In this guide we review :
- Travelling in Spain - Practical tips
- Buying Euro Cash Online - Travel money for Spain
- Euro (EUR) - Currency Market News
- Sending Money to Spain - Save on Euro bank transfers
- Euro Exchange Rates - Latest info & charts.
Spain Travel Practical Tips
Most people understand at least a little English in Spain, most of the younger generation are fluent. ATM's are available everywhere in the larger cities, in the smaller towns you may have to walk a bit to the nearest one. Pickpocketing is something to watch out for in Spain, so instead of carrying your main credit card on you purchasing a Prepaid Travel Card before leaving home may save unnecessary hassles.
Most of the major cities have excellent local transport. Madrid and Barcelona have extensive bus and metro systems. Other cities and provincial capitals all have reasonable bus networks. You can buy single tickets on the buses or at estancos (tobacconists), but in cities such as Madrid and Barcelona, you are better off buying combined 10-trip tickets that allow the use of a combination of bus and metro, and which work out cheaper per ride. These can be purchased in any metro station and from some tobacconists and newspaper kiosks. Madrid has the countries most extensive metro train network, the other cities have reasonable but useful metro trains. The bigger cities have plenty of Taxis, but not so in the smaller towns.
Travel Money for Spain - Buying Euro (EUR)
Save money and time by Ordering your Euro Online from Travelex, you get better rates and can pick up the EUR cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Euro otherwise you may get much worst exchange rates.
Spain Trip Checklist
- Compare EUR Travel Cash Rates - probably why you are here!
- Hotel Deals - Save on your accomodation in Spain
- Travel Insurance - for those unexpected travel adventures...
- Lonely Planet - Travel Guide 3 for 2 offer
Euro (EUR) - Currency Market News
In mid-October, the euro was floating around 1.18 against the dollar, having pulled back from September’s long-term highs close to 1.21.
Against the British pound, the euro stood at 0.897. It had been as high as 0.9306 in August – a level that hadn’t been achieved since 2009.
Speculation surrounding the end of the ECB’s quantitative easing program has driven euro appreciation this year. For the first time since its introduction, the central bank will discuss tapering QE at its meeting on October 26th.
In September, Dutch bank ABN Amro predicted EUR/USD would rise to 1.3 by the end of 2018. As reasons for the pair’s climb, ABN cited “strong conviction” on future US dollar weakness and less stimulative ECB policy.
In September, HSBC cancelled its forecast for the euro to rise to parity with the pound. HSBC’s revised year-end forecast now places EUR/GBP at 0.893.
A divergence in the paths of monetary policy between the ECB and the Swiss National Bank will lead to EUR/CHF climbing to 1.18 in the medium term, from October's rate of 1.154, according to a prediction by Credit Agricole.
Bank of America Merrill Lynch go one further on EUR/CHF. The bank has a “minimum target” of 1.20 by the end of 2018. BAML says that EUR/CHF “looks cheap relative to its longer-term moving averages.”
Sending Money to Spain
When sending money to Spain it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :
- Open an account with a provider (id docs may be required)
- You specify the local or Euro amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted EUR amount will be transfered to the recipient account you specify in Spain.
You can save around 5% and maybe more - end result is more Euro deposited into the recipient bank account in Spain and less margins and fees kept by the banks!Compare Transfer Exchange Rates to Spain