U.S. Dollar Exchange Rate @ ATM's

Rebecca G

Rebecca G

Active Member
Can anyone tell me the exchange rate for U.S. dollars @ any atm in Ibiza? I'm finding .68 euro per dollar, but it might not be the case @ the atm. Not sure if I should get traveller's checks or use my debit card. Thanks!
 
I say use your debit card. More flexible and the rate won't be substantially different.

I think US banks have a 1% commission on top of a rate that is usually the market interbank rate. Exchanges usually have a similar margin built into their rates.
 
Definitely go with the debit card. I was just their in August, and I go to Europe several times a year, and I always get a much better rate through my debit card. And, its more convenient than travellers checks.
 
May be check out how much it cost you each time you use an ATM.
Traveller cheques might even cost you a little percentage to hand in, I remember this one time in Canada a few years ago.

by the way, traveller cheques might be last century in most of the countries, but in poor countries, where is barely any ATM's, you are very graceful...
 
bethel said:
May be check out how much it cost you each time you use an ATM.
Traveller cheques might even cost you a little percentage to hand in, I remember this one time in Canada a few years ago.

by the way, traveller cheques might be last century in most of the countries, but in poor countries, where is barely any ATM's, you are very graceful...
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I've used ATMs in many developing countries.... true, some you can still use travellers cheques... but i would never use travellers cheques in ibiza... it would be a pain to try and find somewhere to cash them whereas there are ATMs everywhere and at anytime.
 
Thank you!

Traveller's checks are last century huh? Good to know! When I was in Bali, the exchange was horrible for debit cards. I'm only going to use it once in the airport. Do you think I'd have any problems with a debit Mastercard?
 
i would definetly just use ur debit card, mastercard should'nt be a problem either. i think i'm going to exchange money at the airport with my bankcard and "try" to limit atm usage b/c the fees can really add up.
 
Thank you! Okay one more question....is there a limit as to how much money you can take out? Do you think I'd have a problem taking out up to $1200 in one transaction?
 
exchange rate

Me and my girl are headed out next week! We just went to our bank and ordered cash(euro). We dropped $5000(usd) and that bought us $3200(euro). Good news the rate dropped a little right before we bought it so if you can wait it might keep going down!! But i would not rely on it!! But I also loaded up the debit card just in case! And i wouldn't use an ATM just use the card to pay for meals and shopping! I also found a TRAVELEX pre-paid EURO card but we couldn't get in in time! But good luck in whatever you decide to do! Cya on WEDS everybody!!!!
 
Rebecca G said:
Thank you! Okay one more question....is there a limit as to how much money you can take out? Do you think I'd have a problem taking out up to $1200 in one transaction?
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Many of the ATMs in Ibiza have a 300 Euro limit/transaction limit. You can do multiple transactions though.
 
Morbyd said:
Many of the ATMs in Ibiza have a 300 Euro limit/transaction limit. You can do multiple transactions though.
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what he said, also, I wouldn't be too willy-nilly with the swiping b/c you may be a fee for each transaction. much better to use the ATM and pay with cash and have only one fee.

when are you going to la isla? i'm going with a friend from NY for her 30th bday, we'll be there 9th to the 19th...
 
That's what I was thinking. My bank's not being too helpful with the ATM withdrawal cost. I'll be there from 9/12-9/23. PM if you'd like to meet up!
 
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