Cheapest Method of Currency Exchange

If it makes you more comfortable, you could exchange a small amount at the airport before departing, but the best way is really the ATM. In order to save on fees (if your bank charges them - mine doesn't) you should make larger withdrawals as few times as possible. When I went to Spain last year I took no euros with me at all (I did have a little bit of US cash as a backup). My first stop before leaving the airport in Santander was the ATM.

My credit union charges no fees to get Euro or Pounds. I pay the daily rate when I buy them. That way, I have cash on arrival. I increase my debit card daily withdrawal amount to 1800 per day. That way, I can withdraw 800 to 1000 Euro at a time and reduce some fees. I know, it sounds like a lot, but with meals, paying transportation costs, and shopping, it goes pretty fast. I also have an under the shirt carrier for most of my cash. I take 100E out at a time and carry it in my vest front pocket, which has a zipper. Bought vest a couple of years ago at St. Ouen flea market for 5E. One of my better buys. I use it all the time when traveling to carry money, batteries, camera, cleanex, maps, passport, etc. It has about 12-15 pockets, most have zippers.

For me, it's any ATM.

I bring my debit card and my wife brings hers. If I lose my card, we can transfer our money into my wife's account and use her card. We haven't lost a card yet but it's always good to have a backup.

If you’re arriving at Madrid Barajas, you’ll find ATMs in each terminal. There are banks in T4 and T1, and AMEX is located in T1, T2, and T4. The ATM is your best bet.