Currency in Lanzarote: Everything British Visitors Need to Know
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 currency exchanges at airport counters and ATMs.
What currency is used in Lanzarote?
Spain is a member state of the European Union (EU), and Lanzarote is part of Spain; therefore, the official currency is the euro (€). One advantage of a single currency in EU countries is the promotion of tourism, as travelers can move between eurozone countries without worrying about currency exchanges.
Do shops and restaurants in Lanzarote accept British pounds?
Shops and restaurants in Lanzarote do not accept British pounds. You must convert 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 poorly converted 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 on hand for small purchases.
Using your British debit or credit card
Both cards are useful. A debit card covers most everyday 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 rides, beach services, parking, and some taxis. When planning your travel budget, it’s best to keep most of it on your card and set aside a small amount in cash for small 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 throughout the island. Use ATMs from official banks and choose, if possible, an ATM that belongs to the same banking group as your card issuer, to avoid extra 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 for in your travel budget for Lanzarote depends on how long you’re staying and how many travelers there are. For a 3-day stay, we recommend €50 to €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, but not mandatory and is usually not included in the bill. It’s a bonus 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 due to high fees, it’s not the best option. You’ll find counters from local travel agencies as well as a series of independent ATMs.
Book your airport transfer in advance with your hotel to avoid high currency exchange fees on arrival, which could cut into your travel budget.
Frequently asked questions
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 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 fees on foreign cards?
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 all your 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 modernized and accept contactless payments, while others only accept cash.
Important points for managing your money in Lanzarote
To manage your money effectively in Lanzarote, you should first avoid excessive currency 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 banking group as your card issuer, and to have some cash on hand for small expenses.
Sources:
- 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/
