Ibiza Currency

Bowsa

Hi all


Looking at a trip to Ibiza soon, i was going to change the bulk of our money before going - my dad however has said we would be better off Changing £100 or so here to see us through, then changing the rest when we get there.

The rates here aren’t great but also not sure what they would be in Ibiza - also not sure if there is a cash limit we can take through hand luggage as we won’t have any hold luggage.

Cheers all

fatrab

IIRC 10,000 EURO is the safe limit before they throw you in a room on suspicion of money laundering so unless you're planning the party of a lifetime I think you'll be ok!


Watch out for the rates abroad, there's usually caveats attached to the advertised rate. But there's not much difference from the rates here in my experience. Perhaps look on the main site for other options though, like how to maximise your exchange rate before you go, or get the best card/best rate for overseas spending?

prowla

When I've been to the Balearics I've just got cash from a cashpoint/ATM.

PeacefulWaters

Starling Bank maybe your best bet to withdraw overseas.

Alternatively, there are a number of credit cards that work in your favour.
http://www.moneysavingexpert.com/cards/travel-credit-cards

DCFC79

Dont go taking a huge amount of cash eith you, take 100 euros if you like and then get more out using a suitable card, get a top up and top it up with an amount and use it as a backup.

Starling is a good choice, Monzo is too but I believe theres a daily limit on how mich you can with draw.

Bowsa

Thanks I thought it was 10k as well but wanted to make sure lol - certainly no where near that.

I would have thought cash would be king on the island never been though, so really not sure atm. Half of me thinks that we should just change it all here and be done with it.

Bowsa

Would be looking to avoid any extra credit cards etc as looking to get a mortgage very soon

zagfles

Changing cash is out of the ark. There are good prepaid cards and debit cards if you don't want a credit card, see link above (it's not just credit cards despite the title).

PeacefulWaters

Bowsa wrote: »

Thanks I thought it was 10k as well but wanted to make sure lol - certainly no where near that.

I would have thought cash would be king on the island never been though, so really not sure atm. Half of me thinks that we should just change it all here and be done with it.

Card is king. ATMs are real. Changing money in a currency exchange place invariably leaves you heavily out of pocket compared to a favourable card.

Would be looking to avoid any extra credit cards etc as looking to get a mortgage very soon

Starling bank isn't a credit card. But a credit card that's used and repaid in full each month can very much be a positive.

eDicky

Bowsa wrote: »

Half of me thinks that we should just change it all here and be done with it.

Re-educate that unwise half of yourself - the cost involved in exchanging cash, then exchanging back any left over (or excessive spending to use it up) is totally unnecessary.

Spend with a suitable 'travel' card and use it to get cash euros from ATMs, making sure to pay in euros and select 'Without Conversion' if an ATM offers you a rate.

Starling Bank is perfect, and a correctly used 'travel' credit card will, if anything, enhance your credit history. Loot prepaid is a good backup/addition to those recommended by MSE:

https://loot.io/

huw01

Can anyone clarify if the Santander 123 debit card used at a Santander ATM in the ballearics is classed fee free? They stipulate mainland Spain in their terms and conditions, but asking in branch the other day didn!!!8217;t seem to yeild any concrete answer. I had to inform them that Mallorca was an island, the counter staff thought it was a resort on the Costa Blanca !

There are conflicting views when doing an internet search on the topic, so I would be grateful if anyone has first hand experience of using their Santander 123 debit card in a Santander ATM in either Mallorca, Menorcaor Ibiza. Thanks