Finance
Currency Exchange and Solutions for Expats

SpainExpats


Auto-login for future?


Syndicate

Currency Exchange and Solutions for Expats

Bank transfer: This is the best way if you need more money than an ATM machine can manage."

Posted by The Expatriator

Tagged: finance, exchange, foreign, bank, transaction, money, transfer, currency, check, rate

Information on exchanging currency from sterling and dollars to euros for expatriates living in Spain.

ATM Machines: This is the best way to get dollars from a foreign bank account to euros, as long as your bank doesn’t charge a ‘conversion fee’ for international use, and the ATM doesn’t charge a transaction fee. (ATMs from cajas tend to be less likely to charge a transaction fee than bank ATMs). With ATM machines, there is currently no spread between buy and sell rate. My bank in Canada charges $5 for each foreign withdrawal however.

Bank transfer: This is the best way if you need more money than an ATM machine can manage. See Banking.

Personal checks: In our experience, Spanish banks charge a minimum commission of .5% to transfer money via a foreign check, and it could take a few weeks. (Before you deposit the check, make a copy of it and the deposit form.)

Traveler’s checks: With a big spread between the buy and sell rate, this isn’t as good as ATM’s.

Credit cards: with travel insurance, purchasing insurance, no transaction fees and reasonable exchange rates, credit cards can be very effective for most purchases. You will have to show the cashier your passport or Spanish photo ID (if you have one) in order to use them.

Note: Since 1999, some banks began charging fees of 1% - 3% for use of a credit card on overseas transactions. Read your monthly statements!

Last updated 16 12 2009

Donation to SpainExpat.com

If you find this site helpful, please leave a donation for us. This will encourage us to remove ads, keep responding to your questions and add more great information about living in Spain to SpainExpat.com.


Comments

If you'd like to ask a question for discussion, please mosey on over to the Spain Forum. See our posting rules and instructions here.

04/Feb/2010:
cronk said:

Hi, I´m looking for the best place to convert a substancial amount of traveller´s cheques. Is it better to set up an account, or just change them all at once? I have tried banks in Granada, but am getting some pretty discouraging feedback.

 
20/Nov/2011:
Issi said:

Hi,

Can anyone give endorsements for Currency Transfer/Exchange companies that they had a good experience with. There are so many listed and I am unsure who to use. So would love some references

Thank you.

 
26/Jul/2012:
Johne. said:

Hi,

I am looking for a way to change the sterling I have in the UK to euros to buy a flat here. (I am currently looking at forex.com.) Can anyone recommend other way of doing it.

Thanks.

 

Sign-In using OpenID or register, then sign-in with your SpainExpat username to post your comments.

Go to Top

Recent Discussions
Beginners Yoga in English at Retiro Park - By: kikenz

Total Views: 29, Last Post On: 05/22/2013 09:29 pm By: The Expatriator


Lovely penthouse for holiday rental in the heart of Barcelona. - By: Stella13

Total Views: 37, Last Post On: 05/21/2013 02:00 pm By: Stella13


Apartment with beautiful terrace in Barcelona city center - By: Stella13

Total Views: 39, Last Post On: 05/21/2013 01:55 pm By: Stella13


Ideal accommodation for families or big group of friends in Barcelona - By: Stella13

Total Views: 26, Last Post On: 05/21/2013 01:50 pm By: Stella13


Are you looking for apartments in Barcelona in the city center? - By: Stella13

Total Views: 31, Last Post On: 05/21/2013 01:46 pm By: Stella13


Looking for apartment in Barcelona Center? - By: Stella13

Total Views: 24, Last Post On: 05/21/2013 01:38 pm By: Stella13


Amazing apartments in Barcelona Center - By: Stella13

Total Views: 25, Last Post On: 05/21/2013 01:35 pm By: Stella13


Recent Talkbacks
On EU Residency in Spain for EU Citizens, Their Spouses and Family Members, Dreamer said:

"Hi Billy,

The article has just been updated with all the new info."


On EU Residency in Spain for EU Citizens, Their Spouses and Family Members, redglasses said:

"Can a british resident live in spain? Is Britain considered part of the European Union?
What about taxes for running a business in Spain for an Expat?"


On Moving to Spain, rojo36 said:

"Glasgow Man and Van has a dedicated team of movers who can provide a reliable removals service to Spain. We are often able to move you along with your belongings if transport is a problem, keeping the cost down."


Expats on Facebook
Related Features

Banking in Spain

Related Services

Currency Exchange
Best currency exchange rates guaranteed from World First

Related Products

American Express Travellers Cheque Card

Recent Jobs
SpainExpat's jobs in Spain database: most recently posted jobs: