Where to exchange money in Funchal
Before you set out exploring in Funchal, it's wise to be as prepared as possible for your trip. One important thing is knowing the local currency if it differs from your own and where you can exchange it.
In this article you will discover some of the best currency exchanges in Funchal that you can visit.
We will also introduce Wise - A digital alternative which could save you time and money.
Where to exchange money in Funchal
Before you set out exploring in Funchal, it's wise to be as prepared as possible for your trip. One important thing is knowing the local currency if it differs from your own and where you can exchange it.
In this article you will discover some of the best currency exchanges in Funchal that you can visit.
We will also introduce Wise - A digital alternative which could save you time and money.
Spend abroad without hidden fees
Currency exchanges in Funchal
If you have a need to use cash, here are some recommendations to exchange foreign currency in Funchal.
Just remember, there's no such thing as completely free or 0% commission when exchanging money. Always check the mid-market exchange rate beforehand so you know the real value of your money.
| Money Changer | Address | Contact Information |
|---|---|---|
| Unicâmbio Funchal - Compramos Ouro! Agente Western Union - Câmbios | R. da Sé 12, São Martinho, 9000-050 Funchal, Portugal | +351 308 809 039 |
| Unicâmbio Funchal - Agente Western Union - Câmbios | R. de São Francisco 6, São Martinho, 9000-050 Funchal, Portugal | +351 308 809 039 |
| MoneyGram | Do, Rua Dr. Brito Câmara 22, São Martinho, 9000-039 Funchal, Portugal | +351 291 200 270 |
| RealTransfer | Rua Dr. Brito Câmara 9 Lj Q207, São Martinho, 9000-039 Funchal, Portugal | +351 291 238 061 |
| MoneyGram | R. da Sé 16 18, São Martinho, 9000-066 Funchal, Portugal | +351 291 220 513 |
| MoneyGram | Caminho de S. Martinho 14, São Martinho, 9000-273 Funchal, Portugal | +351 291 101 401 |
| Western Union | R. de São Francisco 6, São Martinho, 9000-050 Funchal, Portugal | +351 308 809 039 |
| Western Union | R. do Arcipreste 9 A, 9050-999 Funchal, Portugal | +351 800 206 868 |
| MoneyGram | R. Dr. França Jardim 2, 9020-401 Funchal, Portugal | +351 938 920 014 |
| MoneyGram | Rua 5 de Outubro 91B, 9000-079 Funchal, Portugal | +351 291 231 620 |
Notice anything wrong with our results table? Let us know - If there is a genuine mistake, we will do our best to resolve it.
Euro rate today
When you're in Funchal, and also the rest of Portugal, the official currency is the Euro.
Yet, when you step into a currency exchange shop, you'll notice they use currency codes. The code associated with the Euro is EUR, so be sure to take note of it when comparing exchange rates.
What you should know about exchanging money in Funchal
When exchanging money in Funchal or any foreign city, it's important to be aware how to get the best deals and avoid excessive charges and hidden fees. If you are planning on staying in Portugal long-term or looking to make a larger investment you could consider opening a local bank account. Otherwise, use the tips below to help avoid getting overcharged.
1. Pick local currency on ATMs and card payments
When using an ATM abroad, choose to be charged in Euros for a fairer rate and fees. The same applies if you get the option on card machines.
2. Know the exchange rate
Check what the current exchange rate is so it's easier to spot a bad deal from currency exchanges.
3. Avoid exchanging money at airports or hotels
It may be highly convenient, but airports and hotels will almost always offer poor rates and high transaction fees. Avoid this where possible.
4. Use ATMs strategically
Check if your local bank has partnerships in Portugal banks to avoid unwanted ATM fees. Also try to plan ahead and make as few withdrawals as possible to avoid multiple extra fees.
5. Be wary of 'zero fee' services
Some services claiming 'no commission' often offer poor exchange rates. These may not reflect the mid-market rate, similar to what you'd see when checking the rate on Google. This can lead to higher costs for you and more profits for them.
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Other currency exchanges
Bottom line
As you can see, there are plenty of options for exchanging money in Funchal. Remember to do your research on the exchange rate and get the most out of your trip. For a fuss-free alternative to exchanging cash, check out Wise.
Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.