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CURRENCY

                                   TIP : Ring our help line for todays rate, here in Spain

  • The Spanish Currency is Now in line with the rest of Europe and is the Euro

  • It is fair to say prices have risen higher than interest rates since its introduction

  • The Euro has strengthened against the pound recently

  • The average exchange rate for the year 2003 so far is around 147 Euros - £

 

EXCHANGE

TIP: ALWAYS ask about ALL Charges BEFORE Exchanging your Cash
  • Better rates of exchange are nearly always greater in Spain than the UK

  • Many exchange Bureos charge NO Commision or charges

  • BE AWARE OF THOSE WITH HIDDEN CHARGES AS HIGH AS 25%

  • All Banks give a reasonable exchange but charge an average of 2-3% commission

  • Compare rates offered ..They can vary considerably ( whilst bearing in mind any charges)

 

CARDS

                                          TIP .. Arrangements for payment should be made before leaving the UK

  • Most major cards are now widely accepted in Spain

  • Most Banks have cash dispensers for withdrawals

  • Nearly all the Banks have their own recommended credit cards.Obtainable as in the UK

  • UK Bank exchange rates for card purchases are much lower than Spanish cash exchange rates
  • Cash Cards are Handy from Gibraltar Banks

BANKS

                   TIP . Prepare to que and wait ! ----  See below for  Bank contact numbers

  • Open 6 Days a Week : ( Mon - Fri ) 9 - 2pm  (Sat) 9 -1pm ...subject to slight variations

  • Open account with your passport & a UK Bank letter of introduction  (although not essential). We can help and give you advice should you wish

  • If little cash is to be brought with you then ideally open Spanish account once in Spain

  • You may take In & Out as much currency as you wish To and From the UK and Spain.

  • Non-Residents are allowed to open temporary accounts which must be converted to a Resident Account once a permit is granted. These temporary accounts allow different currency deposits, your own circumstances will dictate which account is best for you.  Speak first to your new bank, or your gestoria or give our help line a ring.

  • Most UK Bank services can be found in the Spanish Banks including overdrafts and loans

  • Be aware of all Bank charges for services and transactions  ..Ask to see there charges list.
  • Many Brits Bank in Gibraltar for Tax reasons and a familiar environment

        

       

Mortgages are available from most Banks to Brits usually up to a maximum of 70% of purchase price, they will go higher if you are resident. They may also be offered by the house builder at better terms, some without proof of income.....again shop around for best deals

List of Possible Contacts

  • Banco Atlantico ... www.batlantico.es (recommended)

  • Banco de Santander Tel: London 0171-6067766

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  • Banco Central Tel : London 0171 - 5880181

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  • Abbey National (Gibraltar) 76090

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  • Credit - Suisse (Gibraltar) 7839
  • Norwich & Peterbough Building Society (Gibraltar) 9567

 

Other Spanish Banks

  • Banco de Vizcaya

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  • Banco Exterior

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  • Banco de Bilbao  Tel: London 0171 -6233060

 


TIP: Take a resident friend or Ourselves with you to open a bank account - a referral is the easiest way to open one

                                                                                                                         

Electronic mail
General Information : info@relocatetospain.com