A small but useful article. If you just need to know what currency of the Canary Islands, the answer is: Euro. The Canaries are part of Spain and the Eurozone. But if you’re planning a vacation here, keep reading to learn more useful information that will help you save time and maybe even money.

Currency of the Canary Islands: General Information

Here are the key points about money in the Canary Islands:

  • The Canaries are part of Spain, which means they’re in Europe, the European Union, the Schengen Area, and the Eurozone. But looking at a map, you might not guess that right away. Geographically, they’re part of Africa.
  • The national currency is the Euro, and nothing else.
  • The Canary Islands are a special economic zone of Spain. There are many tax benefits and incentives for businesses here. As a result, prices for goods on the islands, which are part of the main consumer basket, are among the lowest in Europe. For example, gasoline is 20% cheaper than on the Spanish mainland. You can find more details in the article on prices in the Canary Islands, which will be very useful for those planning a vacation here.
Currency of the Canary Islands
On the left: Platano Canario – classic Canarian bananas. On the right, alcoholic beverages made from bananas on the Canary Islands. Now you’ll understand why this photo is in an article about money on the Canary Islands.
  • The archipelago’s economy depends entirely on two sectors: tourism, which accounts for about 70% of GDP, and agriculture, which contributes another 15-20%. The two main agricultural crops grown everywhere are potatoes and bananas. Yes, quite an interesting mix. Tobacco is also grown, their own Canarian cigars are made, and grapes on the slopes of volcanoes produce excellent local wine.

More interesting facts about the archipelago can be found in a separate article via the link.

What money to bring to the Canary Islands and where to exchange currency

Now let’s move on to practical questions that you need to know and understand.

  • Bring only Euros with you. The year of issue and condition don’t matter; this isn’t Asia.

Important to know:

It’s better not to bring banknotes over 100 euros. There’s a high chance that 200 and 500 euro notes will have to be exchanged at a bank and might not even be accepted in a store. Sometimes, even for cash payments for accommodation or excursions, they don’t want to accept 100 euro notes. Ideally, travel with a stack of 50 euro bills, but there won’t be much trouble with hundreds either.

This is because 200 and 500 euro notes are more often counterfeited. Moreover, in the EU, since 2020, they’ve been gradually withdrawing 500 euro banknotes from circulation. You’ll definitely be asked to exchange a 500 euro note at the bank.

What money to bring to the Canary
If you don’t want unnecessary stress and waste of time searching for a bank to exchange your euros, don’t bring these denominations on your trip.

Useful to know:

There aren’t many exchange offices and banks that exchange currency from other countries. But they exist in tourist areas. Pay attention to jewelry stores; they can also exchange money, usually there’s a sign about it at the entrance.

What money to bring to the Canary Islands if you don’t have euros?

  • US Dollars
  • British Pounds
  • Swiss Francs
  • Canadian Dollars
  • These currencies will be exchanged everywhere here. With others, it’s more difficult. With Polish zloty, for example, to exchange them for euros, you’ll have to run around to different banks. They’ll exchange them at a central branch in the capital, but you’ll spend time and nerves. If you live in Poland, it’s better to buy euros there before your trip – it’s much easier.

Card and cash payments

It’s pretty straightforward here since it’s Europe, but here are the general points:

  • In general, you won’t run into any trouble with cash Euros here. You can pay for absolutely everything in cash in 99.9% of cases.
  • As expected in a civilized country, card payments are accepted almost everywhere.
Exchanging Money in the Canary
CaixaBank is one of the most popular banks in the archipelago. You can exchange money almost everywhere, withdraw from ATMs using your card, and so on.

Here’s a list of places where you need cash for payment: for rental apartments, taxis, at the market, sometimes in small souvenir shops they may not accept cards, and for excursions, especially if you’re buying at the beach rather than booking in advance online.

Important to know and keep in mind:

Occasionally, though rarely, you might encounter places that don’t accept cash payments. Usually, this applies to entrance tickets to attractions. For example, tickets to the Columbus House Museum in Las Palmas on the island of Gran Canaria can only be paid for by card. And this isn’t the only attraction like this. For those who don’t have a card the simplest way is to ask other tourists to pay for your ticket, and you can give them the money in cash.

Travel Tips

Let’s summarize and provide some general advice that will help you:

  • Bring cash to the Canary Islands, you won’t go wrong with it. But remember, if you’re carrying more than 10,000 euros in cash per person, you’ll need to declare it at the airport.
  • If you have bank cards, bring them along too, this is Europe, and you can pay almost everywhere with a card.
  • Don’t even think about bringing 200 and 500 euro bills with you if you have them. Try to exchange them at home. The best banknote that everyone welcomes is the 50 euro bill.
  • Have some small change on hand in the Canary Islands, I mean coins. They often come in handy, sometimes there’s no change, or there are questionable guys in the parking lot asking for a couple of coins to watch your car :). Sometimes the toilet unexpectedly requires payment. Change is needed constantly on the islands.

Useful to know:

It’s not risky to travel with cash to the islands. Yes, there are car thefts, there are pickpockets, but if you don’t flaunt a wad of euros on the street, you’re absolutely safe. And never leave anything valuable in a rental car. You can read about the dangers awaiting tourists in the Canaries via the link.

In conclusion: the currency topic in the Canaries is straightforward, everything is clear and transparent here. Overall, the situation is no different from the rest of Europe. But, hopefully, you’ve picked up some new and useful points and now know exactly what money to bring to the Canary Islands.

Useful links to help you plan your dream trip to Canary Islands:

  • Car Rental: LocalRent or DiscoverCars – the most popular car rental platforms.

  • Accommodation:
    • Trip.com – the largest accommodation booking platform.

    • or TripAdvisor – to compare prices among other platforms and choose the best one.

  • Budget-friendly vacation packages to Spain and Canary Islands: CheapOair.

  • Tours and activities: GetYourGuide or Viator – hundreds of offers, whales and dolphins, entrance tickets with discounts.

  • eSIM and internet: Airalo.

  • Flights: WayAway compares prices among dozens of companies.

  • Travel Insurance: EKTA.