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Spain’s currency exchange is the Euro which stretches further in some Spanish cities than others. Barcelona, for example, is more expensive than Salamanca. To keep track of Euro value, go to XE.com Currency Converter. Alternately, you may want to buy a simple small gadget (often on a keyring) like a calculator, available in most travel stores that converts keyed-in amounts into the currency of your choice. You can also change money to traveller’s cheque or pre-loaded card before traveling to Spain. Read more below about Currency Exchange Spain.
Changing money in Spain
Your best bet for changing money are the ATMs, banks and Spain’s Bureaux de change.
Banks may be more iffy since they have their own hours and are closed Saturdays and Sundays. Many banks, especially in smaller cities and towns, may only change money for their own clients. In these cases, Bureaux de Change are more convenient, since they also work longer hours. On the other hand, street kiosks tend to be shady and less safe. You’re best off using ATMs.
Bureaux de Change/ street kiosks – In larger towns, such as Barcelona and Madrid, you may find some operations open for limited trading on Sundays, usually 11:00-15:00. Others that operate in peak-tourist regions work longer hours. Although Spain’s currency exchanges may seem to offer great rates, these apply only when changing large amounts, and many are known for conning unsuspecting clients.
Banks – Banks open Monday to Friday from 8am to 2pm with variations, while some also work on Saturday until 1pm. Come the winter period (October to April), and many banks may only operate once a week in the afternoon. Banks tend to offer better rates than Bureaux de Change, but generally prefer to cater only to their own clients – particularly in areas less frequented by tourists, although Spain’s biggest banks BBVA and/or Santander, are less likely to show you their door.
Spain’s ATMs – Spain has more ATMs for currency exchange than most of the other 27 EU countries, so you’re likely to find some ATM (also called “cash machine” or “cashpoint”) that will change your money. Choose to convert into Euros rather than your local currency – you’ll get more buck for your dough. Also, choose an ATM located in a bank rather than the street for safety and because these machines are less likely to be tempered with.
Most ATMs accept debit card – Visa, Mastercard, Cirrus or Maestro, not Interact. Rates are good – you receive the real exchange rate when you withdraw your money, so if the exchange rate is $2.40 per euro, you’ll get $2.40 per euro. Note: Change any five- or six-digit PIN you may have to a four-digit number before traveling since Spain only works with four-digit numbers.
General tips for Spain’s currency exchange:
- No commission doesn’t mean anything. Bureaus, or street kiosks, who tell you that usually charge a steep rate which well exceeds commission.
- Ask vendors to show you their rate on a calculator to avoid miscommunication and rip-offs. Also, don’t assume you’ll get the same rate for, lets say €300 as you would for €200. Traders do their own calculations.
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