A considerable number of individuals have moved to card payments for travel, but some still support cash and there may be instances on holidays where cards are not accepted.
If you are planning a Spanish holiday this year, you may be considering withdrawing the euro to shop, eat out, or buy some souvenirs.
However, even if you visit mainland Spain, the Canary Islands, or the Balearic Islands frequently, you may not notice that some changes are being made regarding the euro bill.
First, don't withdraw your 500 euro memo at currency exchange or banks. The European Central Bank and the Bank of Spain officially stopped production of these notes in 2016, but the number of these purple notes is still in circulation.
They are fiat currency, but according to Eurowi, they are becoming more and more difficult. The high value of the notes, coupled with its relationship with criminal conduct, led to many places that refuse to accept them.
If you withdraw money and receive a memo of 500 euros, ask for a small denomination instead. You can also take big notes to a Spanish bank for exchange.
The Spanish Central Bank also deleted the old one and damaged a 50 euro memo from distribution. The initiative, scheduled to launch in July 2025, is designed to enhance security in cash transactions and reduce fraud.
Policy changes coincided with the tourism season, gradually progressing from old and damaged bills. This may result in tourists being denied a worn or torn note by the cashier.
When exchanging holiday money, make sure the 50 euro memo is in good condition and request a replacement if you notice any damage.
Damaged notes can be exchanged at the Bank of Spain branch or selected partner bank, but please do not forget to bring some form of ID, such as a passport.
We will not exchange counterfeit or intentionally damaged notes. It is noteworthy that for those who usually throw spare replacements into the jar after a holiday, some countries could quickly eliminate one cent of Eurocoin.
Countries such as Ireland, Belgium and Italy have already stopped using these coins, instead rounding up cash transactions to the nearest five cents, and are no longer being created.
Many eurozone countries are considering the following lawsuit: So if you accumulate a jar full of copper, consider spending it on your next holiday on your ice cream, as it may not be acceptable in the near future.
