So far so good in Madeira, ATMs work fine, lots around but those on street corners and in shops charge €3-4ish not sure about the major banks, haven’t found one yet. Contactless and chip and pin working well and widely accepted in all establishements both independent and chains. We’ve been getting the usually fantastic exchange rate which is really great news and the app is working like a dream, instant notifications so you can keep track of your finances. It’s great to be back travelling and knowing Monzo’s got your back.
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ATMs on street corners and shops tend to charge €3-4 for cash but contactless is widely accepted in shops and cafés. ATMs at major banks dont tend to charge.
At ATMs you will be asked if you want the exchange for your home currency at the banks rate at the time of the withdrawal, we always opt not to and opt for € but it does warn you that the exchange rate may be lower. We have always found it to be much better than the banks rate.
Safe travels.