Money and currency

What is the currency in Spain?

The currency in Spain is the euro, as in other European Union countries.

The euro is divided into 100 cents.

• There are eight different coins: 1, 2, 5, 10, 20 and 50 cent, and 1 and 2 Euro.

• There are seven different bank notes, for the following amounts: 5, 10, 20, 50, 100, 200 and 500 Euro.

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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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Can you request reimbursement of your Value Added Tax (I.V.A.)?

If the purchaser's residence is outside the European Union, then you can claim back the tax on any purchases totalling over €90.15. In order to do so, you must ask for the Tax Free check in the shop or business.

There are various companies in Spain authorised to process the reimbursement of I.V.A. (Value Added Tax) for tourists. This is a very simple procedure. You only need to follow the steps below to obtain reimbursement:

1. Request the tax-free invoice and show accreditation of your residence (passport).

2. Show your purchases and have the tax-free invoices stamped at customs. (Receipts must be stamped within 3 months of purchase.)

3. Claim the amount due from the company processing the claim. They all have I.V.A. reimbursement points at the main Spanish airports and borders, for payment in cash. You can also have the I.V.A. repaid to your credit card, by bank transfer or international cheque.

There are currently three companies in Spain authorised to carry out this procedure:

TAX FREE SHOPPING GLOBAL REFUND
www.globalrefund.com

TAX FREE SPAIN REFUND
www.spainrefund.com

TAX FREE SHOPPING PREMIER
www.premiertaxfree.com

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