Cheaper ways of changing pounds to euros

[graham smith]

I have just found out that if you have a UK Santander debit card you can use it in Santander cash points & get official bank rate & no commision taken out.I have a Santander 123 account & have used it on several occasions & find the rate to be 2 to 3 cents better than daily tourist rate.Make sure you press for euro rate (left hand key) when prompted do you want banks pound rate
or euro.

[wolvesfc1]

only with certain accounts IE 123 others are not so good and do charge.
also spoke to Santander uk and they say spain an uk branches are not connected in anyway.

[essexeddie]

I have been told this before about the 123 account.
I will give it the test when I go out in a few weeks time as I normally use my Metro Bank debit card. They make no charges at all World wide. I shall withdraw the same amount at the same time on both accounts and check my statements.
When I know I will post on here.

[Bazz]

I have just found out that if you have a UK Santander debit card you can use it in Santander cash points & get official bank rate & no commision taken out.I have a Santander 123 account & have used it on several occasions & find the rate to be 2 to 3 cents better than daily tourist rate.Make sure you press for euro rate (left hand key) when prompted do you want banks pound rate
or euro.

If you aren't paying money in every month, i.e. it's not your main current account, you will be charged a fee for withdrawing euros at the ATM.

[essexeddie]

If you aren't paying money in every month, i.e. it's not your main current account, you will be charged a fee for withdrawing euros at the ATM.

I think that's common knowledge with most Banks, you cant just pick the best bits.
Its all or nothing. If your savvy and need to, you can split Banks. ;-)


.

[bilgar16]

I have a 123 a/c. Was told that card is only 'free' in Spanish mainland, NOT Canaries.

[graham smith]

I have a 123 a/c. Was told that card is only 'free' in Spanish mainland, NOT Canaries.

I use my 123 card all the time in Tenerife and get full commercial rate and pay no commission.Only use it in Santander cash machine & when asked do you want the pound rate they offer or euros always go for euros
(left hand button on machine)
Maximum amount you can take out at any one time is 300 euros,I bought a car in January & topped up my Sabadell bank account by going on ten consecutive days has I was 3000 euros short.Hope this helps

[bilgar16]

Ok, I'll give it a go in the next few days.

One of the reasons I had opened a 123 a/c was for the 'free' card. Then I was told, quite positively & in branch in UK that it was 'free' in Spanish mainland ONLY.

My usual way of 'pounds to euros' is to transfer (I use Transferwise - found the rate better than CurrenciesDirect who I had been using for years) from UK bank (Sterling) via Transferwise to Santander (Tenerife) - drawing out, over the counter, as it suits me.

At the same time, I've brought with me, Sterling traveller's cheques, which I then en-cash at any of the convenient 'bureaux'.

This has worked fine for me for years. Little bit clunky, I suppose. The card hole-in-the-wall would make a very nice addition.

I'll be back :)

[bilgar16]

Ok. Tried it out.

Withdrew 300 euros using my 123 card.

Had to wait a couple of days for the charge to show up in my a/c.

You are right enough. Definitely got a good rate. "0.82/GBP" - which, to me is 1.2915 euros to the pound. No commission, either.
Can't believe I've been so misled in UK branch!

Thanks again for this most useful info. No more queueing in the bank.

I did have a Santander (Spanish) card years back but it cost me 12 euros a year & was little used so I stopped it.
The UK 123 is, of course, free. (Well, if you ignore the £2/month a/c fee )

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Sorry. That should be "1.2195"

[marbro8]

Ok. Tried it out.

Withdrew 300 euros using my 123 card.

Had to wait a couple of days for the charge to show up in my a/c.

You are right enough. Definitely got a good rate. "0.82/GBP" - which, to me is 1.2915 euros to the pound. No commission, either.
Can't believe I've been so misled in UK branch!

Thanks again for this most useful info. No more queueing in the bank.

I did have a Santander (Spanish) card years back but it cost me 12 euros a year & was little used so I stopped it.
The UK 123 is, of course, free. (Well, if you ignore the £2/month a/c fee )

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Sorry. That should be "1.2195"i got that rate when i changed £500 with ice bank about 2 weeks ago, it looks like it has dropped to about €1.19 now

[essexeddie]

I was charged for using my 123 Account in Tenerife, when I returned home I had a grizzle at them and got a £30 refund??
I will give it another go and see what happens.

[Lissalyon]

I changed£100 on the seafront today and got 1.175

Three days ago it was more but didn't have my notes on me.

[Red Devil]

I have a 123 a/c. Was told that card is only 'free' in Spanish mainland, NOT Canaries.

That is not correct. It is free in Canaries also as long as you fulfill conditions I have mentioned before ie you must only use an atm at a Santander bank.

[essexeddie]

I made a withdrawal from my 123 account and compared it with my Metro account of which I have been using for years now. I withdrew €200 from each account at the same time and got a slightly better rate with Metro. It was a £1 difference that's all. So not too bad.

[Sonik]

Nationwide Flex Plus account have something similar. Hope so! Coming Friday for a visit.

[essexeddie]

That is not correct. It is free in Canaries also as long as you fulfill conditions I have mentioned before ie you must only use an atm at a Santander bank.


I didn't know that :tiphat: