ATMs in Madrid

I think you will probably hear on here as well to always use an ATM attached to a Bank so that if there is an issue they can help. Not sure if that is really the case, I would bet that you would have problems finding the right person that could help, and while the ATMs may certainly be owned by the banks, they may be serviced and run by a completely separate group from the tellers in the bank.

I think many will also tell you that they have never had an issue (in 20 years, several 100's of transactions, I never have); but I am sure it does happen.

I would not hesitate to use a bank affiliated ATM, or even one operated by Travelex, at an airport or train station. I would shy away from the small ones you find in Bars and merchants with no Bank Affiliation, just my personal preference.

The possibility of losing a card does point out the need to have a back-up, either a separately numbered card on that account (my and my wifes cards have different card numbers and PINs, but access the same accounts) and preferably another card from a different bank or account.

Also in Spain, do be aware of Dynamic Currency Conversion (DCC) if given the option, always choose to do the transaction in local currency, not Dollars.

Have you ever had an ATM card eaten by a machine? I haven't. But of course you will find someone that has. It's the law of statistics. But I'd guess the chances are pretty remote.

Not that there is anything wrong with using ATM's at a bank, though I'd guess many banks would be unable to retrieve it as they probably do service their machines with a third party.

Your best bet is to use a machine that doesn't suck in the card - you just swipe in and out to activate it.

I have used lots of ATMs in Spain and they usually just have you insert and quickly remove your card, just like those here at home. I have had some not work for one reason or another, but never had one keep a card. And when one doesn't work, I just move down the block to the next one.

A measure of added security we utilize is to use ATM's located outside of tourist zones. Keep in mind the only time we have experienced a credit card "swallow" was while on vacation in Orlando!

Wonderful, go to TripAdvisor Madrid forum, there is about a 13 comment thread about a specific ATM(s) at Atocha serviced by Bankia.

I'm going to add some information that'll show how dumb I am. I had trouble using the ATMs in Spain when I first got there. I kept typing in my pin and the machine would tell me it was wrong. Well, here is why. The numeric keypad on some of the ATMs were reversed. Instead of having this

123
456
789
0

it had this:
789
456
123
0

I was used to using my pin as a pattern, rather than a number, so the ATM wouldn't accept my incorrect pin. It was 100% my fault. I'm sure you guys aren't as clueless as I am, but just keep an eye out so your card doesn't get eaten (mine didn't, thank goodness).

-Marc

@Marc, thanks for the heads up as I am dumb enough to do that!

If you walk a few blocks along calle Atocha uphill from the station you will find a Santander and a BBVA and several other banks, some with their ATMs inside the lobby or secure kiosk. This is far enough from the Prado and the station that there are few tourists using them, and they are great for getting things in addition to cash, like concert tickets, and I've even bought Alhambra (in Granada) passes directly from the machine (helps to be able to read the screens).
Use some judgment about dining or snacking in this stretch, though -- a lot of bad food. That's what keeps the McDonalds and Dominos in business here.
I was just looking at it on Google StreetView and it seems like the street has been cleaned up recently, too. Bonus.