Currencies in Tenerife!

For most purchases you will have to pay in Euros, the local currency here in Tenerife. This means if your money is in Sterling you will have to find the most cost effective way of converting into Euros.

No one likes giving money away on banks charges and nor do you want the worry of agreeing a price in Euros which was affordable at the time, but then being at the mercy of the exchange rates changing, which could mean you end up paying more for the purchase than you’d budgeted for.

Our recommendation to you is to use Currencies Direct. They deal directly with currency markets and can offer you rates that banks find hard to beat. If you are a client of ours, they offer free transfers (over £5,000) and do not charge commission. They will fix a rate for you and you can forward buy the Euros so you know exactly how much the purchase is going to cost you Sterling and there are no nasty surprises with the fluctuation in exchange rates!

They can also offer a “regular transfer overseas” scheme where, if for example, you have a mortgage in Tenerife, you can ensure the correct amount is transferred each month to cover the monthly mortgage payments.

Here at Golf del Sur Properties, we have personally used Currencies Direct and have been extremely pleased with the service we received. Once you have registered with them, you can use their services as many times as you wish!

We have the application forms in our office so can help you complete the details, if required, and we will then fax directly to our contact.