New cash rules being rolled out in Spain that will ban thousands of notes

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Back in 2016 the Bank of Spain also phased out €500 notes, due to criminal activity.

Whilst the notes are technically still legal tender, many shops do not accept them.

However, they can still be exchanged at a bank for other notes.

The country is also considering phasing out its one and two cent, euro coins, following the likes of Belgium and the Netherlands.

Whilst it is not official yet, if the small coins were to be phased out then cash payments would most likely be rounded to the nearest five cents.

Last year, Spain also launched a new £97 ‘daily rule’ that impacts British tourists.

Plus, where to buy Euros at the best exchange rate.

GettyThe country is also looking at phasing out one and two cent Euro coins[/caption]