Bank fees in Spain

Spain tries hard to overcome France as the top tourist destination, this is the wrong way to do it

Seems a Spanish bank issue and not a Spanish country or tourism issue.

Prior to your trip, what did you find out about ATM withdrawals using your local ATM card? I know I generally plan withdrawals out depending upon destination. Many banks/credit unions let you use foreign ATMs for "free" by covering the fees or some have a network of partner banks that allow you to use those partner banks for no cost.

ATM fees and methods to avoid them are pretty popular in the forums here.

Fortunately, traveling nowadays doesn’t require many visits to an ATM per trip. I’ve used an ATM once over three Span trips. In the grand scheme of things, €9 or €5 is nothing compared to the overall cost of a trip.

I get the same shock shopping for groceries these days at home. But honestly I compare the cost of very few withdrawals (and my card does not charge fees, or my phone plan charge extra internationally) to the cost of a good Spanish dinner and slightly nicer bottle of wine we treat ourselves with in Europe that we would not spend at home.

Or, forget the constant worrying about what each machine/country might charge in fees and get an ATM card that refunds any fees worldwide. That is what I have done and I never have any worries on this.

Carol now retired, the other problem with Spanish ATMs is that IME they typically employ very disadvantageous exchange rates. We also have a Schwab bank account, but it doesn't help with a 0.80 exchange rate.

You’re right, they can be expensive in Spain. And they might have confusing multiple screens where you have to say no to their dollar exchange a couple of times in order to use your bank’s exchange.
After experiencing the high fees in the past, I make sure to withdraw cash in France before crossing the border.

My post was to warn others. I come to Spain every year and the fee was €5 per withdrawal. It is now 8.95 € or 16 CAD for me. That is excessive. That’s all

the other problem with Spanish ATMs is that IME they typically employ very disadvantageous exchange rates. We also have a Schwab bank account, but it doesn't help with a 0.80 exchange rate.

If you are seeing exchange rates, you are agreeing to DCC. Spend a decent amount of time in Spain over the years, never pay more than the normal network fee of ~1%, also have the Schwab card. Yes, the screens can be confusing, complete with dire warnings of not accepting the conversion ie: "You will not know what the exchange rate will be!!!" Well, yeah, but I know it will be way better than the crappy rate offered.

Do the transaction in euros, decline any conversion, if it doesn't seem right, cancel and go find another brand ATM.

8.95 € or 16 CAD for me

In what world is that the € to $CA exchange rate? None that I've ever lived in.

If you are seeing exchange rates, you are agreeing to DCC.

Nope. It's not a matter of "seeing" exchange rates, it's a matter of what exchange rates are applied to the transaction. This is not a matter of agreeing to anything.

Bottom line: for those of us with USD bank accounts, there's always a currency conversion in play when withdrawing euros. The bank owning the ATM elects its own conversion rate, and IME in Spain, it's disadvantageous to a degree it's not in France, Germany, Italy, Austria and elsewhere.

Yes, of course there is a conversion, but the ATM machine does not determine it, the exchange rate on an ATM transaction or a credit card purchase is determined by the network of the card you have, usually one associated with Visa or MC. For almost all US cards, this will total about 1%, about the best rate you can get anywhere. So I am in Europe right now, if I went to an ATM, the interbank rate is a euro costing $1.14 (or my Dollar getting .87 euro) I might expect, when looking at my bank account that I paid $1.15, give or take a penny per euro. This is what I see, regardless of what ATM I use, even the dreaded Euronet ones. If today, you were to see something like 0.80 euros per Dollar (or a euro costing $1.25) then you are doing something wrong. Period. That is of course your bank is not doing something, like adding a use fee or a FTF. None of my ATM cards charge either, and the Schwab card refunds any use fee at the ATM. In hundreds of ATM transactions, I have never seen anything different, outside of DCC.

I guess perhaps there's a bit of a semantics issue here. If every ATM in a location you're visiting insists that DCC be used, is there really an option or decision to be made by the person who requires cash?

The bank ATM always gives the customer the choice or defaults to the customer’s card. I’ve never seen DCC imposed without choice.

The bank ATM always gives the customer the choice or defaults to the customer’s card.

How nice that that is your experience. It's not the case for many of us.

Yes, DCC can always be declined, they can suggest, give a dire sounding warning, but the decision is yours. Just trying to help a fellow traveler save a few euro.

Yes, DCC can always be declined, they can suggest, give a dire sounding warning, but the decision is yours.

Sure. Decide to accept it, or try to find a different ATM that doesn't force it on you. That's been the decision I've been given.