Foreign Currency Exchange in Spain

Living in Spain, and transferring foreign currency to meet your living expenses, mortgage repayments, and other expenditure is costly, especially when banks charge what seems like high fees for all transfers.

Creating an account with a company registered through the Financial Services Authority for provision of payment services, and who don't charge fees or commissions, and who offer commercial rates to individuals could save you hundreds or thousands of Euros every year.

Your money exchange requirements will be ongoing so you really must do this in the most economical way as possible.

Whilst your local high street bank may seem to be the easiest option, you are very likely going to be offered tourist rates of exchange, and fees for every transfer. Currencies Direct are not a bank, they are one of the world's most respected foreign currency exchange brokers and they are equally happy working for individuals as for companies.

Exchange rates fluctuate on a daily basis, and many people aren't able to take advantage of these fluctuations, so Currencies Direct have a number of options to ensure you get the best rate when you need it. For example;

Spot transactions are for people who need their currency straight away as the currency is purchased at today’s current rate. If you are not in a hurry and there is time before the payment is due you may wish to consider another option.

Forward Transactions are for those who wish to secure a rate for up to 18 months in advance to protect themselves against the fluctuations in the market.

Limit orders allow you to place an order in the market for your own desired exchange rate. Once your request has been entered into the system, it automatically purchases your currency once the market hits your desired rate.

To get started with Currencies Direct, try the rate watch service, or register for an account and start transferring funds immediately.