Money on the Camino

When my friend arrived in Spain for the first time,

her fare was €2 and she "tipped" the taxi driver 

the "quarters"

which amounted to about €8!!

When I arrived in Portugal the first time,

I paid the taxi driver €20 for a €2 fare.

For many, learning to use Euros takes a few days.

The money looks different.

Why not do some studying 

BEFORE you leave for Europe.

Here are what Euros look like.

BILLS.  

The bills are not too difficult. 

They are clearly marked and in colors! 

 When you take €300 from an ATM machine, 

you generally will get one €100, two €50, 

and five €20 bills. 

Albergues and tiny tiendas are not going to want 

to change your €100 bills, 

so try to get them exchanged 

in a large supermarket or bank.

Many albergues and tiendas

still will NOT take credit cards.

They operate on a cash-only basis.

Private albergues will sometimes take cards,

as will hotels.

So if you're booking hotels, 

a credit card is fine.

COINS.  

Here is a photo of American coins next to Euro coins.

As you can see, 

both the ONE EURO and the fifty cent EURO 

are approximately the same size as our American quarter.

The TWO EURO coin is larger.

The colors are different also, so pay attention.

Study these now so you don't make mistakes later.

The ONE EURO will become easy to recognize because it is two-toned.

USING ATM MACHINES

There are ATM machines all along the Camino,
beginning in the airport when you arrive.
As soon as I get through customs,
I find an ATM in the airport 

and withdraw 200 to 300 Euros.
This will hold me for about a week or 10 days.

In the 17 years I've been walking the Camino,
I've never found it difficult to obtain Euros
in the airport from the ATM.

I do NOT purchase Euros from a seller in the airport.
I use the ATM

In the airport, there are security guards everywhere,
so you're as safe there as anywhere at home.

On the streets of busy cities,
I'm a little more cautious when I take out my cash.
Places I'd be cautious would be Pamplona,
Burgos, Leon, and maybe Santiago.
You're pretty safe in the smaller villages.
Just be aware of your surroundings.

It is good practice to have a friend stand with you 

while you take out your cash. 

Before you begin, 

study where the cash will come out 

and keep your hand ready

to retrieve both your card and your cash.

If anybody appears to be standing too close 

or to be watching you, be wary.

Also beware of locals who want to "help" you -
they've been known to grab and run.

These are usually children or young people.

But I had an adult man try the "bird poop" scam 

on me in Barcelona,

so adults are also culprits.

When you take your cash out of the ATM, 

DO NOT PUT IT AWAY IN PUBLIC!

Hold it in your hot little hand until you find privacy.

Immediately go to a bathroom or to your room 

and put the cash into your money belt IN PRIVATE.

ATMs are watched closely by gypsies, 

especially in the larger cities. 

Not so much to worry about in smaller villages.

I never take cash from the ATM on a weekend.

I've seen cards get eaten 

and then the person is stuck until Monday, 

when the bank opens.

When possible, 

I use the ATMS 

where you go into a little private cubicle.

CALL YOUR BANK 

The week before you leave for Spain 

be sure to call your bank

and tell them you will be traveling 

in France (SJPP) and Spain. 

Make a note right now on your calendar to do this!

Otherwise, the first time you try to use your card, 

they will think someone has stolen it and will block it 

and you'll be stuck in a foreign country with no money.

 And considering the time change, 

calling your bank to straighten this out 

can be a huge problem.

PIN NUMBERS. 

ATM machines in Spain use 

the 4 digit NUMERAL system. 

If your pin uses letters, 

you will not be able to use 

most ATM machines in Spain.

Most ATM machines in Spain 

work just like the ones at home. 

You put in your card, type in your pin number, 

and choose the amount you want. 

Most have English options.

BUYING EUROS AHEAD OF TIME.  

I did this the first time I walked the Camino 

but I never do this anymore.

I go to Spain every year, sometimes twice, 

and I never take Euros.

Every international airport 

will have ATM machines inside.

The Madrid airport has several on different floors.

I've never had a problem getting Euros.

Again, if you DO want to take Euros, 

I suggest no more than €200-€300 to begin with.

That will last you a week on the Camino.

ATM FEES

I use Charles Schwab online bank for my travel.

They issue me a card that I can use anywhere and 

I PAY NO FEES.

If a bank in Europe charges a fee,

Charles Schwab reimburses me at the end of each month.
Charles Schwab also has the best exchange rate 

I've found anywhere.
And I get that simply by using my ATM card.

Bank fees can add up to hundreds of dollars.

So I suggest you do NOT use 

your regular bank's ATM account 

unless your bank gives you a special rate.

Find a bank that will return those fees 

at the end of the month.

Exhange Rates

Not only do banks charge fees for using the ATM,

but many also charge 

a HIGHER EXCHANGE rate.

For example, 

if the regular exchange rate is 1.37 

the bank might charge 1.50 or higher.

Those pennies along with ATM fees add up.

Call your bank and ask 

what exchange rate they charge

for international withdrawals.

They will talk around the bush

but eventually you will learn

that most charge a whopping fee

for exchanging cash in a foreign country.

Use a Travel Account.

It's a good idea to keep your travel money

separate from your regular bank account,

just in case your card is compromised.

Many banks have a special travel account you can open

to keep your travel cash 

separate from your regular bank account.

I am in love with my Charles Schwab card.

I have used it seamlessly over the years.

And when I DO have an issue,

I get a human on the line quickly,

whether via chat or live phone.

Since Schwab only gives you one ATM card,

I've opened an account with my walking partner, Joe.

That way we will have his card

 in case mine is lost or stolen,

which means either of us could quickly

get online and transfer funds

into another safe account if necessary.

If two of you are traveling, 

it is smart to have your walking partner carry 

your extra card, in case of problems.

Lastly, 

I know I harp on this,

but be aware of girls with clipboards.

It is a scam, and a successful one!

See my post on pickpockets for more information.

Ok.. I guess that's it on cash.

Let me know if you have questions.

And BUEN CAMINO!

Love,

Annie