Are you going on holiday to Spain? Do you want to know about currency & money in Spain? Our guide to currency & money in Spain gives you the facts and information you’ll want to know.
The official currency used in Spain since 2002 has been the Euro. The Euro is the official currency of Spain and twelve other European countries including neighbouring France and Portugal. The advantage of having this universal currency in Spain and across Europe is that there is no need to exchange currency every time you travel between countries in Europe. The disadvantage of having a universal currency in Spain and Europe is that there are now fewer places to exchange foreign currency in Spain. If you are coming to Spain from a country that uses a different currency, it is still possible to exchange your local currency into Euros in Spain.
Currency Exchange in Spain
Most tourist resorts in Spain are aware that many visitors to Spain come from countries that use other currencies, so there will always be somewhere on the resort in Spain to exchange your foreign currency into Euros in Spain. The advantage of using a currency exchange office at a tourist resort in Spain or a touristy area is that the experience of exchanging currency is relatively easier than attempting to exchange your currency anywhere else in Spain. Currency exchange offices require little identification and completing of forms, making the process of exchanging your currency in Spain quick and hassle free. Another advantage of using these currency exchange places in Spain is that they are often open much later in the evening than other places in Spain. The down side of exchanging your currency at one of these offices in Spain is that the currency exchange commission rate is slightly higher than elsewhere in Spain.
Currency Exchange at Banks in Spain
Banks in Spain are probably the best place to go to exchange your currency if you are looking for good currency exchange rates. The other advantage of using banks to exchange your currency in Spain is that you will easily find a bank in any town in Spain. The disadvantage of exchanging your currency at a bank in Spain is that you will be required to show proof of identification and fill in some forms, and there may not always be an English speaking employee available to help you.