# Money Questions - Paying For Rent Euro vs USD



## RobG1989 (Aug 7, 2021)

Hi All,
This is my first post. I'm planning to move to Spain in October 2021 for 6 months (possibly longer). As I'm looking for places to rent, I'm wondering how I will pay for rent... whether it's in Euros or USDs so I've got a few questions that maybe someone can help me answer.

*Important Note:* I'm a dual citizen US/Spain. Born in Spain, raised in the US. I've never done more than visit Spain for a couple weeks since being born there.

*Questions:*
1. Are there rentals that accept USD?
2. If not, does that mean I need open up a spanish bank account and start transferring money over to it? 
3. I would imagine there's a fee associated with that currency conversion, right? Is it the same for most banks?
4. Any recommendations on a bank?
5. I'm also open to any other tips, resources, and/or recommendations you think might be helpful  

Thank you!
Rob


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## stevec2x (Mar 24, 2012)

Hi

I doubt that you'll be able to pay rent using USD.

For currency conversion, take a look at wise.com. There are no charges for simply having an account, so you could even try it today to see how it works. Fees for conversion are very low, and exchange rate is second to none.

Cheers
Steve


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## Barriej (Jul 23, 2012)

stevec2x said:


> Hi
> 
> I doubt that you'll be able to pay rent using USD.
> 
> ...


I would second this. Wise is good.

I transferred money the other day and paid £2.99 on £800 and got €1.1730 exchange rate.
XE was at €1.16 and my UK bank at €1.13

Wise do a Debit card that can hold multiple currencies so you load with US$ and it will convert to €. If you then make a trip to the UK lets say, it will allow that as well (all done in the local currency)


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## Roland_O (Oct 17, 2016)

RobG1989 said:


> Hi All,
> This is my first post. I'm planning to move to Spain in October 2021 for 6 months (possibly longer). As I'm looking for places to rent, I'm wondering how I will pay for rent... whether it's in Euros or USDs so I've got a few questions that maybe someone can help me answer.
> 
> *Important Note:* I'm a dual citizen US/Spain. Born in Spain, raised in the US. I've never done more than visit Spain for a couple weeks since being born there.
> ...


Re1: No
Re2: Yes
Re3: sometimes there is a fees, often they make their money by quoting a poor conversion rate.
Re4: La Caixa have a good English language website. Santander seems OK as well. People have quotes Wise and a good currency converter and I agree. They are cheaper than the banks. Even if you use them you will still need a Spanish bank to pay your bills. Some people use Revolut.

… and you are going to need an ID number from the tax people. Everyone will ask you for this whenever you do anything. I guess is you are a citizen then you already have a local ID number.

… and if you stay longer than 6 months you will become tax resident in Spain, so you will be filling in two sets of forms (the US will still want theirs).

… and don’t forget to arrange healthcare


Sent from my iPad using Tapatalk


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