Personal Finance

Tangerine/Simpli in Portugal and Spain?

  • Last Updated:
  • Jun 28th, 2018 1:38 am
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[OP]
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Mar 13, 2017
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Tangerine/Simpli in Portugal and Spain?

Heading to Portugal and Spain shortly and just wondering what the best advice is for using ABMs there. What kind of fees should I expect and is there a particular machine I should use over another? And any benefits of using my Simpli or Tangerine card?

Can't find much about it online and I spent an hour waiting on hold to talk to Tangerine before giving up on that.. Any help is appreciated.
14 replies
Sr. Member
Jul 28, 2012
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Montreal
Scotiabank and Tangerine are part of the Global ATM Alliance. This means your bank will not charge any access fees to use member ATMs.

There are no member ATMs in Portugal, but according to this site, the member bank in Spain would be Deutsche Bank.
http://www.scotiabank.com/ca/en/0,,8093,00.html

As far as I know, CIBC and Simplii are not part of such alliance, so you would pay the regular fees (up to $5 per withdrawal) plus whatever convenience fees the ATM charges (just like in Canada).
[OP]
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airodyssey wrote:
Jun 26th, 2018 2:24 pm
Scotiabank and Tangerine are part of the Global ATM Alliance. This means your bank will not charge any access fees to use member ATMs.

There are no member ATMs in Portugal, but according to this site, the member bank in Spain would be Deutsche Bank.
http://www.scotiabank.com/ca/en/0,,8093,00.html

As far as I know, CIBC and Simplii are not part of such alliance, so you would pay the regular fees (up to $5 per withdrawal) plus whatever convenience fees the ATM charges (just like in Canada).
Ah okay, so basically use Deutsche Bank in Spain and no fees will apply outside of the ... Unfair.. conversion rate? Haha.

Will try to look for more info on the Portugal situation but like you said, it's not looking good!

Thanks for your help.
Sr. Member
Jan 3, 2013
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Mississauga
The ATMs in Portugal are called Multibanco which are everywhere but not sure about fees.
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Just keep in mind, Deutsche Bank has a REALLY SMALL presence in Spain. BNP Paribas also is part of the alliance and has some branches in Spain.
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beatles89 wrote:
Jun 26th, 2018 2:30 pm
Ah okay, so basically use Deutsche Bank in Spain and no fees will apply outside of the ... Unfair.. conversion rate? Haha.

Will try to look for more info on the Portugal situation but like you said, it's not looking good!

Thanks for your help.
In what way do you feel the conversion rate is unfair?
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Sep 2, 2005
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If you have TD all-inclusive account it's free to use foreign ATMs.

Or do all your euros withdrawals in Spain? Portugal is less expensive than Spain.
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PressureBoom wrote:
Jun 26th, 2018 6:23 pm
In what way do you feel the conversion rate is unfair?
That part was a joke. Unfair was the wrong word.. just that the bank rates are not very advantageous compared to the real rate.
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beatles89 wrote:
Jun 27th, 2018 7:34 am
That part was a joke. Unfair was the wrong word.. just that the bank rates are not very advantageous compared to the real rate.
Much better to use a fee free credit card for most of your transactions. 4-5% better depending on the amount you withdraw and the accompanied fee.
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beatles89 wrote:
Jun 27th, 2018 7:34 am

That part was a joke. Unfair was the wrong word.. just that the bank rates are not very advantageous compared to the real rate.
fogetmylogin wrote:
Jun 27th, 2018 9:47 am
Much better to use a fee free credit card for most of your transactions. 4-5% better depending on the amount you withdraw and the accompanied fee.
FX withdrawal rate is 2.5% over Visa/Mastercard rate whichever you are using. Tangerine charges $2 for non-Global ATM alliance + FX fee and Home Trust Visa which is a 0% FX card charges $5.50 min (1% of withdrawal).

Also, if you use credit card, the interest starts right away, so its better to pay first, withdraw later.
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beatles89 wrote:
Jun 26th, 2018 2:30 pm
Will try to look for more info on the Portugal situation but like you said, it's not looking good!
I was in Portugal last year, and while they do have Deutsche Bank, the branches are quite uncommon and not in convenient locations.

But it was still better to just pay the $2.00 fee from Tangerine debit as the exchange rate from local ATMs was excellent. The local ATMs did not levy any transaction fee.

Be aware that the maximum withdrawal in Portugal is €200, but you can do it more than once per day. This will enlarge any transaction fees you pay.

Just be warned that the DCC "scam" is everywhere in Portugal, built into every ATM I used. Read up on it and don't get burned.
What if there were no hypothetical questions?
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Jucius Maximus wrote:
Jun 27th, 2018 4:25 pm
I was in Portugal last year, and while they do have Deutsche Bank, the branches are quite uncommon and not in convenient locations.

But it was still better to just pay the $2.00 fee from Tangerine debit as the exchange rate from local ATMs was excellent. The local ATMs did not levy any transaction fee.

Be aware that the maximum withdrawal in Portugal is €200, but you can do it more than once per day. This will enlarge any transaction fees you pay.

Just be warned that the DCC "scam" is everywhere in Portugal, built into every ATM I used. Read up on it and don't get burned.
Ah so I should be fine just going to any random ATM then? Just the $2.00 fee and nothing else on top of that compared to Deutsche?
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beatles89 wrote:
Jun 27th, 2018 5:26 pm
Ah so I should be fine just going to any random ATM then? Just the $2.00 fee and nothing else on top of that compared to Deutsche?
I can't speak for every ATM in Portugal. But I was never charged a fee beyond the $2.00 from Tangerine.
What if there were no hypothetical questions?
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Feb 17, 2017
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beatles89 wrote:
Jun 27th, 2018 5:26 pm
Ah so I should be fine just going to any random ATM then? Just the $2.00 fee and nothing else on top of that compared to Deutsche?
Over the last year, most Spanish ATMs have added a withdrawal fee for non-Eurozone ATMs, ranging up to 5€, so beware.
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amitdi wrote:
Jun 27th, 2018 4:04 pm
FX withdrawal rate is 2.5% over Visa/Mastercard rate whichever you are using. Tangerine charges $2 for non-Global ATM alliance + FX fee and Home Trust Visa which is a 0% FX card charges $5.50 min (1% of withdrawal).

Also, if you use credit card, the interest starts right away, so its better to pay first, withdraw later.
Yes if you use your card for cash advance charges as per above and as you say put your account into a credit situation and you won't have interest charges.
My recommendation is to use your credit card for purchases as much as possible and mostly avoid cash. With an FX fee free card you will have no cost over interbank rate (well Mastercard/Visa rate). You might get some pushback by tax avoiders wanting cash (especially in smaller hotels) but they seem to ask without offering a discount so I generally just ignored their "requests"

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