Planning a trip to Mallorca? Before you start thinking about sunscreen and restaurant bookings, there’s one thing worth sorting out early: where to exchange your money. Making the wrong choice can cost you far more than a fancy dinner. This guide tells you everything you need to know about currency exchange in Palma de Mallorca in 2026 — so you keep more of your money where it belongs, in your pocket.
Most travelers don’t think twice about currency exchange. They land at the airport, see a bureau de change, and hand over their cash. What they don’t see is how much they’re quietly losing in fees and unfavorable rates.
The difference between a bad exchange and a good one on a typical holiday budget of 1,000 USD can be anywhere from €50 to €100 — enough for a great dinner, a boat trip, or two rounds of drinks on the seafront. If you’re visiting Palma with family or as a group exchanging larger amounts, that gap widens significantly.
Knowing the best place to exchange currency in Palma before you travel is genuinely one of the smartest things you can do.
There are four main options for money exchange in Palma . Here’s an honest breakdown of each.
Airport exchange desks are convenient, but convenience comes at a steep cost. Fees typically range from 8% to 12% on top of an already unfavorable base rate. To put that in real numbers:
Exchanging 500 USD at the airport:
That’s a difference of €34–€37 on just 500 USD . On 1,000 USD, you’re looking at losing €70 or more simply by choosing the wrong desk.
If you arrive and genuinely need a small amount of cash to get into the city, take only what you need — then visit a specialist office once you’re settled.
Spanish banks can exchange currency, but they are rarely the best option for tourists. Rates are often uncompetitive, the process can be slow, and many branches require you to be an account holder or will charge a fixed commission fee regardless of the amount. For visitors looking for a quick, simple exchange, banks are rarely worth the effort.
Hotels sometimes offer currency exchange as a convenience service, but the rates are almost always the worst you’ll find outside an airport. Hotels are not in the business of competitive exchange — they offer the service as an add-on, and the margins reflect that. Avoid these entirely unless you’re in a genuine emergency.
A dedicated exchange house in Palma like Multi-Expert exists for one purpose: to give you the best possible rate with total transparency. No hidden fees, no confusing small print, no commission on top of commission. Just a clear, competitive rate and fast service.
This is what sets specialist offices apart — and it’s why locals, residents, and repeat visitors to Mallorca consistently choose them over every other option.
Multi-Expert has been serving tourists, residents, and businesses in Palma de Mallorca since 2008. Here’s what makes it the go-to choice for foreign money exchange in Palma .
The price you see is the price you pay. There are no added commissions, no service charges, and no surprises at the end of your transaction. What Multi-Expert shows you upfront is exactly what you walk away with — something you simply cannot count on at an airport desk or hotel reception.
This transparency is the foundation of their reputation and the reason they’ve been trusted in Palma for nearly two decades.
Multi-Expert operates a tiered fee structure that rewards customers exchanging larger amounts. Fees start from as low as 0.50% for amounts over €2,000 equivalent. This makes Multi-Expert an especially smart choice for families, couples traveling together, or anyone planning an extended stay in Mallorca.
Even at the standard rate of 1.52%, you are still receiving significantly more euros than at any airport bureau or hotel desk — as the comparison above clearly shows.
Whether you’re arriving from the United States, the United Kingdom, Switzerland, Canada, Australia, Japan, or anywhere else in the world, Multi-Expert holds your currency. With over 80 currencies available , it is the most comprehensive exchange house in Palma — and one of the most complete exchange offices in the Balearic Islands.
They also offer international money transfer services through Western Union, Ria, MoneyGram, and TransFast — useful if you need to send money home or receive funds during your stay.
Multi-Expert operates two offices in Palma, both centrally located and easy to reach whether you’re in the city centre, the old town, or the tourist areas near the seafront.
No appointment is necessary. Simply walk in with a valid ID (passport or NIE) and your currency, and the team will take care of the rest.
Full location details, opening hours, and contact information are available at multiexpert.es .
Before you visit any currency exchange in Palma de Mallorca , here are a few practical tips to help you get the most from your money:
