DonB Posted November 26, 2017 Share Posted November 26, 2017 When I use my Santander debit card in a Santander machine in Spain the machine offers me two ways of getting charged. Does anybody know the difference between the two and which is best? Thanks. Link to comment Share on other sites More sharing options...
StuartO Posted November 26, 2017 Share Posted November 26, 2017 DonB - 2017-11-27 2:07 AMWhen I use my Santander debit card in a Santander machine in Spain the machine offers me two ways of getting charged. Does anybody know the difference between the two and which is best? Thanks. Accepted wisdom is that you should always go for the Euro charge, declining the conversion into GBP which the operator of the ATM is offering. Otherwise you will still be charged whatever your own card operator charges for the transaction, plus the (probably unfabourable) currency conversion rate the ATM operator will use. Same when you use your card in supermarkets; whenever you are offered a choice, always pay in Euros. Link to comment Share on other sites More sharing options...
PJay Posted November 26, 2017 Share Posted November 26, 2017 Don't know about Santander , but my Nationwide gives buisness rate on card transactions, which is a better conversion than the tourist rate. SO best always to opt for euro's PJay Link to comment Share on other sites More sharing options...
hallii Posted November 26, 2017 Share Posted November 26, 2017 Restaurants do it as well, when you get the bill and pay using a card they will sometimes have already converted it to UK pounds, you have to say no and ask for the bill in € . Any conversion rate will be n their favour I am sure! H Link to comment Share on other sites More sharing options...
phalange Posted November 26, 2017 Share Posted November 26, 2017 I'm a santander account holder and i use santander atm's, i always choose the local currency (euros) option as advised by santanders t&c's as you get a better rate. You are not charged any commision and you will get the bank rate and not the tourist rate, this only works in Spain using Santander atm's. Link to comment Share on other sites More sharing options...
MartinP Posted November 26, 2017 Share Posted November 26, 2017 I have a Santander 123 account too. This is a huge benefit when drawing out cash in Spain. Just to give an example when using a Santander ATM in Spain it gave me the option of converting my 200 euro withdrawals into sterling at a rate of £193 to £197 on various dates in October and November this year; When I refused and used euros the actual amounts debited from my account ranged from ~ £178 to £182. A huge difference of about 10% which is a combination of double whammy fees and a lousy exchange rate ! Link to comment Share on other sites More sharing options...
1951Pete Posted November 26, 2017 Share Posted November 26, 2017 We were advised by Halifax to always use the local currency option when abroad. As an example I bought an item costing 77 NZ Dollars or £39. I opted for the NZD option. When it came up on my Halifax Clarity bill it was £32 approx. This was because Halifax use the bank foreign exchange rate rather than the tourist rate. So I always follow that advice and buy in the local currency. This is the same when withdrawing cash from an ATM using my debit card. Link to comment Share on other sites More sharing options...
Derek Uzzell Posted November 26, 2017 Share Posted November 26, 2017 Santander’s advice is as follows Question: Are there any fees for using a Santander cash machine in Spain? Answer: If you have an adult current account and pay in at least £500 per month, you can get free cash machine withdrawals in Spain when you use any Santander cash machine. We don't charge you for using a cash machine abroad but the cash machine operator may make a charge. Always choose to take your cash in the local currency if you have the option. If you choose sterling, it means that the retailer or bank will handle the conversion and may charge you a conversion fee or a foreign usage fee (or both). Link to comment Share on other sites More sharing options...
Matrix Meanderer Posted November 27, 2017 Share Posted November 27, 2017 Derek Uzzell - 2017-11-26 5:46 PM Santander’s advice is as follows Question: Are there any fees for using a Santander cash machine in Spain? Answer: If you have an adult current account and pay in at least £500 per month, you can get free cash machine withdrawals in Spain when you use any Santander cash machine. We don't charge you for using a cash machine abroad but the cash machine operator may make a charge. Always choose to take your cash in the local currency if you have the option. If you choose sterling, it means that the retailer or bank will handle the conversion and may charge you a conversion fee or a foreign usage fee (or both). Thanks Derek that's very useful to know. We have a full 123 Santander account but have not used the cash card in Spain. Didn't event think about using it. We always use our Halifax Clarity card which has no fees but does charge interest on cash withdrawals, albeit the cheapest rate on the market apparently. So this winter I'll try the cash withdrawal from Santander branches in Spain (when we find one) - should save the small amount of Halifax interest! Look after the pennies....... :-D Link to comment Share on other sites More sharing options...
DonB Posted November 29, 2017 Author Share Posted November 29, 2017 OK everybody, thanks very much. Don Link to comment Share on other sites More sharing options...
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