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Exchange Sterling for Euro at ATM.

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Exchange Sterling for Euro at ATM.

Silly question so apologies in advance. Normally go to Egypt and get much better rate when exchanging sterling notes in hotel/bank Atms. Is it the same in Mallorca and is the rate better than getting in UK. Thanks for any info.

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Albuquerque, NM
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1. Re: Exchange Sterling for Euro at ATM.

Find out if you bank has a correspondent back. Otherwise you pay from €3-5 just for the transaction. And if when it asks £ or € you hit £ then you get an exchange fee. Find out what your bank charges for the exchange and you might save by hitting € and let you bank make the exchange.

Oxfordshire, United...
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2. Re: Exchange Sterling for Euro at ATM.

Rates from withdrawing from an atm all depends on the card that you use.

Have a look at this article for up to date info on the best cards to use https:/…travel-credit-cards

This year we are using Starling, zero fees and 0% exchange rate - don't get much better than that.

To compare, if we were to use our normal Lloyd's debit card we would be charged 2.99% exchange fee, plus 1.5% (min £2) atm fee, and £1 per purchase spending fee... all per transaction!!

Lowestoft, United...
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3. Re: Exchange Sterling for Euro at ATM.

Sterling notes will get you same exchange rate as in England. Hope this helps.

Oswestry...
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4. Re: Exchange Sterling for Euro at ATM.

Just back from Puerto Pollensa where I had to try several different ATMs before I found one (Banca March) which didn't charge commission on withdrawals (in addition to the UK charge on my debit card). This seemed to be a new development as I've used some of those same ATMs before without having to pay commission. I've always thought using ATMs was the cheapest and easiest way of getting foreign currency, even when my bank introduced debit card exchange charges, but the introduction of commission charges to use foreign ATMs could make quite a difference.

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5. Re: Exchange Sterling for Euro at ATM.

Thanks All for your help and info much appreciated.

London, United...
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6. Re: Exchange Sterling for Euro at ATM.

Re 2#; Some ATMs give a very clear choice as to whether you want to be charged in pounds or euros. But some banks, in particular Santander have 2 or 3 screens to go through and not until you get the receipt can you see what has happened. I always opt for euros and I make regular withdrawals but on the last occasion it end up being paid in pounds with a lousy exchange rate from them and not the brilliant one you get with Halifax. I have an ongoing dispute with Santander but just a warning to beware of this way of getting more money out of you. Its almost as bad as getting pickpocketed!

As Caddy1 said - Banca March are the preferred option.

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