ATM'S in Europe

[Jancruz]

Does anyone know the max you can take out of an ATM in Barcelona at one time?? Is it still less expensive to get Euros in Europe as oppose to a bank in the US??

Thanks,

Jancruz1

[JimandStan]

Does anyone know the max you can take out of an ATM in Barcelona at one time?? Is it still less expensive to get Euros in Europe as oppose to a bank in the US??

Thanks,

Jancruz1

 

I believe that the maximum for a Spanish ATM is €600 per business day, but to be honest the limits are much lower (i.e. €400) at most of them, and ATM's in Spain are infamous for running out of Cash, altogether.

 

Keep in mind, too, that American ATM cards typically have cash withdrawal limits of between three hundred and five hundred dollars per business day, so that also has to be factored into the equation.

 

A significant bank balance in a Commercial Bank such as Citi or Chase will typically mean that the exchange fees will be waived when obtaining Euro's in the United States, but for those who are not in that position, getting Cash at a European ATM is still the least expensive option.

 

We typically play it by ear, using ATM's, unless we know before leaving home that the amount of currency needed will be upwards of €1000, at which point the convenience of having the money in our Cabin Safe supersedes any costs involved.

[Jancruz]

I believe that the maximum for a Spanish ATM is €600 per business day, but to be honest the limits are much lower (i.e. €400) at most of them, and ATM's in Spain are infamous for running out of Cash, altogether.

 

Keep in mind, too, that American ATM cards typically have cash withdrawal limits of between three hundred and five hundred dollars per business day, so that also has to be factored into the equation.

 

A significant bank balance in a Commercial Bank such as Citi or Chase will typically mean that the exchange fees will be waived when obtaining Euro's in the United States, but for those who are not in that position, getting Cash at a European ATM is still the least expensive option.

 

We typically play it by ear, using ATM's, unless we know before leaving home that the amount of currency needed will be upwards of €1000, at which point the convenience of having the money in our Cabin Safe supersedes any costs involved.

 

Thanks, I knew you would answer..I appreciate it..want to cruise together in 2015?

Jancruz1

[ronrick1943]

We've never had a problem getting cash in Barcelona. As far as your bank, most likely the limit is up to you-the bank doesn't set the limit, you do by asking/telling the bank what your needs will be. We have a daily limit of $2500.00 which is what we asked for.

 

Rick

[pacheco18]

It doesn't matter what your personal limit is in your US bank. The foreign bank sets the limit. Not all ATMs will be the same.

 

Jan -- I have multiple ATM cards (to skirt the limits and in case one or two malfunction)

[JimandStan]

As far as your bank, most likely the limit is up to you-the bank doesn't set the limit, you do by asking/telling the bank what your needs will be.

 

 

First off, there are Banks and there are Banks. Not all of them will allow their customers to fiddle with Cash Withdrawal Limits, which are a form of security precaution.

 

Secondly, those big limits sound more convenient than they actually are; as you would still have to make several transactions across several machines in order to build up any significant amount of cash.

 

Who needs the angst of finding the machines, hoping that they have enough currency loaded in them, and then hopping from machine to machine?

 

For petty cash an ATM is a fine solution, but if you need €3000 to cover the Private Guides you've booked on a twenty day cruise. we're talking about an entirely different kettle of fish.

[rallydave]

It doesn't matter what your personal limit is in your US bank. The foreign bank sets the limit. Not all ATMs will be the same.

 

Jan -- I have multiple ATM cards (to skirt the limits and in case one or two malfunction)

 

In actuality there are two limits. Banks set a withdrawal limit from their ATM's be they domestic or foreign. Your home bank also sets a limit on your account. What you can draw from an ATM is the lesser of the ATM's limit or your accounts personal limit.

 

Agree about the multiple ATM cards, great idea. I have my basic checking account as well as a supplementary checking account and ATM cards for each of them allowing me two different accounts from my credit union. Also, usually if each of the spouses have their own ATM cards, that should double the amount that you can withdraw subject to the ATM.

[CintiPam]

We have found that between 250 and 300 Euros is the usual ATM limit, but that often is per transaction, not per person, so no problems! Just go to the well again.

[KirkNC]

It doesn't matter what your personal limit is in your US bank. The foreign bank sets the limit. Not all ATMs will be the same.

 

Jan -- I have multiple ATM cards (to skirt the limits and in case one or two malfunction)

 

Not quite true, if your personnel limit is lower than that set by the foreign bank, your personnel limit will apply.

 

In addition be certain your card is setup for foreign transactions. Many banks default to no on that question to try and minimize fraud.

[pacheco18]

Not quite true, if your personnel limit is lower than that set by the foreign bank, your personnel limit will apply.

 

In addition be certain your card is setup for foreign transactions. Many banks default to no on that question to try and minimize fraud.

 

Of course

Someone posted that they had a 1500 a day limit. My point was that it doesn't matter -- they can only get what the foreign ATM will give them (usually a lot less) and that will NEVER exceed the personal limit. Guess I wasn't clear.

[Jancruz]

Thank you all for all the ideas, I have passed these on to my friend..Jim was correct she needs 4000 euros for tours during a port intensive trip so I think she should bring them from home..

Jancruz1

[bearette]

For something like that she should contact her bank and try to get it before the trip as that is more then any limit I have ever heard.

 

Sent from my KFTHWI using Forums mobile app

[pacheco18]

Thank you all for all the ideas, I have passed these on to my friend..Jim was correct she needs 4000 euros for tours during a port intensive trip so I think she should bring them from home..

