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Where/when to get euros

United States
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Where/when to get euros

I'm American but living in China. I'm going to Madrid and Barcelona in early June. I was wondering if I should exchange euros while I'm in China or when I get in to Madrid? Should I exchange Chinese RMB to euro, or US dollars to euro? or should I just take $$ out from my bank card when I get to the airport (I have Bank of America and Chase)?

Edited: 29 May 2014, 15:20
surrey, england
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1. Re: Where/when to get euros

you will get better exchange rate if you take euros out from the atm's in spain with your debit card (atm card). make sure you inform your issuing bank before your trip so that your debit card will not be blocked.

probably better to use your us dollar account as it is more recognizable, even though we have more chinese tourists exchanging or using rmb in spain.

just exchange a few euros like 10-20 euros in cash for your use and then use the atm's in the city to get your money from any bank. always better to get money from atm's inside the bank rather than outside.

United States
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2. Re: Where/when to get euros

When you said "just exchange a few euros like 10-20 euros in cash for your use" do you mean prior to my trip?

Also it seems there are plenty of Deutsche Bank in Madrid, which is in the same global alliance as Bank of America. So I can use my BoA card even if it's not in Germany, right?

surrey, england
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3. Re: Where/when to get euros

yes, just some pocket money. you will need at least 4.50 euros to take the metro to town or 5 euros to take the bus. and them some euros for snack or for drinks. bring about 30 euros with you prior to your trip.

if you have an atm card, whether it is visa or mastercard, you can take monies out of any atm machine with either the visa or the mastercard logo. practically every bank in madrid uses one or the other. you do not have to use deutsche bank exclusively, just any bank. use santander as there are many, many santander branches and and deustch banks. they are sister banks of boa.

just make sure you are using atm cards to withdraw money, but not credit cards. if you use credit cards for shopping, make sure you are signed up with the verified by visa and mastercard securecode. and also inform your card issuers that you are going to spain and other countries for holiday.

try to find out what are the charges or fees for taking out euros by your bank and the bank where you will be taking out money.

Malaga, Spain
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for Malaga, Andalucia, Madrid, Zaragoza, Valencia, Seville
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4. Re: Where/when to get euros

xiach:

At the back of your ATM card, it will show the networks your bank is associated with. If you choose the ATM of a bank that is associated with one of the networks, your transaction fee will be minimal.

Spain is the European country with the most ATM machines.

Albuquerque, NM
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5. Re: Where/when to get euros

My BofA ATM card no longer charges exchange fees regardless of what ATM you use so you can save a significant amount in each transaction. Not sure why your exchange 10-20€ At the airport, there are ATMs there that give the same exchange rate as you'd get downtown.

surrey, england
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6. Re: Where/when to get euros

bleen68,

i have asked xiach, as i would advised anyone coming to spain, to have some pocket money for incidentals. personally i will not recommend anyone to take money out of the atm's, especially in the airport, train station, bus station or any public places for 2 reasons: foremost of all is the security concern. there are many, many pickpockets and opportunitic thieves in the public places watching newly arrival tourists. the second reason is in case your atm card gets swallowed by the machine. therefore i would feel safer to get my money in an atm inside the bank during banking hours. there are too many horror stories about atm cards being swallowed up by the machines.

7. Re: Where/when to get euros

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