January 1, 2002 and after 133 years of history, the peseta ceased to be the official currency of Spain and the euro came to replace it in economic transactions. Time flies and it is not surprising that you still have bills and coins, prior to this great change that, at the time, involved some uncertainty and a general rise in prices due to rounding. If you have discovered that you still have an interesting sum in pesetas, It would be great to change to euros, you are on time. But you shouldn’t wait too long, because next year they will lose their economic value and only the “sentimental” will remain.
Steps to follow to exchange pesetas for euros
The only way to change your pesetas to euros is through the Bank of Spain (@Bank of Spain). Bank branches are no longer obliged to accept your bills and exchange them for euros, so you will have to take them to the central bank of the Bank of Spain (calle Alcalá, 48, Madrid) or to any of its 15 branches distributed throughout the country: A Coruña, Bilbao, Valencia, Barcelona, Seville, Palma, Tenerife or Alicante, among others. The opening hours of these offices are Monday to Friday from 8:30 a.m. to 2:00 p.m..
It is also possible do this procedure by combining the Internet and ordinary mail. This option is designed for people who do not reside in Spain and, therefore, it is impossible for them to access the physical offices of the financial institution.
To request this change you must have a valid electronic certificate and access the online headquarters of the Bank of SpainTo fill in the “Form for exchanging pesetas to euros from abroad”. You will have to fill out this form properly and send it. If you do not have a digital certificate, the procedure is very similar, but it will be necessary download the form before filling it in and then send it to the address: [email protected]
In both cases, your request will remain in the Bank of Spain registry and you will receive by email an “acknowledgment of receipt” that will serve as proof. After this management, you only have send by certified mail, to the office that you have chosen for the processing, the banknotes in pesetas (not coins) that you want to change to euros, together with a copy of your ID and a Bank account number where they will make the subsequent entry.