≫Where to change dollars to euros near me

Where to change dollars to euros near me

Tabla de contenido

1.1. Currency suppliers that buy and sell currency

1.2. Currency suppliers that only buy foreign currency

2. How to find the best option to exchange dollars for euros

3. How many dollars can you exchange for euros at once?

If you are visiting Spain and have dollars in your possession, you will have asked yourself the question “where to exchange dollars to euros near me”. If you do the search on Google with your cell phone, it will show you nearby currency exchange offices. However, the dollar to euro exchange rates that the closest option offers may not be the best in the city.

Cambiator helps you find the best exchange office, with the best dollar to euro exchange rate in your city, in real time, at no cost to you, and without commissions. Keep reading to find out how to learn where to exchange dollars to euros near you.

Currency exchange offices

Currency exchange offices are, along with banks, the only two businesses that are allowed to exchange currencies in Spain. These are businesses that must have a license from the Bank of Spain in order to operate.

As such, they are obliged to be transparent in their operations with clients. That is, they must announce before carrying out the operation, whether they have commissions or not (“no commission”) and they must inform you of the exchange rate they apply and if there are limits on the number of dollars or any other currency that you can exchange for euros.

In addition, they are subject to strong inspections on the currency exchanges they carry out in order to prevent money laundering. Outside of these alternatives, there would be a black market for currency exchange, but in Spain it does not exist because currency exchange is very controlled.

There are two types of currency exchange offices in Spain. That is, there are two types of licenses from the Bank of Spain to operate as currency exchange offices.

Currency suppliers that buy and sell currency

The highest license is the one that allows the currency exchange office to both buy currency (dollar to euro exchange, pound to euro exchange, etc.) and sell it (buy dollars, buy pounds, buy pesos, buy crowns, etc.).

The Bank of Spain technically calls them “establecimientos de venta y compra de moneda extranjera” (foreign currency purchase and sale establishments).

In order to operate under this license, the required corporate form is a public limited company with a high share capital and operational managers, as well as a whole mechanism to prevent money laundering.

You can find these businesses in the center of tourist cities, in airports and train stations (RENFE is the former public railway operator in Spain). The rates they give when you go to change dollars to euros, or any other currency, are more interesting in the city center, where they have competitors, than in airports and train stations.

Keep this in mind if you do the search “Where to change dollars to euros near me” on Google.es as soon as you land your flight. The search engine will take you to one of the offices that Global Exchange has at Madrid Barajas Adolfo Suárez, Barcelona El Prat, Alicante Altet or Málaga airports.

We advise you not to change your dollars at the airport because, although they advertise that they do not charge you a commission, their exchange rates are very unfavorable and you will get very few euros for your dollars.

Currency suppliers that only buy foreign currency

A lower license from the Bank of Spain is that of foreign currency purchase establishments (“establecimientos de compra de moneda extranjera“). These are businesses that even a licensed individual can carry out, but they can only buy currency, but not sell it.

If you search on Google “where to change dollars to euros near me“, the search engine can show you three types of businesses:

Currency exchange outlets as such that buy or buy and sell currencies. It is the classic store where you hand over pounds or dollars, show your ID (Passport or local DNI or NIE) and they give you euros at the exchange rate of the day.

Remittance sending call centers. These are businesses whose main activity is sending money from Spain to other countries (sending remittances). Additionally and as a complementary business, they can buy dollars from you and give you euros in exchange. But they cannot sell them to you because their license does not allow it.

International transfer businesses with a payment entity license. Moneygram, Ria or Western Union can also exchange dollars for euros because they have a higher banking license than the currency suppliers called “payment entities” (entidad de pagos). However, keep in mind that their strength is international transfers and not so much currency exchange.

How to find the best option to exchange dollars for euros

To find the best option, we present Cambiator.es. We are a free comparison tool for 6 currency suppliers in Spain

Go to Cambiator, select the “Sell currency” option, the amount of dollar notes you have and your city of residence in Spain. Click on “See rates” and you will see the total number of euros you will get at the different exchange offices in your city, ordered from most to least interesting.

Fill in your email and your phone number and you will receive an email with the details of the office to head to and an exclusive code to present at the store. You will only have to go to the office from that moment until the end of the day and fulfill the operation.

With just three or four clicks you will have obtained the maximum number of euros for your dollars, thanks to Cambiator.

How many dollars can you exchange for euros at once?

When visiting Spain with dollars and looking for a place to exchange your dollars for euros near me, keep in mind that the money laundering prevention law imposes limits on suppliers for their clients.

In our country, the maximum amount that an indivual can exchange per calendar quarter (January-March, April-June, July-September or October-December) is 5,900 euros or its equivalent in foreign currency provided that you show your passport or a local identity document (DNI or NIE).

