Exchanging loose change for banknotes can be difficult at standard banks in Spain. This guide explains how to exchange coins in Madrid, listing free options and retail services.
The Banco de España option
The central bank of Spain is called the Banco de España (Bank of Spain). They offer a free coin exchange service at their Madrid headquarters.
The building is located at Plaza de Cibeles in central Madrid. You must book an appointment online before visiting.
The Spanish term for appointment is cita previa (prior appointment). You must bring your passport or residency card to enter the building.
They allow you to exchange up to one thousand coins per person. You should sort the coins by value before your appointment.
The bank staff can provide plastic coin tubes or wraps to help you.
Banco de España appointment process
You must select the Madrid branch when booking your appointment online. The bank will send a confirmation email containing a reservation code.
You must show this code and your NIE at the entrance. The security staff will inspect your bags before you enter the main lobby.
Once inside, a digital ticket machine will issue your queue number. The teller will count your sorted coins using an electronic counter.
They will give you the equivalent value in banknotes or transfer the money to your bank account.
Commercial retail banks
Commercial banks like Santander or BBVA usually only help their own customers. Many branches charge a high fee for counting and processing coins.
This service fee is usually around ten euros per transaction. You must place the coins in special plastic rolls.
These coin rolls are called blísters de plástico (plastic coin rolls). You can request these plastic wraps at your bank branch.
Some modern bank branches have automated coin deposit machines in the lobby. These machines count your coins and credit your account directly without fees.
Commercial bank policies for non-clients
Non-clients cannot exchange coins at commercial bank branches. If you do not have an account, the teller will refuse to help you.
Even account holders must follow strict hours for coin services. Most banks only accept coin deposits on specific mornings of the week.
We recommend calling your bank branch to confirm their hours before you visit.
Coinstar machines in supermarkets
You can find automated coin-counting machines in many Madrid supermarkets. The most popular brand is Coinstar (coin-counting machine network).
These machines are located inside Carrefour, Dia, and Alcampo stores. You dump your loose coins into the machine to count them.
The machine prints a paper voucher called a vale de compra (shopping voucher). You can use this voucher to pay for groceries at the checkout.
You can also exchange the voucher for cash at the customer service desk. However, the machine charges a high commission of 9.9 percent.
The legal limit on coin payments
Under Spanish retail regulations, shopkeepers do not have to accept more than fifty coins per payment. This legal limit prevents customers from paying large bills using only copper coins.
However, public transport ticket machines and automated checkouts do not have this restriction. You can use them to spend large amounts of small change.
Alternative ways to use loose coins
You can spend your coins directly to avoid fees. Use the cajas de autopago (self-checkout machines) at supermarkets or retail stores.
These machines accept bulk coins for payment. You can dump your handful of coins into the machine hopper.
You can also use coins to buy metro tickets at transit stations. Finally, you can donate your coins to charity boxes at supermarkets.
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Questions and answers
Do I need an appointment for the Bank of Spain?
Yes. You must book a cita previa on the official Banco de España website.
Can I still exchange old Spanish pesetas?
No. The deadline to exchange pesetas for euros ended in June 2021. They have no monetary value now.
Where can I buy plastic coin rollers?
At stationery shops. You can also ask for them for free at your commercial bank branch.
Can I use Coinstar without buying groceries?
Yes. You can take the printed voucher directly to the cash desk to get cash.
What is the daily coin limit at Banco de España?
1,000 coins. If you bring more coins, you must make multiple appointments on different days.
Does the Bank of Spain charge a fee?
No. The coin exchange service is completely free of charge for all individuals.
Can I pay my tax bill in Spain with coins?
No. The tax agency requires electronic payments or bank transfers. They do not accept cash payments for tax bills.
What is the fee for coin deposits at commercial banks?
Usually free for small amounts. If you deposit under fifty coins, most banks will not charge any fees.
