Spain - Tourist Information -
Money Matters & Banks
Spanish Currency
As in the rest of Europe Spain has used the EURO since Jan 01, 2002.
There are 8 Euro coins denominated in 2€, 1€ , 50¢, 20¢, 10¢, 5¢, 2¢, and 1¢ (cents). Every euro coin carries a common European face. On the reverse, each European Member State have their own motifs. Most of the euro coins in Spain will carry Spanish motifs but all euro coins are accepted as valid currency.
There are 7 euro notes in denominations of 5€, 10€, 20€, 50€, 100€, 200€, and 500€ (euros). There is no difference in notes throughout the euro zone.
Money Exchange
Generally it is cheaper to convert foreign currency into Euro in Spain. You can exchange currency, travellers cheques, euro-cheques, personal cheques, obtain credit card cash advances and arrange money transfers at all banks, cajas de cambio (exchange offices), most travel agencies, airports and major hotels.
Hotels and stores tend to give less favourable rates of exchange and usually it is more economical to change your money or travellers cheques at a bank. If you are exchanging Travellers Cheques you will have to take your passport with you.
Traveller's checks in U.S. dollars are not very widely accepted therefore it may be necessary to exchange these in banks or exchange offices. You pay commission every time you convert money therefore avoid changing small amounts often.
Credit Cards
All major credit cards are accepted throughout Spain. The most popular companies being VISA, MASTERCARD, American Express, Eurocheque, and to a lesser extent DINERS.
Debit Cards
If you have a debit cards that is connected to a credit card company such as Mastercard or Visa you can withdraw money and pay for goods where these cards are accepted.
ATM Cash Machines
ATM's or cash machines are an inexpensive way to withdraw cash from your account. Check with your bank that you are able to use your card abroad before you leave home and note that cards with PIN numbers longer than 4 digits will not work in Spain. Check also the fees you will be charged for withdrawing foreign currency. There are two different ATM systems in Spain, 'Telebanco' and Servired. Most Spanish banks are affiliated to one or the other. If you are experiencing problems withdrawing cash try a machine with the other system. Most cash machines issue up to 150 euro.
Spain operates a currency restriction on the import and export of the Euro. Amounts of more than €6010.12 per person must be declared at customs. This restriction also applies to amounts of other currencies that exceed the value of €6010.12.
Banks
There are two types of banks in Spain, savings and loans banks and clearing banks.
Banks are open Monday - Friday from 8:00 am to 2:00 pm and Saturday from 9:30am to 1pm. Most banks are closed on Saturdays during August.
Useful Links
Banco De España
Check the converter on financial websites like www.FT.Com for current rates.
Banco Atlantico
Head Office - Avda. Diagonal, 407 bis
Barcelona
Tel: +34 901 22 11 22
Website: Banco Atlantico
BBVA Banco Bilbao Vizcaya Argentaria
Head Office- Plaza San Nicolás, 4
48001 Bilbao
Website: BBVA
Bankinter
Banesto
Head Office - Avda Gran Vía de Hortaleza nº3,
28043 Madrid
Website: Banesto
Banco Sabadell
Head Office - Plaza Catalunya, 1
08201 Sabadell
Barcelona
Website: Banco Sabadell
Barclays Bank
Head Office - Plaza de Colón, 1
28046 Madrid
Website: Barclays Spain
Caixa Catalunya
La Caixa
Santander Central Hispano
