Expat Finance Services in Spain

The currency used in Spain since 2002 has been the euro. In 2002 the euro took the place of the Spanish peseta which had been the legal currency of Spain since 1911. Spain is one of the first twelve European Union members to use the euro. Coins are issued in one and two euros, notes in the denominations of 5, 10, 20, 50, 100, 200 and 500 euros.

Anyone can open a resident bank account in Spain, provided they stay in the nation for 3 months, and assuming they can demonstrate this. Others may still get non resident bank accounts that are similar except that they aren't provided with a credit card and accompanying overdraft protection. Credit and debit cards in Spain are quite commonplace and the largest cards are acceptable anywhere, with ATM machines always open and a frequent sight. They will work with only a pin number being required.

In certain Spanish businesses there may be a minimum buying limit for credit cards of around 15 euros. There are also yearly fees for using credit cards. Bank checks are also often used and acceptable to the Spanish, cost no fees to write out, and are not suspected to be bad, as this is felt to be a major crime in Spain.

See our guides

Basics of banking in Spain

Expat Finance Services in Spain

See our guides

Currency Exchange in Spain

Current Account in Spain

Offshore Savings in Spain

Expat Mortgages in Spain

Financial Advice in Spain

Expat Savings in Spain

QROPS in Spain

Online Broker in Spain

US Expat Tax in Spain

Tax Advisory in Spain