Yes, you can take money out of Spain in the form of cash or transfer to another bank account outside of Spain, but certain regulations and fees may apply.
For those who want further information
Yes, you can take money out of Spain in the form of cash or transfer to another bank account outside of Spain, but certain regulations and fees may apply.
Spain has a free-flowing economy, and there are no restrictions on the amount of money you can take out of the country. However, if the amount is over €10,000 in cash or its equivalent in foreign currency, you must declare it to the customs authorities. Failure to do so could result in fines.
If you want to transfer money from a Spanish bank account to an overseas bank account, you will need to pay a fee. The fee varies depending on the bank, the amount of money you are transferring, and the destination country.
According to the European Central Bank, the Spanish banking system is one of the largest in the Eurozone, with 138 banks. The banking sector in Spain is highly competitive, with many international banks offering services throughout the country.
There are over 50 foreign banks operating in Spain, including HSBC, Deutsche Bank, and Barclays. The Spanish banking system is also home to many leading institutions such as Santander, BBVA, and CaixaBank.
In conclusion, taking money out of Spain is possible but regulated. It’s always advisable to check with your bank and the customs authorities beforehand to avoid any issues. As Warren Buffet said, “Price is what you pay. Value is what you get.” Make sure you are aware of the fees and charges associated with taking money out of Spain.
| Table of Fees for Transferring Money from a Spanish Bank to an Overseas Bank |
| — | — |
| Bank | Fee |
| CaixaBank | €30 – €60 |
| BBVA | €15 – €50 |
| Santander | €30 – €100 |
| Deutsche Bank | €30 – €100 |
| HSBC | €25 – €80 |
In this video, you may find the answer to “Can you take money out of Spain?”
The Honest Guide warns viewers about common ATM tricks when traveling, including how ATMs attempt to make you withdraw more money and how declining currency conversion results in saving money. They mention the ATM imposed fee, which differs from your bank’s fee, showing a map of such ATMs in Prague and other tourist destinations. Travelers are advised to decline dynamic currency conversion (DCC) and choose the local currency, as fees will be higher. It is encouraged to use cards for payments instead of cash withdrawals and to find banks with no ATM fees.
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How much cash can I take out of Spain?
€10,000 You must declare at customs any money, negotiable instruments or securities worth more than €10,000 (or the equivalent value in a foreign currency) per person (you must complete a Statement of payment methods S-1 to be submitted to the customs service).
What are the rules about money in Spain?
Accreditation of financial means In any case, and regardless of the length of stay, the traveller must have at least 810 euros or its equivalent in foreign currency.
Can I use my US debit card in Spain?
The reply will be: Visa and Mastercard have wide acceptance at shops and ATMs throughout Spain. Use your debit card or credit card like you would in the US, but look for cards that waive the currency conversion fee when you spend.
Can I use American cash in Spain?
Answer will be: The currency of Spain is the Euro (€). U.S. dollars are not accepted.
Can I take money from Spain to other European countries?
Under EU rules, you can take an unlimited amount of money from Spain to some other European countries, such as the UK. However, because individual member states can set their own rules, it’s important to check the details for the EU country you’re travelling to, before you set off.
How to leave Spain with cash?
In reply to that: When leaving or entering Spain with cash, it must be declared at customs If the movement involves leaving Spain for a member state of the EU through a border which doesn’t have permanent customs services, it must be done at the Regional Unit of Customs and Excise Taxes of the State Agency for Tax Administration.
Do ATMs charge a withdrawal fee in Spain?
As a response to this: In Spain, you’ll find that most ATMs ("cajero automático" in Spanish, "caixer" in Catalan) have a withdrawing fee for international cards like Visa/Mastercard. ATMs are legally required to indicate the exact fee and ask for confirmation.
Can I use a debit card in Spain?
Chances are that if you’re using a foreign debit or credit card in Spain, you’ll have to pay a fee to use the ATMs there. Even local account holders are often charged to use an ATM that’s not run by their own bank. The biggest thing to watch out for while you travel is dynamic currency conversion (also called DCC for short).
How to send money to Spain?
Response: If you have a bank account in Spain, or know someone who does, you can send money to Spain using the real mid-market exchange rate. It’s a convenient way have your euros waiting for you, with no hidden fees.
Do ATMs charge a withdrawal fee in Spain?
The answer is: In Spain, you’ll find that most ATMs ("cajero automático" in Spanish, "caixer" in Catalan) have a withdrawing fee for international cards like Visa/Mastercard. ATMs are legally required to indicate the exact fee and ask for confirmation.
What currency do you use in Spain?
Answer to this: Hola, amigos! Are you planning a trip to the land of bullfights, tapas and flamenco? One of the things that makes Spain so travel-friendly is the use of euros as the national currency. Credit cards, debit cards and cash are all accepted.
Can I use a debit card in Spain?
As an answer to this: Chances are that if you’re using a foreign debit or credit card in Spain, you’ll have to pay a fee to use the ATMs there. Even local account holders are often charged to use an ATM that’s not run by their own bank. The biggest thing to watch out for while you travel is dynamic currency conversion (also called DCC for short).
