Where to change yen to euro near me

If you are planning a visit to Spain and have yens in your possession that you wish to change to euros, you will probably have asked yourself the questions «what is the yen to euro exchange rate» or «where to exchange yens to euros near me«. If you do the search on Google with your cellular phone, it will show you nearby currency exchange offices. However, the yen to euro exchange rates that your closest option offers may not be the best in the city, whether it is Madrid or Barcelona.

Cambiator helps you find the best exchange office, with the best yen 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 yens to euros near you.

Currency exchange suppliers

Currency exchange suppliers are, along with banks, the only two businesses that are allowed to do currency exchange in Spain. To operate, these businesses need to have a license from the Central Bank of Spain.

As such, they are obliged to be transparent in their operations with clients. That is, they must advertise their fees and commissions before carrying out the transaction. And they must inform you of the yen to euro exchange rate they apply and if there are limits on the number of yens or any other currency that you can exchange for euros.

In addition, they are surveyed and inspected several times a year by Spanish authorities in order to prevent money laundering. Banks and currency suppliers: 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 by financial authorities.

When changing yens for euros you may find two types of currency exchange suppliers in Spain. That is, there are two types of licenses from the Bank of Spain to operate as currency exchange suppliers.

Currency suppliers that buy and sell currency

The highest license is the one that allows the currency supplier to buy currency from tourists and foreign visitors (yen to euro, dollar to euro exchange, pound to euro exchange, etc.) and also to sell it (buy yens, buy dollars, buy pounds, buy pesos, buy crowns, etc.).

The Central Bank of Spain (Banco de España) 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 like Madrid or Barcelone, in Spanish airports and in train stations. The rates they give when you go to change yens 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 yens 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 yens at any airport because, although they advertise that they do not charge commissions, their exchange rates are very unfavorable and you will get very few euros for your yens.

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 from you, but not sell it.

If you search on Google «where to change yen to euro 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 yens, 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. These businesses do not change yens.

• International transfer businesses with a payment entity license like Moneygram, Ria or Western Union. Although these businesses do not change yens, they can 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. Remember these businesses do not change yens.

How to find the best option to exchange yens for euros

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

Go to Cambiator, select the «Sell currency» option, the amount of yen notes you have and your city of stay in Spain (Madrid, Barcelona etc.). Then click on «See rates» and you will see the total number of euros you will get for your yens at the different currency exchange outlets in your city, sorted out 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 head to the office with you yen banknotes 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 yens, thanks to Cambiator. And at no cost, as we are a free service for the end customer.

How many yens can you exchange for euros at once?

When visiting Spain with yens or dollars on your pocket and looking for a place to exchange your currency for euros near you, keep in mind that the money laundering prevention act imposes limits on suppliers for their clients.

In Spain, 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 yens whose equivalent value is greater than those 5,900 euros, we advice you to exchange that amount and then wait for a quarterly exchange or head to the office 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.