If you intend to travel abroad, it is invariable that you would have to deal with foreign currency. Foreign exchange while traveling to Spain would involve one to deal in Euros.
The Euro has been Spain's currency for quite some time now, and this makes things simpler for travellers who also intend to travel to other European nations which use the Euro.
The one downside though is that a traveller now has fewer options when it comes to places that would exchange international currency.
In traveling to Spain, it is not necessary that you get your Foreign exchange (foreign exchange) before you enter the country as you can do so after you enter the country as well. The one thing you should do though is to make sure that you check the conversion rates before making your Foreign exchange transactions because rates can change every day.
Owing to the large influx of tourists, a large number of hotels and resorts know that many guests have to their local money into Euros.
They thereby provide the facility of exchanging foreign currency into Euros. However, the exchange rates that these places offer tend to be slightly higher than they are elsewhere.
Banks are therefore the best places to exchange your money in Spain as they offer the best conversion rates for Foreign exchange. Besides, finding banks in Spain is not at all difficult as there are banks in every Spanish town.
But Foreign exchange in banks involves paperwork and ID proof also needs to be presented. Besides, there is a chance that the bank employees that you deal with cannot converse in English.
As with other places in the world, a traveller to Spain has the option of using credit cards, cash, or traveller's checks. This option depends on what each is comfortable with, as while one might want to use credit cards, someone else would want to stick to cash.
Currency for Spain?
Spain currently uses the Euro (EUR) as its official currency. This has replaced its pervious form, the Peseta, which are no longer accepted in the country. Euro's are available in a number of denominations in both coins and notes.
Notes range from 5.00 Euros to 500 Euros, covering the following denominations: 5.00, 10.00, 20.00, 50.00, 100.00, 200.00 and 500.00. Coins range from 1 Euro Cent to 2.00 Euros and are available in the following denominations: 1 Euro Cent, 2 Euro Cent, 5 Euro Cent, 10 Euro Cent, 20 Euro Cent, 50 Euro Cent, 1.00 Euro and 2.00 Euro.
Banks are typically open Monday to Saturday between the hours of 0830 and 1400 .
This is not universal for the whole year, however, and banks will be closed on Saturdays between the months of June and September. Other options for foreign exchange in Spain include availability in exchange shops, hotels and travel agencies. These give individuals a wealth of choice when it comes to exchanging currency.
Regularity of Money Transfer for Spain?
How long it takes to transfer money to Spain will be dependent on a number of different factors. As the Euro is a major currency it may be possible for people to send money to Spain within a day or two but this is not a guaranteed time frame. Regardless of your reasons to transfer currency to Spain, foreign exchange brokers can help you make the best of the exchange rate whilst offering your more competitive rates than high street banks. This will be applicable whether you are making a single or regular transfer and will not be impacted by your reasons behind it.