When you’ve just arrived in Spain, one of the most different things compared to back home can be the banking system, especially when using ATMs. It’s easy to get hit with an unexpected fee if you’re not careful. I’ve recently navigated the pitfalls of several major banks and want to share my experience to help others who are new here.
Fee Policies of Major Banks
First, let’s be clear: there are no fees for withdrawing cash from your own bank’s ATM with your own bank’s card! For example, if you use a BBVA card at a BBVA ATM, it’s absolutely free. The issue mainly arises with interbank withdrawals.
Different banks have vastly different fee structures for withdrawals made with cards from other banks. Based on my own experience and feedback from friends, I’ve compiled a general table for your reference. Keep in mind that these fees can change, so always pay close attention to the on-screen prompts before you confirm the transaction!
| Bank | Fee for Other Banks’ Cards |
|---|
| CaixaBank | Around €2.50 |
| Santander | Around €2.00 |
| BBVA | Around €2.00 |
| Sabadell | Around €1.80 |
| ING | Usually free if withdrawing over €200 (not to be confused with ATM deposits). |
| Deutsche Bank | Usually free |
So, the takeaway is to always try to use your own bank’s ATM. If you can’t find one for your Spanish ATM withdrawal, consider trying an ING or Deutsche Bank machine first.
Withdrawal Limits and Other Tips
Another thing to be aware of is the withdrawal limit. Spanish ATMs typically have a per-transaction withdrawal limit between €600 and €1,000, though this can vary by bank and even by machine. Additionally, your own bank card has a daily withdrawal limit, which you can usually adjust in your banking app (the default is often €600/day). If you need to withdraw a large amount of cash, remember to increase your daily limit in the app beforehand to avoid the awkward situation of being unable to get your money at the machine.
A few final tips: When withdrawing cash, always cover the keypad to protect your PIN and be aware of your surroundings. While Spain is generally safe, it never hurts to be cautious. Also, some ATMs will offer ‘dynamic currency conversion,’ which means settling the transaction in your home currency. Never choose this option! The exchange rate is extremely poor; always select to be charged in Euros (€). Hope this information helps you out!
