Money

Money 

 The official currency used in Spain is the Euro. Spain is a member of the European Union (EU). In 2002 the euro was implemented as the common currency for most EU member countries. The euro is divided into 100 cents. Coin denominations are one, two, five, 10, 20 and 50 cents, €1 and €2. The notes are €5, €10, €20, €50, €100, €200 and €500.

Where to change money

Spain’s international airports have bank branches, ATMs and exchange offices.  Banks and building societies tend to offer the best exchange rates, and are plentiful: even small villages often have at least one. They mostly open from about 8.30am to 2pm Monday to Friday. Some also open Thursday evening (about 4pm to 7pm) or Saturday morning (9am to 1pm). Ask about commissions before changing.   

ATMs

Many credit and debit cards (Visa and MasterCard are the most widely accepted) can be used for withdrawing money from "cajeros automáticos" (automatic telling machines). The exchange rate used for credit and debit card transactions is usually more in your favour than that for cash exchanges. There is usually a charge (hovering around 1.5% to 2%) on ATM cash withdrawals abroad. This charge will appear on your statements. If you have any doubts about the usability of your ATM card, contact you bank prior to leaving.   

Moneychangers

As well as at banks, you can exchange both cash and travellers cheques at exchange offices – usually indicated by the word cambio (exchange). They abound in tourist resorts and other places that attract high numbers of foreigners. Generally they offer longer opening hours and quicker service than banks, but worse exchange rates. 

Travellers cheques

In these days of ATM's and credit cards, the old fashion, paper, Traveler Checks are not very usefully. If the paper Traveler Checks are in the currency of the country you are visiting, you might find they are accepted by individual stores, but even this is become rare. Travellers cheques usually bring only a slightly better exchange rate than cash, usually offset by the charges for buying them in the first place. The advantage, of course, is that they protect your money because they can be replaced if lost or stolen. If you lose your Amex cheques, call a 24-hour freephone number (900 994426). For Visa cheques call 900 948973; for MasterCard cheques call 900 948971.

Tipping

The law requires menu prices to include a service charge; tipping is a matter of choice. Most people leave some small change if they’re satisfied: 5% is normally fine and 10% generous. Porters will generally be happy with €1. Taxi drivers don’t have to be tipped, but a little rounding up won’t go amiss.