TSB customers travelling to Spain and Portugal can now withdraw cash from Santander ATMs without paying the bank's 2.99 per cent non-sterling ATM transaction fee. The change means someone withdrawing the equivalent of £100 using their TSB debit card could save around £3.
Fee-free withdrawals extended
The arrangement follows TSB becoming part of Santander Group after its acquisition in May 2026, and is one of the first benefits extended to TSB customers. Santander customers have been able to make fee-free withdrawals at the bank's ATMs in Spain and Portugal since 2023.
Spain and Portugal are two of the most popular holiday destinations for TSB customers accessing cash overseas, with around 60,000 withdrawals made across the two countries each year. The fee-free arrangement in Spain also covers the Balearic and Canary Islands, including Majorca, Ibiza, Tenerife and Lanzarote.
Customer benefit
Josie Clapham, Chief Customer Officer at TSB, said: “TSB customers' money can now go further when they're abroad, thanks to the extension of Santander’s fee-free cash withdrawals in Spain and Portugal.
“With summer holidays in full swing, we're pleased customers can keep more of their money to spend on the things that matter most.”
Operator fees and currency advice
Holidaymakers should be aware that the change removes TSB's 2.99 per cent non-sterling ATM transaction fee when using eligible Santander ATMs in Spain and Portugal. However, some ATM operators may impose their own local charge for withdrawing money.
TSB said any separate operator fee should be displayed on the screen before the customer completes their withdrawal, giving them the opportunity to cancel the transaction.
Travellers should also pay attention to the currency they are offered when withdrawing cash or making card payments overseas. If an ATM or card terminal offers to convert a transaction into pounds, this is known as dynamic currency conversion. The exchange rate offered by the operator may be less favourable than allowing the card provider to carry out the conversion.
Customers should therefore check the exchange rate and any fees shown before accepting a currency conversion. TSB customers travelling elsewhere should also check the fees that apply to their account before using their debit card to withdraw foreign currency. The new fee-free arrangement applies specifically to qualifying Santander ATM withdrawals in Spain and Portugal.
