New Spanish ATM charges

ATM COST: charges range from 50 cents to €2.

IF you think that bureaucracy at Spanish banks is bad, it is about to get worse as despite attempted intervention from the Bank of Spain, there will be not insignificant charges if you use your bank card to withdraw cash from a bank other than your own.

Initially, there seemed to be the intention for each bank to charge the user two charges, one from the bank supplying the cash and the other from the bank that issued the card, which is what the Bank of Spain objected to as this is a double charge for the same service.

Now, even though they have been ‘advised’ by the minister for the economy to reduce their charges, the banks have got together and decided to impose charges anyway. 

Whilst irritating for the consumer, it isn’t impossible to live with, or is it? Rather than each bank charging the same amount, they have all decided to go their own way and there are two tier systems introduced by almost every bank, whereby if they have an agreement with another bank, the charge will be lower than if they don’t have an agreement with the bank whose card is being used.

Just to add to the confusion every bank has a different charge with the lowest being 50 cents charged by ING with a whopping €2 being charged by Caixabank, and all the other banks are charging something in between.

You know it makes cents (for the banks)! 

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    • john

      09 January 2016 • 10:13

      Spanish banks have no customer relations at all, rip you off for all they can and must be the worst Banks in the world. I can see why most Spaniards don’t use them unless they really have to. Our branch moved and didn’t even tell us. 🙁

    • lou

      10 January 2016 • 12:15

      This is going to create a bigger divide between the rich and poor..absolutely terrible..This will not help the Spanish economy…

    • Michelle

      10 January 2016 • 15:25

      My bank closed down in Alhaurin de la Torre but told us we could go to an administration office, set up by Bankia, in Málaga if we needed anything. I went there to close my bank account down, as Málaga is a long way away from my house. I was charged to close the bank account because I didn’t have a bank!!! (Bankia)

    • kay peukert

      11 January 2016 • 09:45

      My first spanish bank – all went well for 8yrs and then we tried to stop direct debits- they kept paying them and a friend got her bills paid from her old house and NO REFUND. I went to another bank and when I got the new house the ibi got my bank details and I had no money in my account as bank had paid it we had paid it cash..3rd bank for over 10yrs accepted my uk cjheques and I could draw on them immediately then change of staff and I was expected to wait over a month for my cheque to clear – now I just work on cash

    • Dylan Machado

      29 March 2017 • 01:22

      I plan to re-locate in Spain from Brasil….and I thought the Banks in Brasil were beyond belief for: lack of Efficiency / Bureaucratic Pollution / Insufficient training of staff / 3rd World techniques of Business….oh how I have hoped Spain would be an improvement !!


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