Money Money Money
Holiday spending money advice
There are often a lot of questions about money and whether to bring euros in cash (or efectivo in Spanish) or use a bank card (tarjeta) for payments.
The simple answer is to use both. Cash is best for tips, and some establishments don’t take card payments, although this is becoming less common. All establishments welcome tips (propina) and the rule of thumb is to add an additional 10% of the total bill and leave it in cash. Obviously, this depends on the service you have received and is at your discretion. Some establishments welcome tips added to card payments, but not all. Below are some tips to help you with managing your holiday spending budget efficiently.
Buses only accept payment in euros in cash unless you have a prepayment card. If using a note, the driver may not accept anything above a €10 bill. For holiday spending money advice, taxis take cash and card payments and will welcome a tip.
Where’s best to get your Euros?
You’ll probably get a slightly better exchange rate in your home country. However, unless you are changing 1000s, the difference is quite negligible. It is probably just the cost of a cocktail.
If you are withdrawing cash from a Spanish ATM, there will be a service charge. Some are very high, at €7 or more. Sabadell Bank’s ATMs did seem to have the lowest charge at €1.80 but this has recently increased to €6.95. The exchange rate you will get also depends on if you choose pounds (or Dollars) or Euros. It will be exchanged either by the bank you are using or your own bank account if in your own currency. The latter is often better, but look at the figures before you proceed. You can always cancel the transaction. The independent ATMs, often bright yellow, offer the worst rates. They should be avoided if possible.
Currency exchange cards such as Revolut or Wise offer the best rates and are accepted wherever bank cards are. These are your best value to use, but remember cash is king for establishments as there are no bank charges for them. You can even use the virtual cards on your phone to make payments and apply this holiday spending money advice effectively.
Most musicians rely on tips so please be generous if you enjoy their shows. When it comes to holiday spending, keep this advice in mind.
This info is just our opinion, others may differ in their views.
