# Spain & Portugal?



## ValHam (Oct 4, 2009)

I am going to Spain and Portugal in a couple of weeks - Would it be best to use atm - I am Canadian but have a Bank of America account - or should  I change currency at the airport or take travellor cheques - Thanks


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## bellesgirl (Oct 4, 2009)

You need to find out what your ATM charges for foreign transactions.  For example, my credit union charges $1.50 and no foreign exchange fee- just the going rate.  My Chase ATM charges $3.00 + 3% exchange fee.  That's $18 on a $500 transaction.  Needless to say,  I use my credit union ATM.  When you inquire, make sure you get the true answer.  I was told by Schwab that they charge no fees at all, which is true, but the conversion rate was NOT the going rate - it was about 2% less - so an indirect fee.


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## Passepartout (Oct 4, 2009)

I think you will find ATMs more convenient than travelers cheques. I might consider carrying some cheques in a separate place than on my person, 'just in case', and if you happen to pass near a bank when you need some cash, use them. We have found that we don't want to take time from our exploring to scout out a bank to exchange cheques regardless of cost. Also, because of the expenses involved, we get enough cash each visit to an ATM to last a couple of days. 

I'd also add- use a debit ATM card, not a credit card, as CCs charge cash advance interest from the time of the withdrawal, no grace period.  

Enjoy Spain and Portugal, we were there a year ago and will be back in June.

Jim Ricks


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## jackie (Oct 4, 2009)

I went to Lisbon and Marbella,Spain in May.  Now I am having trouble with
my ATM.  I used my ATM for cash from my bank in Missouri at the airport
in Spain and in front of Marriott Marbella.  My bank information was  used
in Texas in August.  My bank had insurance to cover the $1000.00 taken from
my account.  Check with your bank.


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## Passepartout (Oct 5, 2009)

jackieweidle said:


> I went to Lisbon and Marbella,Spain in May.  Now I am having trouble with
> my ATM.  I used my ATM for cash from my bank in Missouri at the airport
> in Spain and in front of Marriott Marbella.  My bank information was  used
> in Texas in August.  My bank had insurance to cover the $1000.00 taken from
> my account.  Check with your bank.



Do you mean that your use of an ATM card in Europe somehow has something to do with it being used in Texas? I think that's a bit of a stretch.

And, yes, we all need to look over our bank and CC statements carefully for unauthorized misuse.

Jim Ricks


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## Kazy (Oct 6, 2009)

How much cash do you think you will need?  We just came back from 2 weeks in the UK and used our credit card the whole time.  We used Capitol One and there were no fees.  We exchanged some money at our local bank at a slightly higher rate prior to leaving in order to have cash in our pocket with the idea that we would use an ATM when we needed cash.  We found that we never needed more cash as credit cards are accepted everywhere.  We primarily used our cash for tips, snacks, and miscellaneous items.


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