That is to say, if you carry dollars whose equivalent value is greater than those 5,900 euros, we advice you to exchange that limit and then wait for a quarterly exchange or go with another person, both with a passport or similar identity document.

However, the law does not prevent a higher amount from being exchanged, but, in that case, the currency supplier may ask us to justify the origin of those funds with some additional documents like a payroll, a lottery ticket, the sale of a property, etc.

Keep that in mind.

Frequently Asked Questions (FAQs) EUR-USD

How to know where to change dollars to euros near me

If you search on Google, it will show you curency suppliers near you. But you won't know their dollar to euro exchange rates and you'll waste a lot of time.

If you search on Cambiator, you'll be able to see the euros that each supplier gives you at 6 different suppliers in your city at no cost to you. You'll just have to choose the one that gives you the most euros and go to it with the dollars and your passport.

How many dollars can I change to euros in Spain? Is there a maximum limit?

The law on the prevention of money laundering (AML) limits the maximum amount of dollars to be changed to euros to 5,900 euros per individual and calendar quarter (January-March, April-June; July-September and October-December).

If you are going to exchange a larger amount of dollars for euros, it is advisable to head to the currency exchange outlet with a companion and carry out two exchange operations.

However, keep in mind that there are exchange offices that, for security reasons, may have a limit of less than 3,000 euros per operation, but, nevertheless, allow two operations to be carried out by the same person, one after the other.

Cambiator helps you save time when you plan to exchange dollars for euros. We will point out these particularities when you make a rate comparison with us.

Do you need to bring any ID to exchange dollars for euros?

When you are going to exchange dollars for euros, the Spanish regulations require that you identify the person who is making the currency exchange operation. Especially if the amount of dollars you are carrying with you is high.

For everything to go well, you must go to the exchange office with a valid ID such as your passport, your NIE document or the Spanish DNI.

Keep this in mind, however, that in Spain, a driver's license is not valid as an ID document.

Where can I find the best exchange rate for dollars to euros?

Dollar rates vary every day at all times. Currency suppliers are usually very attentive and vary their dollar to euro rates with the evolution of the dollar price. This means that there is no best time of day or place where you get the best exchange rate. For this reason, we recommend that you use a currency exchange comparator such as Cambiator.es.

We offer a free service for the user that compares the dollar to euro rates in real time in 6 suppliers.

If you check this page you can enter the dollar banknotes you have and your city and we will tell you where you get the best rate. That is, where you get the most euros for your dollars.

Where can I exchange dollars for euros in Madrid?

As with any other business, look for places where there is competition. In Madrid, the central area (Puerta del Sol, Gran Vía, Calle Mayor and surrounding areas) is full of currency exchange outlets. Every day they compete with each other to win over tourists who arrive with foreign currency (dollars, pesos, crowns, etc.) and need euros.

But be careful before choosing one because some of them charge you a commission. Those that don't, change rates several times a day so Cambiator will help you not to waste time and find the most interesting offer at all times, and at no cost to you.

Where can I get more euros for my dollars in Barcelona?

In Barcelona you have many currency supliers in the Las Ramblas area and the city port. In some of them they charge you a commission and in others they don't.

Those that don't, modify their dollar to euro exchange rates numerous times a day depending on what their competitors do, so Cambiator will help you not to waste time and find the most interesting offer in Barcelona at all times, and at no cost to you.

I arrive at Madrid airport with dollars, is it interestingo to exchange them there?

Don't even think about it. Global Exchange, the airport's currency exchange supplier, has to pay a very high fee to the airport owner and manager (AENA) for operating in its facilities.

This means that, even though it advertises "no commission" on its signs, their offered dollar to euro exchange rates are very uninteresting. As a result, you will get much fewer euros for your dollars than in other places in the city.

Cambiator is a rate comparison of 60 currencies in six suppliers. Run a simulation in two minutes to find out where to exchange dollars for euros near you, once in Madrid.

Do currency suppliers charge commission in Spain? Is it legal?

Currency exchange rates are totally free in Spain for suppliers as long as they are transparent in their communication. If you arrive in Spain with dollars, most currency suppliers will advertise "no commission", although some of them charge commissions when you pay in cash or if you have not previously made an online reservation on their websites.

None of the 6 currency suppliers that collaborate with Cambiator charge you a commission so you can rest easy. But it is important to compare daily rates to find out where you will get more euros for your dollars, and you can do this for free on this page in a couple of minutes.

Which is the cheapest currency supplier to exchange dollars for euros?

If you are planning to come to Spain with dollars or any other foreign currency (pounds, pesos, soles, crowns, etc.) we advise you to check rates in our currency exchange rate comparator.

Cambiator is a free and very convenient service for you, which will allow you to see the exchange offices near you that give you the most euros for your dollars, daily, in real time and without any additional cost for you.