How
to effectively organise your money, banking
and budget. To guard against theft, loss of
money or other circumstances travellers
should ideally have several sources of
money in Spain, for example they may choose
to carry Euro money and foreign currency
that can be changed, plus have a credit
card, an ATM card and travellers cheques.
Cards and cash should be stored in lockers,
safety deposit boxes or secured on your
person wherever possible. Keep a copy
of your travellers cheque numbers separate
from the cheques and also leave a copy
with a reliable person at home.
CREDIT CARDS
Most major credit cards can be used throughout
Spain for purchases including accomodation,
airtickets, and purchases in large shops.
In smaller towns the restaurants and shops
may prefer you to pay in cash. It is probably
a good idea to have several money resources.
Here are some handy numbers in Madrid
to call if you have problems with your
cards: American
Express, Plaza Cortes 2, metro: Sevilla,
tel. 913 22 55 00 Mastercard/Eurocar,
Lost card hotline tel. 900 97 1231 Diners
Club, Lost card hotline tel. 915 47
40 00
Visa International, Lost card hotline
tel. 900 99 1124
Lost travellers cheques, tel. 900 99 4426
Bureaux de Change - around Puerta del
Sol and Plaza Mayor (open till midnight)
Bureaux de Change - Cambios Uno, Calle
de Alcala 20, open to 8pm
BANKING
Travellers cheques and international currency
can be changed at change desks all around
Spain. Banks will generally give a better
rate than exchange offers and traveller's
cheques have a slightly better rate than
cash. ATMs accept most cards and are common
throughout Spain.
Banks are open weekdays 8:30 to 2:00pm,
Saturday to 1pm.
Major credit cards are widely accepted
throughout Spain and can be used in hotels,
restaurants and shops. Although smaller
establishments may not accept them. They
can also be used in bancomats (automatic
teller machines) or over the counter in
major banks.
CURRENCY
euro (EUR), formerly peseta (pta)
Since January 2002 all money in Italy
became the Euro which is roughly equal
to USD $1
In other currencies 1 Euro converts to
roughly these amounts (as of June 2003):
1 US Dollar = 0.84260 Euro
1 Euro (EUR) = 1.18680 US Dollar (USD)
1 Australian Dollar = 0.56353 Euro
1 Euro (EUR) = 1.77452 Australian Dollar
(AUD)
1 Austrian Schilling = 0.07267 Euro
1 Euro (EUR) = 13.76030 Austrian Schilling
(ATS)
1 British Pound = 1.40825 Euro
1 Euro (EUR) = 0.71010 British Pound (GBP)
1 Canadian Dollar = 0.63201 Euro
1 Euro (EUR) = 1.58224 Canadian Dollar
(CAD)
1 Chilean Peso = 0.001179 Euro
1 Euro (EUR) = 848.337 Chilean Peso (CLP)
1 Chinese Yuan Renminbi = 0.10193 Euro
1 Euro (EUR) = 9.81104 Chinese Yuan Renminbi
(CNY)
1 Hong Kong Dollar = 0.10805 Euro
1 Euro (EUR) = 9.25480 Hong Kong Dollar
(HKD)
1 Indian Rupee = 0.01807 Euro
1 Euro (EUR) = 55.32862 Indian Rupee (INR)
1 Israeli New Shekel = 0.19172 Euro
1 Euro (EUR) = 5.21599 Israeli New Shekel
(ILS)
1 Japanese Yen = 0.007179 Euro
1 Euro (EUR) = 139.290 Japanese Yen (JPY)
1 New Zealand Dollar = 0.48913 Euro
1 Euro (EUR) = 2.04444 New Zealand Dollar
(NZD)
1 Singapore Dollar = 0.48697 Euro
1 Euro (EUR) = 2.05352 Singapore Dollar
(SGD)
1 Thai Baht = 0.02025 Euro
1 Euro (EUR) = 49.37207 Thai Baht (THB)
1 Turkish Lira = 0.00000060 Euro
1 Euro (EUR) = 1,666,397 Turkish Lira
(TRL)
1 South African Rand = 0.10758 Euro
1 Euro (EUR) = 9.29510 South African Rand
(ZAR)
For more up to date and other exchange
rates try the following links:
For the most favourable rates, change
money through banks as ATM rates are based
on wholesales rales offered only by major
banks. Exchange booths will be more expensive.
TRAVELLERS
CHEQUES
Travellers cheques are a good backup if
you lose your credit cards or you can't
use the ATM. They can also be replaced
if they are lost or stolen. Make sure
you keep a record of your travellers cheques
in a safe place (one with you and with
someone else at home). Now that the Euro
is the standard currency in Europe you
can also use them after you leave Spain.
The procedure for using travellers cheques
is to sign them when you purchase them
from a bank or other outlet, and to countersign
them just as you cash them in. Do not
sign them before this. You will also require
identification (eg. passport) to cash
the cheques. The most widely accepted
brands of travellers cheques are American
Express, Thomas Cook and Visa.
In Spain some banks will not cash cheques
in the afternoon or at all, so the best
place to get them exchanged is at a cash
outlet like Thomas Cook.
TOP
TRAVEL INSURANCE
We recommend all travellers take out personal
travel insurance to cover any equipment
losses, damages or health problems that
may occur.
Insure and Go - has great deals on travel
insurance www.insureandgo.com
Travel and Holiday Insurance for Spain
European and Worldwide annual travel Insurance
European and Worldwide winter sports annual
travel Insurance
European single trip travel insurance
European single trip winter sports travel
insurance
Worldwide single trip travel insurance
Worldwide single trip winter sports travel
insurance http://www.holiday-villa-spain.com/index.htm
TRAVEL BUDGET PER DAY
Travelling in Spain may be marginally
cheaper than travel through England or
France, however it is still more expensive
than Eastern Europe. Using a very rough
breakdown of average costs per day per
person that are outlined below the average
traveller could get by spending approximately
50 Euros per day by staying in youth hostels,
minimising on museum visits and eating
one meal a day and buying a sandwhich
or pizza. However prices do vary from
region to region and are lower in the
countryside.
Accomodation: Camping - €. 14 per
person per night, Hostel - €. 20,
Hotel - €. 50+
Food: Breakfast - €. 2 (coffee and
croissant), Lunch - €. 3 (sandwhich
and mineral water), Sit down Dinner -
€. 20
Museums: Entry to 1 - €. 6
Transport: Public transport around the
city - €. 4, Between cities - €.15
eg.
Miscellaneous: Souvenirs etc - €.
3
TIPPING AND BARGAINING
Most restaurants include service fees
in their bill and it is not expected to
tip on top of this. However many Spaniards
may leave a small amount for services,
especially in bars and for things like
porters, waiters and taxi drivers. Most
bars / cafes do have a staff tip jar.
Bargaining is not normally practiced in
shops, but you can try it at market stalls
and at pensiones particularly if you are
staying out of season and for several
days.
