Money and currency

What is the currency in Spain?

The euro. In Spain, as in most other countries of the European Union, the official currency is the euro since January of 2002.
One euro has 100 cents.

There are eight different coins: 1, 2, 5, 10, 20, and 50 cents, € 1 and € 2.

There are seven different notes: € 5, € 10, € 20, € 50, € 100, € 200, and € 500.

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Where can I exchange foreign currency?

This service is available at all bank offices, open to the public Monday through Saturday, from 8.30 to 14.00 h (except in the months of June through September, when they remain closed on Saturday). It is also available at currency exchange shops at all major cities, as well as selected hotels and travel agencies.

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How much money do I need for my stay?

The average price for products and services varies depending on the province you are visiting, and the season. As a reference, we provide a list of approximate prices for services and products:

• A single metro (underground) or bus ticket costs around €1.
• A glass of beer costs between € 2 and € 6, the latter at a fashionable place.
• A ticket to the cinema costs between € 5 and € 9.
• A ticket to the theatre costs between € 12 and € 30.
• A ticket to the opera or a concert could cost between €50 and €100.
• A breakfast special, including a cup of coffee, a bun or pastry, and a glass of juice costs between € 2 and € 4, depending on where you go.
• A daily special at an inexpensive restaurant costs between € 7 and € 10. If you are choosing from the regular menu, the price starts at € 18, while at a medium-priced restaurant, it would start at € 36 per person. At a "three-fork" restaurant, the price per person can come to € 90.
• Accommodations by category (informative prices for a double room):
  • 5 stars: between € 200 and € 300
  • 4 stars: between € 100 and € 200
  • 3 stars: between € 60 and € 100
  • 2 stars or fewer: less than € 60.

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How else can I pay?

With credit cards:

Payment using recognised international credit cards is also commonly available in Spanish shops. They usually have signs indicating this option at the entrance to the establishment. When you make a payment you should show your passport or ID card.

With traveller's cheques:

Traveller's cheques, accompanied by a passport, are also accepted in many hotels, restaurants and shops.

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Is tipping mandatory?

No; in every single establishment in Spain, service is included with the price of the meal or drink. However, tipping is a common practice at bars and restaurants, hotels, and taxis, depending on the total price for the service, and on the generosity of the client. It is usually around five to ten percent of the total price.

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How can I get a sales-tax (IVA) refund?

If you country of residence is outside of the European Union, you may request a sales-tax refund for your purchases.
There are several companies in Spain that are authorised to process sales-tax (IVA) refunds. You need to request a form for your sales-tax refund at the shop.

Spanish law establishes the minimum purchase for you to be able to get a sales-tax refund at € 90.15. This amount needs to be spent at the same shop, and on the same day, for it to be eligible for a Tax Free cheque. The paperwork is simple; to obtain the refund, you must do the following:

1. Ask for a tax-free receipt of purchase, for which you need to show a valid proof of foreign residency (passport).
2. Show your purchases, and seal the tax-free goods in customs. (You have three months from the time of purchase to seal your goods).
3. Ask for the refund at the authorised refund-processing company. These companies have IVA refund offices at all major airports in Spain. You can get your refund in cash, or credit it back to your credit card.

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