Spain is one of Europe's more affordable countries. If you are particularly frugal it's just about possible to scrape by for around EUR20 a day. This would involve staying in the cheapest possible accommodation, avoiding eating in restaurants or going to museums or bars, and not moving around too much. A more comfortable budget would be EUR40 a day, allowing for a basic hotel room, set meals, public transport and entry to museums. With EUR100 a day you can stay in excellent accommodation, rent a car and eat some of the best food Spain has to offer.
Currency and Bank
Spain uses the Euro, introduced throughout Europe in 2002. Coins are available in 1, 2, 5, 10 and 50 cents and 1 and 2 Euros. Notes come in denominations of 5, 10, 20, 50, 100 and 500 euros. More information including pictures of coins and notes and exchange rates is available at: http://www.euro.ecb.int/
Exchange
We recommend using banks and other official exchange houses, to avoid possible frauds. Almost all the banks have dedicate booths for exchange. The main train and bus stations usually have exchange offices with are open extended hours.
There should be no problem finding a place to change money in Madrid, in almost all banks, 'cajas' or in the many exchange houses in the tourist areas. While the latter have the advantage of longer opening hours (some are open 24 hours a day), where posssible we would recommend using banks, cajas or the American Express office which generally offer better exchange rates than the exchange houses.
A list of addresses for the main national and foreign banks, the 'cajas' and the exchange houses can be found on our bank address (bellow).
Credit cards
Credit cards are widely accepted in Madrid, except in tapas bars, cheap restaurants and low-budget hotels. VISA is the most widely accepted card, but AMEX and Master Card (Access) are also quite widely recognised. Where appropriate we have provided a list of accepted credit cards.
In the event that your credit card is lost or stolen you may consult the “Emergency Numbers” page.
Typical costs
Below we give a list of some typical prices for goods and services. Obviously these are only intended as a very rough guide, and prices can vary tremendously from those presented.
A basic three-course lunch, including wine and coffee: 9 euro ($8)
Cheap accommodation (with no bath in room): 12 euro ($10)
A small glass (250 ml) of beer in a bar: 1 euro ($0.90)
A single subway or bus ride: 0.95 euro ($0.90)
Average price for a lift in a taxi within the center: 5 euro ($4)
Ticket to the movies: 9 euro ($8)
Stamp for a letter within the European Union: 0.51 euro ($0.50)
Banks
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Argentaria
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Banco Bilbao Vizcaya (BBV)
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Banco Santander Central Hipano
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Banesto
Foreign banks
- Barclays Bank
- Banque Nationale de Paris (BNP)
- Citibank
- Credit Lyonnais
- Deutsche Bank
- Lloyds Bank
Trusts
Exchange houses
- American Express office
- Chequepoint
- Western Union Money Transfer
