If you’re planning a trip from Great Britain to Lanzarote, it’s important to know that the island’s currency is the euro (€). To manage your money effectively, it’s best to combine electronic payments like debit and credit cards with cash.
Always pay in local currency in Lanzarote and avoid exchanges at airport counters and ATMs.
What currency is used in Lanzarote?
Spain is a member of the European Union (EU), and Lanzarote is part of Spain; therefore, the official currency is the euro (€). An advantage of a single currency across EU member states is that it promotes tourism, as travellers can move between eurozone countries without worrying about exchange rates.
Do shops and restaurants in Lanzarote accept British pounds sterling?
Shops and restaurants in Lanzarote do not accept British pounds sterling. You need to exchange your money in advance or use a debit or credit card from a provider that converts currency directly.
Paying in euros in Lanzarote also means you avoid exchange fees, inflated rates or miscalculated conversion amounts.
Should I pay by card or cash in Lanzarote?
Both payment methods are accepted on the island, but it’s best to rely mainly on electronic payments like cards, as this reduces the risk of loss. Nevertheless, you should always have some cash for small purchases.
Use your British debit or credit card
Both cards are useful. A debit card covers most daily expenses and helps you avoid credit card debt, fees and interest, but you need a credit card for important things like car rental or hotel check-in.
When cash is the best option
Cash is the best option in Lanzarote for tips, purchases at local markets, bus fares, beach services, parking and some taxis. When planning your travel budget, it’s best to keep the majority on your card and set aside a small amount in cash for small expenses.
ATMs in Lanzarote: where to withdraw cash and how to avoid fees
You can withdraw cash in Lanzarote via the network of ATMs distributed across the island. Use ATMs from official banks and choose, if possible, an ATM that belongs to the same group as your card issuer to avoid extra fees.
When withdrawing cash, always choose the local currency option, as fees are lower. Avoid independent ATMs, as their withdrawal fees tend to be very high.
How much cash should I bring to Lanzarote?
The amount of cash you should set aside in your travel budget for Lanzarote depends on the length of your stay and the number of people travelling with you. For a three-day stay, we recommend €50 to €100 per person, and for a seven-day stay between €100 and €200 per person.
Tipping in Lanzarote: is it expected?
Tipping in Lanzarote is common, but not mandatory and is generally not included in the bill. It’s a tip for the person who provided the service if you’re satisfied with it, and it’s best to give it directly in cash.
Currency exchange at Lanzarote Airport (ACE)
Currency exchange is available at Lanzarote Airport, but it’s not the best option due to high fees. You’ll find counters run by local tourist operators as well as a range of independent ATMs.
Book your airport transfer in advance with your hotel to avoid high exchange fees upon arrival, which could eat into your travel budget.
Frequently asked questions
Is Lanzarote in Spain?
Yes, Lanzarote is part of the Canary Islands, which belong to Spain.
Can I use contactless payments in Lanzarote?
Yes, the island has a modern payment system, so contactless payments are accepted at most establishments via mobile phones or smart watches as well as debit and credit cards.
What’s the best way to avoid foreign card fees?
There are several ways to avoid card fees: use a fintech travel card, always choose the local currency option when paying, and take advantage of any free withdrawals when withdrawing cash.
Do I need cash for taxis and transfers?
Transfer services in Lanzarote are normally paid online before your arrival on the island, but if you decide to pay on arrival, you can do so by credit card, debit card, PayPal and other methods. For taxis, some operators are fully modernised and accept contactless payments, while others only accept cash.
Key points for managing your money in Lanzarote
To manage your money effectively in Lanzarote, you should first avoid excessive exchange fees. It’s best to rely on electronic payment methods like debit and credit cards, Apple Pay, Google Pay or another option that converts currency directly, and always choose the local currency option.
It’s also advisable to use ATMs from official banks, preferably from the same group as your card issuer, and to have some cash for small expenses.
References:
- https://www.spain.info/es/consejos-viaje/moneda-billetes
- https://www.bde.es/wbe/es/areas-actuacion/billetes-monedas
- https://www.lanzaroteguide.com/exchanging-currency-in-lanzarote/
Abdel Samouh is a tourism professional specialising in the Canary Islands, with a solid track record in visitor experience management on Lanzarote. His career has centred on promoting the island's landmark attractions and enhancing transfer and excursion services across this volcanic destination.
