In Spain the banking system is well established and modern. There are two types of banks in Spain, savings and loans banks and clearing banks. Several foreign banks also operate in Spain. There are many banks and all banking activity is controlled by the Bank of Spain (Banco de España), which has its central office in Madrid and branches in all provincial capitals. There are several banks in Spain and some of the most efficient and widespread banks are the "Banco Santander Central Hispano" (BSCH) and "Banco Bilbao Vizcaya Argentaria" (BBVA). These two banks can change most brands of travellers' cheques, and give cash advances on credit cards. Keep in mind, however, that commissions at the BSCH are generally the lowest.

In Spain, banking hours are generally Mon-Fri 09:00-14:00, with some city branches open Sat 08:30-13:00 (except during the summer). Most banks are closed on Saturdays during August.

ATMs are widespread and are generally the cheapest and most convenient method of obtaining money. There are hundreds of them throughout the country. At airports, major shopping centres and outside bank offices. Spanish ATMs are very sophisticated and start by offering you a choice of language (usually English, French, German or Spanish). Instructions are very easy to understand.

Three ATM networks operate in Spain: 4B (the most common), ServiRed and 6000. Most Spanish banks are affiliated to one of those ATM networks. The three systems are compatible. Spanish ATM cards use a 4-digit PIN code but it has been reported that 6-digit PIN codes used in other countries will also work. Most cash machines issue up to 150 euro. There are numerous ATMs in Spain and you can even find them in larger villages, although you shouldn’t count on this, especially in rural Spain. Major ATM card companies include VISA, AMEX, Mastercard, Cirrus, 4B, Maestro, Plus, etc.

Banco Santander Central Hispano

Banco Popular Español

BBVA

La Caixa

Money and the exchange rate

Travellers' cheques and credit cards

Visa Travel Money (www.visa.com)

Changing money

Wiring money

Youth and student discounts

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