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ATM bank charges for Barcelona, Nice and Rome

Hello everyone -- We're leaving for our first European tour in less than two weeks! So excited =) My home bank will charge me $5 for each cash withdrawal, but will the ATMs in the above-named cities charge me as well? Thank you.

Posted by
9369 posts

Nope, as long as it's a bank-associated ATM, not something like a Travelex machine.

Posted by
7052 posts

Do you have credit unions in Canada? If so, it may be worth signing up, not just for this reason - but the fact that they're not in the business of fleecing their customers in general (that's what I call charging a fee to allow you to get access to your own money).

Posted by
11507 posts

Jullaccount ie TD bank has a "Select Service " account, you have to keep a min balance in it ( 5000) but if u do it is a NO FEE account, no monthly fees no withdrawal fees ( and this INCLUDES Foreign ATMS!!) and it gives me a free safety deposit box. I have used this account for years. You could open an account there and close it after your trip if you wanted..

Posted by
7899 posts

In Barcelona (maybe other places) be aware of dynamic currency conversion. While you incur no ATM Fee, they may ask if you want the transaction done in Euros or Dollars or "local" or "home" currency. The difference is that if you do the transaction in Dollars or "Home" currency, they will convert the transaction into Dollars at a rate of their choosing. To do the Transaction in Euros or Local currency, Mastercard/Visa does the conversion at a much lower rate and is preferred. I ran into this at ATMs at the Barcelona Airport, some down near the Ramblas, and even in some smaller towns we visited nearby. We also found it with a couple Spanish Bank ATMs, not just a single ATM company. If this gets confusing, if the question pops up, then just move on to another ATM.

Posted by
3 posts

Thank you all for taking the time to respond!
Pat I am with TD, and they did tell me about this account when I informed them about my trip. It's just 5k is too big of an amount for me to keep in my chequing account. I think it's time to shop around for another bank or look into a credit union.

Posted by
4535 posts

While I'm all about giving people information, consider this before shopping for a new bank to avoid foreign transaction fees: If you spend 10 days on your European vacation, and liberally withdraw cash each day, at $5 per withdrawl, you'd pay a total $50 in fees. I doubt most people withdraw cash every day, so in reality those costs will be even less. Also, the dynamic currency converter mentioned above sometimes comes up on credit card transactions too. Always say no!

Posted by
28 posts

Check with your bank and find out if there are any branch banks associated with them in Barcelona, Nice, and Rome. If they have any banks in those cities, they may not charge any additional fees.
I know there are some branch banks associated with the bank where we do our banking.

Posted by
12313 posts

If it's any consolation, five dollars isn't the worst I've seen. Wells Fargo, and some others charge $5 PLUS 3 percent of the transaction. I ended up at USAA. They charge 1 percent only on foreign ATM transactions. It's easy to find places that charge 1 percent that don't have any minimum balance or other requirement. The financial institutions that charge nothing usually have requirements that may or may not work for you. Follow the advice about currency conversions, whether using a credit or debit card at an ATM, hotel or restaurant - stick with the local currency or you incur a charge by them as well as your bank.

Posted by
2535 posts

For just a modest sum (no minimum per representative) you can open an account with Schwab including an associated free checking account at Schwab Bank with the great debit card with no additional transaction fees for withdrawals at ATMs.