If you have been reading travel forums or British media lately, you have probably come across alarming headlines about needing to carry almost £100 per day in cash just to set foot in Spain. The stories tend to paint a dramatic picture: border officers demanding bank statements, travellers turned away at Alicante Airport, and holiday savings wiped out before you have even reached your hotel.
The reality is considerably more nuanced. As international lawyers based on the Costa Blanca who work with British clients every day, we want to give you a clear, accurate breakdown of what the law actually says, what border officers can ask for, and how you can prepare yourself to avoid any issues at all.
The Short Answer: Yes, the Rule Is Real — But It Is Not New
Since the United Kingdom left the European Union, British nationals are classified as “third-country nationals” under the Schengen Borders Code. This means that when you enter Spain, you are subject to the same entry conditions as travellers from the United States, Canada, or Australia. One of those conditions is proving that you have sufficient financial means to support yourself during your stay.
This requirement has existed for years under EU Regulation 2016/399. It is not a Spain-specific invention, and it is certainly not something dreamed up to target British tourists. Every Schengen country applies a similar rule, though the exact figures differ from one member state to another.
What Are the Actual Figures in 2025/2026?
Spain calculates its minimum financial requirement based on a percentage of the national minimum wage. The official figures, published by Spain’s Ministry of Foreign Affairs, are:
| €118
Per person, per day (approximately £103 at current rates) |
€1,065
Minimum total for stays of 9 days or more (~£927) |
So where does the “£97 per day” figure come from? It was an approximate conversion that made its way into British media when the exchange rate was slightly more favourable. At current exchange rates (around €1 = £0.87), €118 actually works out closer to £103 per day. The precise pound equivalent will fluctuate with the exchange rate, but the official requirement is always denominated in euros.
| Important distinction: The rule does not mean you need to carry €118 in cash in your pocket for every day of your holiday. It means you must be able to demonstrate access to that level of funds if asked by a border officer. There is a significant difference between the two. |
Who Does This Apply To?
This requirement applies to all nationals from countries outside the EU and the Schengen area who are entering Spain for short stays of up to 90 days. Since Brexit, that includes every British passport holder, whether you are flying to Alicante for a week’s holiday or visiting your property in Jávea for the winter.
There are some important exceptions. If you hold a valid Spanish residency permit (TIE card) or a long-stay visa, you are not subject to these short-stay entry conditions. Similarly, EU and EEA nationals can enter Spain with just their national identity card or passport, with no financial proof required.
What Counts as Valid Proof of Funds?
Spanish authorities accept several forms of evidence. However, not everything you might expect to work will actually satisfy border officials. Here is what the official rules state:
| Type of Proof | Status | Notes |
| Cash (euros or equivalent) | ✓ Accepted | Declare amounts of €10,000 or more |
| Traveller’s cheques | ✓ Accepted | Increasingly uncommon but still valid |
| Credit card + official bank statement | ✓ Accepted | Statement must show available balance |
| Up-to-date bank book | ✓ Accepted | Showing recent balance and your name |
| Credit statement showing limit | ✓ Accepted | Official document from your bank |
| A letter from your bank | ✗ Not accepted | Explicitly excluded by Spanish regulations |
| Online banking screenshots | ✗ Not accepted | Officially not valid — printed statements preferred |
The two items at the bottom of that table surprise many travellers. A generic letter from your bank confirming you are a customer with “sufficient funds” is not enough. And while some border officers may accept an online banking screen on your phone in practice, the official position is that online statements are not valid proof. If you want certainty, carry a printed, dated bank statement from the last 30 days.
How Likely Are You to Be Asked?
Here is the part that puts most travellers at ease: the vast majority of people entering Spain are never asked to prove their finances. Border officers are not required to check every single passenger, and in practice, they exercise discretion. Checks tend to be random or triggered when something about the traveller’s profile raises a question — for example, arriving with no return ticket, no hotel reservation, or no clear purpose of stay.
