Canary Islands (IC)
The Canary Islands are Spain's Atlantic autonomous community: Tenerife, Gran Canaria, Lanzarote, Fuerteventura, La Palma, La Gomera, El Hierro and La Graciosa.
Currency & Money
Practical money tips for living in Canary Islands.
Denominations
Coins: 1c, 2c, 5c, 10c, 20c, 50c, EUR 1, EUR 2. Notes: EUR 5, EUR 10, EUR 20, EUR 50, EUR 100, EUR 200, EUR 500.
Payment Culture
Card and contactless payments are normal in Las Palmas, Santa Cruz, La Laguna, tourist resorts and supermarkets. Bizum is widely used between Spanish bank accounts. Carry EUR 20-40 cash for guaguas in smaller towns, markets, beach kiosks, rural restaurants, parking, and tradespeople. Canary Islands shops charge IGIC rather than mainland IVA, so receipts often show 7% tax instead of 21%.
ATM Tips
Use bank ATMs from CaixaBank, Santander, BBVA, Cajasiete, Cajamar, Sabadell or ING. Tourist-zone standalone ATMs can charge EUR 4-7 and push dynamic currency conversion. Always choose EUR. Smaller islands and rural areas can have limited ATM coverage, so withdraw before island hopping.
Exchange Tips
Avoid airport and resort exchange desks. Wise, Revolut, N26 and Spanish online accounts usually give better EUR conversion. For property purchases, use a regulated FX provider and coordinate with the notary because Spanish anti-money-laundering checks are strict.
Pro tip: Best apps for expats
- • Wise — Send money internationally at near-interbank rates
- • Revolut — Multi-currency account, free ATM withdrawals (limits apply)
- • N26 — German IBAN, free account, good for EU residents