The best banks for free ATM withdrawals in Gran Canaria

As a remote worker or digital nomad traveling abroad, one of the most significant challenges you will face is finding a convenient and cost-effective way to access your money. Unfortunately, most banks charge (high) fees for withdrawing cash from foreign ATMs, making it an expensive and frustrating experience.

Understanding foreign transaction fees

When you withdraw money from an ATM in Gran Canaria, you may be charged several fees. The first is the foreign transaction fee, which is a percentage of the transaction amount charged by your bank for the exchange of currency. The second is the ATM fee, which is a fee charged by the ATM owner. Some ATMs may even charge an additional fee for international transactions.

Tips for avoiding high fees

To avoid paying high fees when withdrawing money abroad, here are some tips:

  1. Use your bank’s partner ATMs: many banks have partnerships with international banks, which may allow you to withdraw cash for free or at a lower cost.
  2. Get a travel credit card: travel credit cards often offer perks such as no foreign transaction fees and rewards for travel-related purchases.
  3. Use a debit card with low fees: look for a debit card that offers low or no foreign transaction fees and ATM withdrawal fees.
  4. Withdraw larger amounts: since most ATM fees are flat fees, withdrawing larger amounts of money may be more cost-effective in the long run.
  5. Plan ahead: consider exchanging currency before your trip or using alternative payment methods such as credit cards or digital payment platforms like PayPal or TransferWise.

Experiences from the community

We reached out to our members to share their experiences with banks and fees in Gran Canaria. Here are some of their experiences:

Please note that these are answers and recommendations from community members and their personal experiences. Answers can be slightly edited for clarity.

Deutsche Bank for me was commission free.
Gert | 17-03-2023

I have an Irish bank account and Sabadell don’t charge me any fee.
Dan | 06-03-2023

I’m using an Irish card (AIB). I’ve used the Deutsche Bank ATM near Parque de Santa Catalina with no fees.
Mark | 06-03-2023

I’ve tried some ATM’s today: ING and Sabadell had no charges. I’m using an AIB debit card.
Francis | 06-03-2023

I used Deutsche Bank and that was free if you said no to the conversion fee
Nick | 06-03-2023

ING doesn’t charge me any fees with my Dutch debit card from ING.
Nelleke | 06-03-2023

The ATM at the entrance of Carrefour of CC Las Arenas has so far served well.
Jonna | 03-03-2023

I usually go to the Deutsche Bank close to Parque Santa Catalina. I have a UK bank account and don’t pay any fees to withdrawal money.
Augosto | 28-02-2023

Try ING or Deutsche Bank.
Dom | 19-02-2023

Deutsche Bank is commission free (at least when using my Romanian & Revolut cards) 
Irina | 02-02-2023

If anyone reading this uses Wise, you can get free withdrawals from Deutsche Bank near the Bex Hotel.
Sam | 31-01-2023

One of ATM s which doesn’t take any fee is Deutsche Bank.
Vojtěch | 31-05-2022

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