Cash Card Abroad

[yansee]

Do you get good value using a cash point card to withdraw Euros in Spain ?

[Prudie]

It depends what bank your with, I wouldn't ever describe it as good value as you always pay for something. Even the Nationwide charges now.

[ubasses]

It is the way to get the best rate, but depending on your card watch out for the charges.

[gingejbee]

Cash cards are not good value per se. However, different banks have different ideas on how much they can make from each transaction. Some are good....others pretty poor.

[Buenchico]

As an example, Barclays charge 2.99% on overseas cash withdrawals plus a flat fee of £1.50 if you use an ATM not within the Global Alliance group. (The ATM operator might charge an additional fee but, if so, that should be indicated at the ATM).

So withdrawing the equivalent of £100 would cost you £2.99 + £1.50 = £4.49 at most Spanish ATMs. (There's no Spanish bank within the Global Alliance Group although you might find a few ATMs operated by non-Spanish Global Alliance members, such as Barclays, Deutsche Bank or BNP Paribas).

However that's still probably the cheapest way of getting Euros because the exchange rate charged is the commercial inter-bank rate, rather than the far worse rates available at UK (or Spanish) exchange facilities (such as Travelex or the Post Office).

Chris

[pretty_snowdrop]

If you bank with Santander and you use a Santander bank in Spain to withdraw funds, they dont charge a cash handling Fee AND No Foreign exchange fee.( as long as you pay in £500 a month).

[boxtops]

Nationwide has one of the best deals around for cash withdrawals and purchases in Europe - we don't use other cards outside the UK.