Jancruz1

 

4000 Euros for tours??? I hope that's for the world cruise. LOL

[ronrick1943]

True some ATM's will give out what the limit is for that machine, however all you have to do is walk inside the bank, give them your card and you'll get your money. It's worked for us.

Rick

[rallydave]

True some ATM's will give out what the limit is for that machine, however all you have to do is walk inside the bank, give them your card and you'll get your money. It's worked for us.

Rick

 

Great idea but, will they give you the same exchange rate as you get in the ATM?? Usually the in person exchange rate is 5 to 10% worse than the exchange rate from the machine.

 

This is another reason to NOT exchange your money at a local bank in the US. Yes, they might not charge you a fee for exchanging your money but, almost positive you will get a horrible exchange rate and for a 4,000 Euro transaction, 5% would result in about a $300 US cost to exchange money at your local bank!!

[pacheco18]

Great idea but, will they give you the same exchange rate as you get in the ATM?? Usually the in person exchange rate is 5 to 10% worse than the exchange rate from the machine.

 

This is another reason to NOT exchange your money at a local bank in the US. Yes, they might not charge you a fee for exchanging your money but, almost positive you will get a horrible exchange rate and for a 4,000 Euro transaction, 5% would result in about a $300 US cost to exchange money at your local bank!!

 

Going into the bank with your ATM card abroad is NOT the same as an ATM withdrawal.

[ORV]

True some ATM's will give out what the limit is for that machine, however all you have to do is walk inside the bank, give them your card and you'll get your money. It's worked for us.

Rick

 

I tried this in France and they looked at me like I had 3 heads and pointed to the ATM.

[cruiserchuck]

We had no problems getting funds from ATMs in Barcelona when we were there last year. On a trip to Europe last month, we were charged a 1% fee on all withdrawals, which we had never been charged before.

 

We always bring cards from two different banks, which was good this time since one bank cut off our card, suspecting fraud after we used it in several different countries. In the future, the bank told us to call and let them know when we were going to be overseas.

[Jancruz]

OK..thats what I have to check..how much the percentage is on the exchange rate for her..

Jancruz1

[KirkNC]

4000 Euros for tours??? I hope that's for the world cruise. LOL

 

That was my reaction as well.

[Andee]

DH spent most of his 40+ year career in financial services data processing, much of it in electronic funds transfer, so he is my ATM expert.

 

He says that it is primary your own home bank that sets the withdrawal limit; it is less common, but does happen on occasion, for the bank "owning" the ATM to set a limit.

[pacheco18]

DH spent most of his 40+ year career in financial services data processing, much of it in electronic funds transfer, so he is my ATM expert.

 

He says that it is primary your own home bank that sets the withdrawal limit; it is less common, but does happen on occasion, for the bank "owning" the ATM to set a limit.

 

I can tell you from experience (over and over) -- I have a 5k daily limit set by my home bank (Wells Fargo). I am lucky if I can get $500 from an ATM anywhere abroad. The ATMs limit how much you can withdraw in one transaction.

[2tsquared]

Thank you all for all the ideas, I have passed these on to my friend..Jim was correct she needs 4000 euros for tours during a port intensive trip so I think she should bring them from home..

Jancruz1

 

A couple more ideas: if you or your friend belong to AAA, you can exchange currency with them and get your exchange (from any country) within 48 hours. We've used them twice now and each time the exchange rate was better than the bank would charge us, plus no fees.

 

We also have set aside a separate bank "travel" account for small ATM withdrawals when traveling in Europe (separate account, separate password from all others). That way, we don't fear losing all the funds in our main checking and savings accounts.

 

Lastly, most tour companies in Europe will allow pre payment of tours. You mention Barcelona. If you are touring with Spain Day Tours, you actually pre pay with a guarantee of refund should the tour cancel, the ship fail to arrive in port on time, or you need to cancel within a certain amount of time prior to your tour. This way, if you pre pay, you can use your credit card (the one with no foreign transaction fees!), and if something goes wrong, you can inform your card company.

[pacheco18]

A couple more ideas: if you or your friend belong to AAA, you can exchange currency with them and get your exchange (from any country) within 48 hours. We've used them twice now and each time the exchange rate was better than the bank would charge us, plus no fees.

 

We also have set aside a separate bank "travel" account for small ATM withdrawals when traveling in Europe (separate account, separate password from all others). That way, we don't fear losing all the funds in our main checking and savings accounts.

 

Lastly, most tour companies in Europe will allow pre payment of tours. You mention Barcelona. If you are touring with Spain Day Tours, you actually pre pay with a guarantee of refund should the tour cancel, the ship fail to arrive in port on time, or you need to cancel within a certain amount of time prior to your tour. This way, if you pre pay, you can use your credit card (the one with no foreign transaction fees!), and if something goes wrong, you can inform your card company.

 

I love suggestions 1 and 2

 

As for number 3 --I avoid prepayment of tours at all cost. I will only do so in the rare instances the company/guide requires it and I want to tour with that particular company or guide. If I can I negotiate NOT to prepay. I do not want to go through the hassle of getting a refund, even if there is a favorable cancellation policy.

 

What I will do is ask if we can pay in US Dollars. Most companies will allow it. in that way, I do not have to worry about exchanging money or going to ATMS. I

[Paulchili]

What I will do is ask if we can pay in US Dollars. Most companies will allow it. in that way, I do not have to worry about exchanging money or going to ATMS. I

 

This may work in many parts of the world but not very likely in Europe.

They don't want to go through the hassle (and 'loss') of exchanging $ to Euros any more than you do :)