Marval96-
You ask valid questions.
I’ll try to be as succinct as I can:
Because of posts that I had read on this board regarding Safety and Security Issues, prior to our departure I modified my initial intention to only take/use a cash/debit ATM card to a more elaborate plan utilizing travelers checks, credit cards (duplicates of both mine and my wife’s in case of an ATM ate our cards) and US cash. All of which amounted to overkill.
The reality was that we only used the cash/debit ATM and credit cards. ATM machines were EVERYWHERE we went in Spain (Madrid, Barcelona, Costa del Sol) and we were never in need of pesetas.
Our cash/debit ATM cards were issued by our credit union. NO ATM fees or conversion/exchange fees peseta to dollar.
One can use the site I referenced above to get a history of exchange rates of a currency for a given time period. I used this feature when reviewing my statement of withdrawals and found that all withdrawals were posted to our accounts within a day and found (just a sampling, but the trend was consistant);
03/09/01 176.85 pts. (statement) – 178.62 pts. (above site)
03/16/01 181.75 pts. (statement) – 185.01 pts. (above site)
03/22/01 183.60 pts. (statement) – 185.77 pts. (above site)
03/26/01 184.75 pts. (statement) – 186.56 pts. (above site)
This trend did not hold true for credit card use, but that’s another story.