WOW the banks are really hammering tourists in tenerife

[willowlily]

Went to ATM this morning first santander outside passerella centre to draw 300euros on my british tsb debit card they wanted to charge me a rate of just a fraction under £1 for a euro and 5.95 atm charge, or let my british bank do the convertion but you do not know the rate til you check your statement and i know you have 2 different charges on top which would be approx 4% so approx £ 12 plus the tenerife atm charge of 5.95
i cancelled transaction then tried telebanca ATM outside dial prix they wanted to charge me £302.95 for 300euros plus a atm charge of 5.95. i cancelled this also. i normally bring enough cash from uk but have run out of cash. i really need 750 euros so would have to make 2 or 3 transactions over 2 or 3 days this would make it a very costly.
i will try other ATM and may go into a bank and ask what the rate and charges would be if i were to draw the whole 750euro in 1 go.does anybody else know a cheaper way to do this.

[Richj]

Ohh I am feeling your pain! .And to top that lot off. The rip off credit card charges. I always select the Euro rate to change rather than select the English rate.


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[willowlily]

Ohh I am feeling your pain! .And to top that lot off. The rip off credit card charges. I always select the Euro rate to change rather than select the English rate.


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its swings and roundabouts, not everywhere will allow you to chose, i have made 2 transactions for similar amounts at the same time to see which is the cheapest option and it is never the same, the only difference is you know immediately what the rate is if you opt for the euro charge. i have realised that it is cheaper to buy items by credit card than by using your debit card abroad.

[jameslavin1982]

Also, it's not any use to you for this trip, but I would highly recommend for your next holiday to get a money travel card from the Post Office, you can then load it up with money before you get there and top it up via the app, avoiding the poor exchange rate at the atm. You'll still have to pay the atm charge, although I have noticed the ones at the airport and BBVA ones don't charge you.

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[fixer]

Never been charged from a ATM in Tenerife always get charged in euro let your bank do the conversion. However better to get a prepaid card like Caxton no charges or Revult again no charges.

[jameslavin1982]

You do get charged. Santander ones charge €5, I know that to be a fact.

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[Tshirt]

I have a Caxton prepaid card, used it in Tenerife dozens of times at different ATMs never ever been charged.


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[jameslavin1982]

Mastercard ones you do. Or maybe just ones that originate from the UK. Also, to anyone reading this, the card itself charges you to withdraw, €2 euros, so it's not completely free, but then, or charge you a monthly fee, depending on which one you have, but that's fair enough, because they have to make money somehow.

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[Moderator_]

Blame the brexiteers, not the banks :wink2:

[Richj]

I have a Spanish account I use with my uk current account which allows you to make free pound to Euro exchanges into it. Not a bad exchange rate and no charges using the ATM in Tenerife.


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[helena246]

So true!!...........The British people will only realise what they have done when the pound is worth "LESS" then the Euro later this year.

International economics are paradoxical, we really have no way to know whether the weakening pound has anything to do with brexit as we did have times before any talk of a ref when sterling took a hit
Remember we were all warned of economic difficulties if we voted leave and as you all now know the majority voted regardless of the threats by osbourne, cameron us president obama blair and a motley crew of whoever they could get.
In my opinion summer holidays abroad costing more is a small price to pay for control over our own affairs and borders. notice i say CONTROL of our BORDERS

[willowlily]

International economics are paradoxical, we really have no way to know whether the weakening pound has anything to do with brexit as we did have times before any talk of a ref when sterling took a hit
Remember we were all warned of economic difficulties if we voted leave and as you all now know the majority voted regardless of the threats by osbourne, cameron us president obama blair and a motley crew of whoever they could get.
In my opinion summer holidays abroad costing more is a small price to pay for control over our own affairs and borders. notice i say CONTROL of our BORDERS

Although i agree with you. This thread was really about banks clobbering tourists with excessive charges and lower than the offical tourist rates to get their money. the interest rates to change sterling cash at fados yesterday in los cris were 1.07- 1.08 the ATM were asking me to pay £302.90 for 300 euros plus 5,95 for using the ATM

as for all you re-moaners give it a break, you are all begining to sound like polly parrot.

[tub]

take cash with you and save all the profiteering from bank charges

[jameslavin1982]

Pretty funny someones going on about controlling our borders on a forum for English immigrants in tenerife.

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[willowlily]

take cash with you and save all the profiteering from bank charges

i agree but sometimes you just need more for certain circumstances

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Pretty funny someones going on about controlling our borders on a forum for English immigrants in tenerife.

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we are not all english immigrants living here some of us spend time here normally in the winter, when we spend money we have earned and paid tax in the uk WHICH by the way makes a huge contribution the the local economy.

[helena246]

Pretty funny someones going on about controlling our borders on a forum for English immigrants in tenerife.

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Tenerife forum is not only for expats that reside in tenerife it is open to all who have an interest and would like inf on many subjects.
We did have a vote and lengthy thread and vote on BREXIT which did get rather heated so lets not go there again.

[jameslavin1982]

Fair enough, but it is still very funny that people can say something like on a forum like this without any irony.

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[jameslavin1982]

i agree but sometimes you just need more for certain circumstances

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we are not all english immigrants living here some of us spend time here normally in the winter, when we spend money we have earned and paid tax in the uk WHICH by the way makes a huge contribution the the local economy.Foreigners make a huge contribution in Britain. I don't have to get ripped off by conmen English tradesmen any more, as Polish fellas will do it for half the price, and do a better and quicker job, just to name one instance.



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