Seasoned travellers who arrive with a return flight, a confirmed accommodation booking, and travel insurance are very unlikely to face any financial scrutiny. That said, “unlikely” is not the same as “impossible,” and the consequences of failing a check are serious: you could be refused entry altogether, or your permitted stay could be shortened in proportion to the funds you are able to demonstrate.
Our Practical Recommendations
At Coast Law Firm, we advise all our British clients travelling to Spain to take a few simple precautions that cost nothing but could save you a great deal of stress at the border.
1. Carry a printed bank statement
Print a recent statement (no older than 30 days) from your main current account before you travel. It should clearly show your name, account number, and balance. This is the single most effective thing you can do.
2. Bring a credit card with a visible statement of your credit limit
A credit card on its own is not sufficient. However, a credit card accompanied by an official statement showing your available credit is explicitly listed as valid proof. Download and print this from your online banking before your trip.
3. Keep your travel documents organised
Have your return flight confirmation, accommodation booking, and travel insurance details easily accessible. These are not strictly part of the financial requirement, but they support the overall picture that you are a genuine tourist with the means and intention to return home.
4. Check your passport validity
While not related to the funds question, remember that your passport must have been issued within the last 10 years and must be valid for at least three months beyond your planned departure from the Schengen area. An expired or soon-to-expire passport is a far more common reason for being turned away than insufficient funds.
5. Consider upcoming changes: EES and ETIAS
The EU’s new Entry/Exit System (EES) is expected to begin its rollout from October 2025, introducing biometric registration (fingerprints and facial recognition) for non-EU travellers. Following that, the ETIAS pre-travel authorisation system is anticipated for late 2026. Neither of these replaces the proof of funds requirement, but they represent additional steps that British travellers will need to be aware of going forward.
| Quick checklist before you fly:
✓ Passport valid and within the 10-year rule ✓ Printed bank statement (last 30 days) ✓ Credit card plus printed credit limit statement ✓ Return flight confirmation ✓ Hotel or accommodation booking ✓ Travel insurance documents |
What If You Own Property on the Costa Blanca?
This is a question we hear frequently from British property owners in the region. Owning a home in Spain does not automatically exempt you from the proof of funds requirement if you are entering as a tourist. However, it is worth noting that Spanish authorities can take property ownership into account as evidence of financial solvency. If you own a home in Altea, Dénia, or anywhere on the Costa Blanca and can demonstrate this with a nota simple from the Land Registry, it strengthens your overall position considerably.
Of course, if you are spending significant time in Spain, the better long-term solution is to obtain formal residency. A TIE card removes the need to worry about short-stay entry conditions altogether and provides access to the Spanish healthcare system, the right to open a local bank account, and far greater legal certainty about your status in the country.
| Thinking About Residency on the Costa Blanca?
Whether you need a NIE number, advice on the non-lucrative visa, or help with any legal matter related to living in Spain, our multilingual team is here to help. |
The Bottom Line
The “£97 per day rule” is not a myth, though that specific figure is outdated. The real requirement is €118 per person per day (approximately £103 at today’s rates), with a minimum total of €1,065 for longer stays. It applies to all non-EU nationals, including British citizens since Brexit, and it is part of a broader set of Schengen entry conditions that exist across all 29 member states.
The good news is that with minimal preparation — a printed bank statement, a credit card with a documented limit, and your travel documents in order — you will have nothing to worry about. Most travellers are never asked, but those who are prepared never have a problem.
If you have questions about your legal status in Spain, property matters, residency applications, or any other legal concern on the Costa Blanca, contact Coast Law Firm. We have offices across the region, from Gandia to Alicante, and we are always happy to help.
Disclaimer: This article is provided for general informational purposes only and does not constitute legal advice. Entry requirements and exchange rates are subject to change. For advice on your specific circumstances, please consult a qualified legal professional. Information accurate as of February 2026. Source: Spain’s Ministry of Foreign Affairs.