If you’re planning a trip from the UK to Lanzarote, it’s important to know that the island’s currency is the Euro (€). To manage your money efficiently, it’s best to combine electronic payments like debit and credit cards with cash.
Always pay in local currency in Lanzarote and avoid exchanging at airport counters and ATMs.
What currency is used in Lanzarote?
Spain is a member of the European Union (EU), and Lanzarote belongs to Spain; therefore, the official currency is the Euro (€). An advantage of a unified 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’ll need to exchange your money in advance or use a debit or credit card from a provider that converts the 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 better to rely mainly on electronic payments like cards, as this reduces the risk of loss. That said, you should always have some cash on hand 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’ll need a credit card for important things like renting a car or checking into a hotel.
When cash is the best option
Cash is Lanzarote’s best option for tips, purchases at local markets, bus fares, beach services, car parks, 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 minor expenses.
ATMs in Lanzarote: where to withdraw money and how to avoid fees
You can withdraw cash in Lanzarote through the network of ATMs distributed across the island. Use ATMs from official banks and, where possible, choose an ATM that belongs to the same group as your card provider to avoid additional fees.
When withdrawing money, 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 plan 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 customary but not mandatory and usually not included on the bill. It’s a gratuity for the person who provided the service if you’re satisfied, and it’s best to give it directly in cash.
Currency exchange at Lanzarote Airport (ACE)
Currency exchange is available at Lanzarote Airport, but due to high fees, it’s not the best option. You’ll find counters from local tourism providers as well as a number of independent ATMs.
Book your airport transfer in advance with your hotel to avoid high exchange fees on arrival that could eat into your travel budget.
Frequently asked questions
Is Lanzarote in Spain?
Yes, Lanzarote is one 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 smartwatches as well as debit and credit cards.
What’s the best way to avoid overseas card charges?
There are several ways to avoid card charges: use a fintech travel card, always choose the local currency option when making payments, and make use of any free withdrawals when taking out money.
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. With taxis, some operators are fully modernised and accept contactless payments, whilst others only accept cash.
Key points for managing your money in Lanzarote
To manage your money efficiently in Lanzarote, you should first avoid excessive exchange fees. It’s best to rely on electronic payment methods such as debit and credit cards, Apple Pay, Google Pay, or another option that converts the 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 provider, and to have some cash on hand 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.
