“What’s the best way to take money on holiday?”, is a question frequently asked on many holiday sites and may be one that visitors to our lovely area of Spain may want to know about. As usual, there is no one simple answer. It really boils down to cost, security and being in the right place at the right time. Don’t forget Black Wednesday when interest rates were so badly affected by money speculators. It’s an art, but here are a few tips that may help.
Consideration of the best way to transport money should begin long before you leave home for the airport for several reasons; a) it’s rare that you ever get the best rate at airport exchange booths, b) you may need Euros for onward travel once you arrive at Malaga Airport and c) the opening times of exchange offices and particularly banks in Spain is limited. You don’t want to spend a night in your hotel / apartment watching everyone going out and you have no cash!
When changing foreign currency you should always have the following in mind. Security, convenience and cost. Thefts, burglaries and robberies are no more common in Benalmadena than they are in most parts of the UK, however thieves are aware that holidaymakers carrying money and valuables and may be easy pickings. We would advise that wherever you are staying you either make use of a safety deposit box or hotel safe if they are available for your valuables. We would advise against carrying around cash and large amounts of valuables wherever possible.
Travellers cheques provide a safe way to use your money abroad. Although you’ll pay commission in the UK to buy them, most of the exchange offices in Benalmadena and Arroyo de la Miel will not charge commission to cash them. Exchange offices in other towns like Torremolinos and Fuengirola adopt a different system of charging commission as do banks in all the towns on the Costa including Benalmadena. The use of travellers cheques also requires that you produce your passport too.
If you have security both for travelling and at the resort, taking cash can save you a few pounds. Most of the exchange offices in Benalmadena and Arroyo de la Miel accept English notes and give the same commission free exchange rate as they do for travellers cheques. Shop around for the best rates as they do vary significantly. Most exchange offices have boards outside displaying their current rates. Opening times are usually 10am until 2pm and 5pm until 8pm, Monday to Saturday. Most are closed on Sundays.
