I just checked, and you only need $25 to open a Cap One MM account with an ATM card that allows you 6 transactions per month (this is called their Smart Savings acct). It does have a $5 per month maintenance fee, but only if you keep less than a $300 balance in it. If you aren't going for a while, you might consider that, especially if you travel to foreign countries every year so that extra ATM card will come in handy.

You may want to consider opening another account with the credit union and only putting a limited amount of money in - then releasing them from a problem if there is fraud.

For example, put $500 in (whatever amount of cash you think you will need as well as the amount you are willing to lose). Then use that one only in Spain. And have a backup plan if needed.

I'm not surprised different countries have different rules - I remember when we rented a car in Ireland that our primary credit card insurance was invalid there, but a secondary card we sometimes used was okay - so that was what the car rental was on.

I don't quite understand that sweet Capital One cash-advance strategy. Too bad the poster did not mention the name of the account, which makes a difference. The company's website offers 12 credit cards. Three are for business. Of the other nine, the best deal I could see was a cash advance transaction at 3% but with a minimum of $10. Yet the site goes on to say the annual rate is just under 25%. It does not comment on whether the interest is charged on only the advance, or on the entire balance owing as at some institutions. So if the advance can immediately be covered somehow, why go through these wiggles? It's still a $10 charge.
I agree it's nice Capital One does not charge an extra fee for doing the conversion to foreign currency. But it seems easier to me to shop around among conventional ATM/debit cards and enjoy a simpler life.

When I used an ATM in Spain, I found that Santander worked the best. Some banks would not accept foreign cards.

Some of you are now talking about the trees and have lost sight of the forest.

The issue is the restriction the OP's CU puts on his card. That restriction is not common. The answer is to get another card from another financial institution that does not have such a restriction.

There is NO WAY I would agree to accept liability and let my card provider off the hook.

The questions about charges to withdraw cash, exchange loading, etc. are NOT part of the OP's question. They are a separate issue. First the OP needs to agree he needs to get another card and THEN it makes sense for him to ask which one to get.

So far, what I see is the OP is not taking the advice to get another card but instead has said he will let the CU off the hook and accept the risk himself. What then is the point of going on about other cards?

Focus your efforts on convincing him his current strategy is a bad idea.

Improviser: You are absolutely correct! As Cristina says, credit unions in general do not care about international travelers, so exploring other options quickly is a must.

Southam: I have two CapOne bank cards for overseas use and even I cannot keep their features straight. All I know is that I can keep both as back-ups. I think one of mine has been discontinued for new enrollees.

rialtogrl: I love Schwab. My husband had opened Schwab investment accounts for everyone in my family eons ago, and when our daughter spent four months in Paris, we did the debit card thing with them. GREAT SECURITY--you MUST call these people before you leave, and they really want your information a week in advance. You can reduce your debit limit to one penny, so no one can use the card at a store.

So here's what I carry overseas:

Cash:
One Schwab debit (reduced to 1 penny as a charge card)
one Cap One bank card with MC logo and
one Cap One mere ATM card
one local bank ATM card with no logo.

Credit:
Chase Sapphire Preferred Visa and Cap One Visa (no foreign transaction fees
one AmEx (for Vehib rentals)
one Andrews with Chip (for automatic transport machines)-- 1% foreign transaction fee though

<i>, credit unions in general do not care about international travelers</i>

My credit union treats international travel better than U.S. travel in that it charges for withdrawals from non credit union ATMs in the States but does not charge for withdrawals from foreign ATMs. Otherwise it treats foreign credit card transactions like American ones: some areas are blocked (there are 9 in the U.S.) and so are foreign countries unless I tell them ahead of time when I will be abroad.

I was in Spain in 2000, 2003, 2011 and 2012 and certainly never had a problem with getting cash from an ATM and had no trouble with scams. I use a Wells Fargo debit card.

I take $500 worth of euros at a time, for which Wells charges me $5.00. $5.00--$10--$20 is not a big deal when I am spending $4000 on a trip.

I always wear a money belt under my clothes and then carry a smaller amount of cash in my purse. I've never had a worry about the money belt, whereas on my last trip to Barcelona, a woman tried to steal my purse. A more skillful thief did manage to steal my sister's purse a couple of years earlier.

As others have said, the most cost effective way to get cash is from a cash machine, even if a small fee is charged.

I don't think the OP ever said anything about getting a cash advance on a credit card. Yes, Cap One charges cash advance fees like any credit card, and they aren't cheap, this has nothing to do with the foreign bit. But the OP didn't say he planned to do that anywhere.

The cash advance option had to do with his credit union giving him foreign currency to take abroad at supposedly a good rate. It had nothign to do with his Cap One credit card.

We use the AAA travel visa card that you can reload if you need more money. Had a ATM crap on us while in Valencia. Went back to our apt and checked to see that we were charged for the money even though we didn't receive it. Called collect to the customer service dept and they said it was pending and to alert the bank as to what happened. Sure enough the next day it was corrected. We have used this card all over the world and never had any problems.