Currency Exchange Tenerife

Currency Exchange Tenerife

Traveling to Tenerife? You’re best advised to change your money before you go, since you’ll get more value for your currency in Britain, given the U.K’s competitive travel exchange industry. The Tenerife information Center advises to avoid changing your money at the airport or in Tenerife’s banks and to use ATMs and exchange places whenever you can. Otherwise, most hotels in Tenerife offer an exchange service, as do travel agents. A good idea is to look for the ‘Cambio’ signs and to remember that exchange rates depend on where you go. A central kiosk may be your best choice. Read on below about Currency Exchange Tenerife

Currency Exchange Tenerife: Banks – Tenerife banks open Monday to Friday from 8.30 am to 2pm with variations, while some work on Saturday to 1pm, from October to April. All accept travelers checks and, of course, major international credit cards.  Banks charge for each cash advance and ATM transaction – so keep this in mind if you tend to withdraw small amounts and aim to do so often. Major banks, exchange bureaux, and large hotels still accept travellers checks, although they’re becoming less common. If you do have travelers checks, bring them in sterling or dollars, since there are increasing reports of Euro checks being refused, especially after Brexit.

Currency Exchange Tenerife: Money exchange booths – These are also known as forex providers or Bureaux de Change. Tenerife’s kiosks operate long hours, which is how they get their clients. Although the Tenerife Information Center rates these Bureaux acceptable and says they offer attractive exchange rates, be aware that some may rip you with dated currency or too little return for your money. All display their rates outside and you can haggle and shop around to compare rates – although differences may end up as returning you only one céntimo.

Currency Exchange Tenerife: ATMs – MasterCard/ Cirrus and Visa/Plus are accepted in nearly all of Tenerife’s many ATMs, with, usually, at least one bank and one ATM in each village. Bank exchange rates are good – you receive the real exchange rate when you withdraw your money, so if the exchange rate is $1.30 per euro, you’ll get $1.30 per euro. If you’re using an ATM from the bank, you’ll be asked for a one-time withdrawal fee of €5.

Do you want to know Tenerife’s exchange rates? 

The Tenerife Information Centre provides a regularly updated table that shows the island’s latest exchange rates with more information in helping you make the most of your money in Tenerife.

 

If you have payables or receivables in foreign currency, or need to transfer funds internationally, or simply want to invest in foreign currency, Callaghan Financial  Services offers specialized services to assist you in managing your foreign exchange exposure. Contact us and one of our UK qualified advisers will be happy to answer all your questions.

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