Foreign Currency Trading Institutions
These include individuals and entities carrying out foreign exchange services as a business.
Their legislation is contained in Royal Decree 2660/1998, of December 14 (in Spanish)Abre en ventana nueva.
Their requirements vary depending on whether:
- They only buy (but not sell) foreign currency (usually as a complement to their main business, such as in the case of hotels).
- They also sell foreign currency, in which case they must be a limited company with this activity defined as their corporate purpose.
Banking institutions may also offer foreign exchange and traveller’s cheques services.
Banco de España’s Credit Institutions RegisterAbre en ventana nueva does not include the proprietors of currency-exchange bureaux that are solely authorised to exchange foreign currency for euros, as they are not primarily financial businesses (e.g. hotels, travel agencies, etc.).
FREQUENTLY ASKED QUESTIONS
Is the money in a deposit account or time deposit safe if the bank goes bankrupt?
Read answeraboutIs the money in a deposit account or time deposit safe if the bank goes bankrupt?
Are all lenders supervised by the Banco de España?
Read answeraboutAre all lenders supervised by the Banco de España?
