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Bank Withdrawals: £ or €

PostPosted:Tue Nov 14, 2017 7:25 pm
by Bill Posters
Occasionally using Sabadell where I have an account to draw money from my UK bank account I am given the option of having my UK account debited in € or £. Does one present an advantage over the other for those living in Spain? Do I choose sterling or Euros? Cheers, Bill.

Re: Bank Withdrawals: £ or €

PostPosted:Tue Nov 14, 2017 8:04 pm
by cyclemad
Always, always use euros. Usually the bank´s fixed exchange rate is most unfavourable, whereas Visa and MasterCard euros to GBP are more favourable.

Re: Bank Withdrawals: £ or €

PostPosted:Tue Nov 14, 2017 10:19 pm
by freddo
Much better to use Transferwise

Re: Bank Withdrawals: £ or €

PostPosted:Wed Nov 15, 2017 2:34 am
by Conrad
Think the OP is talking about atm withdrawals Freddo

Re: Bank Withdrawals: £ or €

PostPosted:Thu Nov 16, 2017 9:35 pm
by pete evans
Best ATM is Santander. As long as your money is in santander UK there are no fees or commission. Problem is not many Santander ATMs. Still chose euros.

Re: Bank Withdrawals: £ or €

PostPosted:Thu Nov 16, 2017 9:36 pm
by pete evans
Best ATM is Santander. As long as your money is in santander UK there are no fees or commission. Problem is not many Santander ATMs. Still chose euros.

Re: Bank Withdrawals: £ or €

PostPosted:Thu Nov 16, 2017 10:36 pm
by Rick
Slightly off topic but I have just opened a Starling bank account on-line and am really impressed.
You pay in in sterling - all on-line using a really intuitive app and features include free withdrawals abroad (except where bank levies a charge) but at the commercial (MasterCard) rate rather than tourist rate, free contactless and pin debit card transactions also at commercial rate. Also ability to instantly turn card on and off (for security purposes) using the app.
I was in Spain last week and where Caxton rate was 1.09, I got 200 Euro for £177.46 which equates to 1.126.
You get an instant notification each time you conduct a transaction which also provides you with the reassurance that card is being used legitimately.
Try it, you won’t be disappointed! Can all be set up on-line (photograph passport/driving license).
You even get interest credited to account every month.
See: https://www.starlingbank.com

Re: Bank Withdrawals: £ or €

PostPosted:Fri Nov 17, 2017 8:29 am
by PeteKnight
Bill Posters wrote:
Tue Nov 14, 2017 7:25 pm
Occasionally using Sabadell where I have an account to draw money from my UK bank account I am given the option of having my UK account debited in € or £. Does one present an advantage over the other for those living in Spain? Do I choose sterling or Euros? Cheers, Bill.
Here’s what Martin Lewis, the guru of all things financial, says about this:
https://blog.moneysavingexpert.com/2013 ... ommission/

If you don’t want to read the article then the title says it all “Using plastic overseas? Always PAY IN EUROS (even if it says 0% commission)

Pete.

Re: Bank Withdrawals: £ or €

PostPosted:Fri Nov 17, 2017 8:37 am
by PeteKnight
Rick wrote:
Thu Nov 16, 2017 10:36 pm
Slightly off topic but I have just opened a Starling bank account on-line and am really impressed.
You pay in in sterling - all on-line using a really intuitive app and features include free withdrawals abroad (except where bank levies a charge) but at the commercial (MasterCard) rate rather than tourist rate, free contactless and pin debit card transactions also at commercial rate. Also ability to instantly turn card on and off (for security purposes) using the app.
I was in Spain last week and where Caxton rate was 1.09, I got 200 Euro for £177.46 which equates to 1.126.
You get an instant notification each time you conduct a transaction which also provides you with the reassurance that card is being used legitimately.
Try it, you won’t be disappointed! Can all be set up on-line (photograph passport/driving license).
You even get interest credited to account every month.
See: https://www.starlingbank.com
Starling Bank looks interesting. I started using Monzo earlier this year because they offered an almost identical service (without the interest on balances or cash back), but they have now decided to introduce a fee for foreign transactions - because a few people (I guess me included) were costing them too much in foreign transaction fees.
Hopefully Starling won’t go the same way, but at this stage it looks to be well worth a try, so thanks for the tip.

Pete.

Re: Bank Withdrawals: £ or €

PostPosted:Fri Nov 17, 2017 10:15 am
by soapydave
Try it, you won’t be disappointed! Can all be set up on-line (photograph passport/driving license).
You even get interest credited to account every month.
See: https://www.starlingbank.com

and how securely do you send your photographic id online?
where is starling bank based?please.

Re: Bank Withdrawals: £ or €

PostPosted:Fri Nov 17, 2017 3:41 pm
by freddo
Starling Bank is registered in England and Wales as Starling Bank Limited (No. 09092149), 3rd floor, 2 Finsbury Avenue, London EC2M 2PP. You will find the growing Starling team working at the same location. We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 730166.

Re: Bank Withdrawals: £ or €

PostPosted:Sat Nov 18, 2017 11:25 pm
by Rick
and how securely do you send your photographic id online?
where is starling bank based?please.
[/quote]
Soapy, just trying to be helpful, if you are uncertain about security, leave it alone. My experience has been good, all I am saying!