Changing Sterling in Spain

[JWhite]

[stardust2]

It seems to me you have to do some preparatory work before you leave the UK.

Like -set up a Nationwide Flexaccount and you can pull 300 E per day to Spain out of any ATM free of commission or charges.

Like-- set up a current account with Halifax and you then open a Halifax account in TV and can pull large sums from the UK free of charge BUT the exchange rate they use gives them a hell of a profit.
This is convenient though. (If you are in the UK it is far cheaper to use Swift to send money to Spain-don't forget to insist on Spot market rate)

In shops etc always use Mastercard because it always has a better rate than Visa (IME) and remember to use a card with no commission charge.

There are almost certain to be other combinations of cards and banks just as good by the way.
As the saying goes--DYOR.

Wonga

I will second the Nationwide Flexaccount put pounds in the UK get Euros in Spain at interbank rate, get their Visa card also no commission for exchange from pounds to Euros. leave pound notes in UK come to Spain with plastic and save money

[PaddyW]

Currency Exchange

Hi JWhite
Where are you changing your money? The current interbank rate is 1.42 so someone is making 7 Euros to the pound from you. If you are in the habit of changing money quite frequently then try and avoid the 'holiday rate exchangers'. Whilst it may not make much difference on small amounts, it does on larger ones.

[JWhite]

Paddy w, I think you have confused the Nationwide credit and debit cards :

Nationwide Credit card - you will get charged by Visa if you draw out cash and also pay interest - after all you are taking credit. But on purchases using the nationwide credit card you get the commercial exchange rate.

Nationwide Debit card (Flex card) - use this to draw cash and you get a commercial rate and no charges from Nationwide. Use a free Spanish ATM though (e.g. Bankinter).

So remember : Credit card for purchases
Debit card for cash.

[PaddyW]

Elmcroft

If you read what I said you will see that you have repeated the point I made. I am not confused. I haven't reached that stage yet.
PaddyW

Cash

I think the poinT Elmcroft was making was dont draw cash on a Visa card unless you are desperate there are much cheaper way of getting cash for plastic in Spain

[Dave D]

[Dave D]

Hi Elmcroft,

Thanks for the info ! A happy New Year to you !

Regards,

Dave D.