Money

[Sonya Abbott]

What is the best way to take money. I am from Canada?

[costaki]

Hey,
I'm actually coming from Canada too. I've also been wondering about this. I read in another post that Credit Cards are not a great option and can be risky (if the bank thinks someone else has your card and shuts it off/stolen).

There are ATM's available along the way, I'm just wondering if they'll accept my RBC debit card? I've also heard about 'pay-as-you-go' debit cards which you fill with cash as needed, but if my debit card will work in Spain why would I get one? Are there benefits?

Thanks in advance guys,
Costa

[Leslie]

I don't know about Canadian Cards in Spain, I live in Ireland and used my Credit Cards and debit cards in Spain with no problem - last year I used the same cards while traveling in Canada - Vancouver - to the Rockies and back, great walking.

I have seen it suggested that you let your card company know that you will be in Spain before you go. I would suggest to always take a credit card or at least have one, they have saved my life before.

My wallet was stolen on my first Camino - Pamplona Main Hostel - I cancelled my cards and called the CC company - they arranged for me to pick up cash as I went along through a money transfer service - I would not have be able to finish that Camino without their help.

And theft is very rare - just don't leave you wallet in your rucksack like I did in an Albergue - apparently Pamplona is known for this - big city and all that - I saw and heard of very little theft along the way - quite the opposite really.

[Sonya Abbott]

Where are you from in Canada? I am from Newfoundland.

[frogmarch]

I have done a little travelling in Europe and found that credit cards are the way to go - easy and safe, as long as you don't lose them or get them stolen.

The main problem with them is the fact that most banks will ding you every time you withdraw money - usually a flat rate plus a percentage, so it's a good idea not to withdraw just a few euros, because you could wind up paying more in commission than the actual cash you withdraw.

[costaki]

Hey Sonya,
I'm from Toronto,Ontario. I think I'm going to rely on my credit card. If my debit card works than great, if not I'll use my Credit card.

Costa.

[Covey]

The credit crunch is upon us and that impacts on most of us doing the Camino in 2009.

For the Brits, the cost of doing the Camino has gone up 25% from last year because of the exchange rate against the Euro. In 2007 I got ?1.45/? but today it is 1/1.

Using credit cards on the Camino can prove very expensive because of the exchange rate the card issuer uses (never in your favour!!) and the fees charged every time you used the card in a Spanish ATM.

It is essential now that you tell your card issuer when you are going overseas and how long you will be away, and where. All the card companies use automated fraud software which compares transactions and locations. If you have never used your card outside your home country and the card suddenly pops up in a Spanish ATM asking for a cash withdrawal, it is almost 100% certain the transaction will be declined and you will be left standing in the rain outside some remote bank wondering why you cannot get any money.

Last year I met two ladies from New York whose cards would not work and who had spent two days phoning various call centres for Bank of America in the States trying to convince their bank that it really was them trying to use their own cards.. Their bank asked them to fax a copy of their airline ticket and passport ID page and THEIR BIRTH CERTIFICATE!!! I have never met anyone who carries a copy of their birth certificate, and certainly not on the Camino!! (too much weight!!)

None of this was much fun when you are down to your last ?20.

In the UK you might consider using one of the Travel Money Cards issued by the banks and the Post Office. They are normally issued in $ or ? and you load the card with funds before you leave home. You therefore know the exchange rate before you leave home and they usually charge ?2 per withdrawal, which is a lot cheaper than using a credit card. The cards are usually Visa and can be used anywhere you see a Visa sign and in any ATM displaying a Visa sign.

Albergues and bars do not normally take credit cards!! Carry ?200 in cash on you and draw ?200 from an ATM each time to keep the overall cost down.

Make sure you have two cards on you in case one does not work. Some of the smaller Spanish banks ATM's seem to have difficulties authorising foriegn cards, so try to use the machines from the bigger banks. Banco Sandanter always seems to work as they own two banks in the UK.

[Leslie]

Covey it is about time you Brits got into the Euro????

It does make life easier when travelling.

[Covey]

Most of us would happily leave the EC completely!

When it was the Common Market it was fine, and most of us had no problem with common trade rules and tariffs across Europe, but they present situation where a bunch of unelected officials are making some 60% of our laws which our Government has to automatically pass into British law is untenable.

[Leslie]

There is an interesting future ahead for the UK on this one...