Money, Money, Money…

Where does it all go? In this country you wake up in the morning, or afternoon, with one shoe on, a cheesy Spanish song stuck in your head and empty pockets. It really isn’t an expensive place, but when the money looks like a quarter, well, you spend it like a quarter.

Banking and ATMs

In Spain there are about as many banks as bars, but bartenders work harder. Normal banking hours are from 8:30 a.m. to 2 p.m., and that’s it. Sometimes they are open on Saturdays, but I wouldn’t count on it. The lines are long, smelly, and normally someone will try to cut you, usually an old woman.

Banking here does have its advantages though. You can open up una cuenta de no residente, a non resident account, with a passport. You can deposit any amount in cash or check from your U.S. account, but the checks normally take about 15 days to process. By having an account in a Spanish bank you can avoid paying ATM fees every time you withdraw money and can recharge your phone any time at your ATM. If the exchange rate changes drastically in the months during your stay here it can either be a winning or losing gamble.

Almost all U.S. banks charge a foreign ATM fee when withdrawing money outside the country. Some also charge other fees as well. It is a good idea to talk to your bank about these fees and see which accounts have these fees waived.

Exchanging Cash and Travelers Checks

DO NOT exchange your cash at one of the little exchange booths on the street. They are convenient, but a rip off. Cash should be exchanged at a major bank branch.

Click here for the latest exchange rates and currency converter

Cell Phones

• Pick a cell phone plan with a specified cheap time. Only make phone calls during this time. Your cell phone will by far be one of your biggest expenses.
• Set up a preferred calling list with your cell phone provider. You will be able to talk to the people whom you speak with the most for pennies.
• Make one phone call instead of sending the same person 3 text messages. For the same price you can have a minute conversation and answer all their questions.
• Don’t lose your phone, but you won’t take our advice on this one!

Do not forget! Outside of Spain you will have to pay for incoming calls on your cell phone as well. It can be very expensive, so only answer important calls.

Enjoy Granada!!

Your friends @ DiscoverGranada
+34 954 22 66 42
www.DiscoverGranada.com

In Granada & Beyond since 2003
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