Currency in Lanzarote: Everything UK Visitors Need to Know
If you’re planning a trip from the UK to Lanzarote, it’s worth knowing that the island’s currency is the euro (€). To manage your money efficiently, it’s best to combine electronic payments, such as debit and credit cards, with cash.
Always choose to pay in the local currency in Lanzarote, and avoid exchanging money at airport counters and cash machines.
What currency does Lanzarote use?
Spain is a member of the European Union (EU), and Lanzarote is part of Spain; its official currency is therefore the euro (€). One of the advantages of having a single currency across EU member states is the boost it gives to tourism, as travellers can move between eurozone countries without worrying about currency exchange.
Do shops and restaurants in Lanzarote accept British pounds?
Shops and restaurants in Lanzarote don’t accept pounds sterling. You’ll need to exchange cash beforehand 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 commissions, 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 such as cards, as this reduces the risk of loss. That said, you should always carry some cash for smaller purchases.
Using your UK debit or credit card
Both cards are useful to have. A debit card covers most everyday spending and helps you avoid credit card debt, fees and interest, but you’ll need a credit card for essentials such as hiring a car or checking into a hotel.
When cash is still the better option
Cash is your best option in Lanzarote 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 card and set aside a small amount of cash for minor expenses.
Cash Machines in Lanzarote: Where to Withdraw and How to Avoid Fees
You can withdraw cash in Lanzarote from the network of cash machines found across the island. Use cash machines belonging to official banks and, where possible, choose one from the same group as your card issuer to avoid extra fees.
When withdrawing cash, always select the local currency option, as the commission will be lower. Avoid independent cash machines, as their withdrawal fees tend to be very high.
How much cash should I bring to Lanzarote?
How much cash to include in your travel budget for Lanzarote depends on the length of your stay and the number of people travelling with you. For a 3-day stay, we recommend €50–€100 per person, and for a 7-day stay, between €100 and €200 per person.
Tipping in Lanzarote: is it expected?
Tipping in Lanzarote is common practice, but it isn’t compulsory and generally isn’t included in the bill. It’s an extra given to the person who provided the service, as long as you’re happy with it, and it’s best given directly in cash.
Exchanging currency at Lanzarote Airport (ACE)
Currency exchange is available at Lanzarote Airport, but it isn’t the best option due to the high rates charged. You’ll find counters run by local tour operators as well as a number of independent cash machines.
Book your airport transfer in advance, along with your hotel, so you avoid costly currency exchanges on arrival that could eat into your travel budget.
FAQs
Is Lanzarote in Spain?
Yes, Lanzarote is part of the Canary Islands, which are part of Spain.
Can I use contactless payments in Lanzarote?
Yes, the island has a modernised payment system, so contactless payments are accepted at most establishments using mobile phones or smartwatches, as well as debit and credit cards.
What’s the best way to avoid card fees abroad?
There are a few ways to avoid card fees: use a fintech travel card, always select the local currency option when paying, and when withdrawing cash, make the most of any fee-free withdrawal limits.
Do I need cash for taxis and transfers?
Transfer services in Lanzarote are usually paid for online before you arrive on the island, but if you choose to pay on arrival, you can do so by credit card, debit card, PayPal and other methods. As for taxis, some operators are fully modernised and accept contactless payments, while others only take cash.
Key takeaways for managing money in Lanzarote
To manage your money efficiently in Lanzarote, the first thing to avoid is excessive commissions when exchanging currency. It’s best to rely on electronic payment methods, such as debit and credit cards, Apple Pay, Google Pay or any other option that converts currency directly, and always choose the local currency option.
It’s also worth using cash machines from official banks, ideally from the same group as your card issuer, and carrying some cash for smaller 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/
