If you want to change francs from CFA to euros you only need to choose francs from CFA in our currency purchase form, tab Sell Currency. Next type in the amount you want to sell and choose your city so that we can show you the closest currency exchange office.
Cambiator will show you the results of the different currency suppliers, ordered from more interesting to less appealing. We will also display the average rate at Spanish high street banks and at the airports (if they buy francs from CFA).
Normally, when you change CFA Francs to euros at your bank office, they will already know their clients and you will only have to identify yourself as a customer of that bank.
If you change CFA Francs to euros at a foreign currency supplier´s outlet, on the street or at the airport, you will have to provide an updated and valid ID card (passport or resident´s identity card called DNI or NIE in Spain). Take into account that the driver's license will not be accepted as a valid identification document when changing CFA Francs to Euros.
In Spain, foreign currency suppliers and some banks are starting to propose online currency exchange services to their customers when you change CFA Francs to euros online.
You only have to do a XOF-EUR booking. Afterwards choose a store of the provider where to pick the euros from. And the day you will go to the chosen agency.
Bear in mind that prices vary daily so it will be necessary to book online the same day you will head to the store.
If you do not qualify for buyback, head to our Sell your currency tab, fill in the CFA Franc value you did not spend (banknotes only, not loose coins) and choose your town. Cambiator will tell you the total Euros the different foreign currency suppliers will offer that day in your town for your leftover francs XOF.
Consumers only remember their bank when change francs to euros. But we advise that you weigh in the alternative of currency providers. And this is because nearly all Spanish banks charge you a fixed commission of 3% (with a minimum of 6 to 10 euros) in addition to a margin on the francs that you sell them in exchange for euros.
On the contrary, the foreign exchange providers that proclaim no commission are more attractive to your pocket since they do not impose on you this fee.
Cambiator compares all the time for you the XOF-EUR foreign exchange prices in your location so that you can pick the option that best suits you.
Generally, the online rates of the holiday money providers in Spain, are cheaper than the rates you get present yourself directly in one of their stores.
So Cambiator advises you to carry out a rate comparison when if you need to change francs from CFA to euros.
And later Cambiator advices to book online to choose the collect in store delivery method at a branch of the currency exchange suppliers around you. This way you will be handed more euros for your francs from CFA comfortably.
In general, our advice is to avoid any supplier that charges you a commission as well asan exchange margin, and browse on our website the CFA Franc to euro day to day exchange rate.
Literally all Spanish banks charge you a three per cent fee, with a minimum (whichever is higher) amount of 6 to 10 euros.
Keep in mind that the smaller the quantity of francs XOF to change to euros, the higher the impact of this fixed commission on your personal finances.
Travel money suppliers in Spain usually cap the maximum quantity of foreign currency to be bought from CFA Franc to euro to the equivalent in euros to 3,000 to 6,000 € per calendar quarter.
This is a requirement the money laundering prevention regulations. If you want to change a larger amount of francs from CFA to Euros, Cambiator recommends to speak directly with the currency provider.
They might ask from you additional documentation and proof of the source of your francs from CFA (identity card, passport, certificate of professional activity, income statements, etc.).
To understand how foreign exchange works, think of any retail store that sells a product to you as an individual. The business acquires wares from a provider named wholesaler at a purchase price, to which it includes a profit margin.
The difference between the sell price at which the consumer buys in that branch (eg your francs XOF) and what it cost the store to get those francs XOF is the benefit it obtains in that foreign exchange.
But there is a distinction in foreign exchange with other businesses. In general, foreign currency notes (francs XOF in this case) pass on from consumer to consumer, that is, they are not consumed.
Consequently, it may be the case that a bank or a currency provider acquires francs XOF from a tourist who enters Spain (obtaining a margin) and those same francs XOF become yours when you buy that currency (new profit margin).
.Every day of the year the CFA Franc to euro rates change in foerign markets, depending on the vigour of the CFA Franc currency against the Euro.
This explains that, there is no best time to change francs with euros. Nevertheless you may find free websites like Cambiator that support you by comparing all the francs being bought by currency providers, the airport and the banks. With this information you will succeed in selling your francs to euro at the best rates each time.
Best rate of the day (change currency to euros)