Travel Money Guide: Spain

Spend with convenience and avoid unnecessary fees on your holiday to Spain.

Hola, amigos! Are you planning a trip to the land of bullfights and rich history? Organise your travel money options ahead of time and you can spend more time soaking in the rich culture rather than worrying how you're going to pay your way. One of the things that makes Spain so travel friendly is the use of euros as the national currency. But when you go abroad, the way you take and spend your travel money can make a difference to your hip-pocket. Foreign ATM fees, currency conversion fees and foreign transaction fees can eat at your travel budget. The good news is that if you take the time to get your finances in order before you go, you can easily avoid all the extra charges, and have more to spend on sangria instead.

Compare travel cards for Spain

Updated December 16th, 2018
Name Product Available Currencies ATM Withdrawal Fee Reload Fee Initial Load Fee
AUD 3.50, USD 2.50, GBP 2.00, EUR 2.20, NZD 4.50, CAD 3.00, HKD 20.00, SGD 4.00, THB 95, JPY 260
Hold up to 10 currencies and lock in your exchange rate. No load, reload or transaction fees on purchases and part of a worldwide ATM alliance.
USD 2.50, EUR 2.50, GBP 2.00, NZD 3.50, THB 80.00, CAD 3.50, HKD 18.00, JPY 260.00, SGD 3.50, AUD 3.50, AED 10.00
Get discounted rates on USD in Cash Passport's rates sale. Plus free global Wi-Fi and more. Offer ends on 13 December 2018.
AUD 1.95, CAD 2.00, EUR 1.50, GBP 1.25, HKD 15.00, JPY 160, NZD 2.50, SGD 2.50, USD 1.95, THB 70.00, AED 6.50
Get the chance to win a share of 1 million Qantas Points for every $100 in foreign currency you load onto your Qantas Travel Money card plus earn up to 5000 bonus points.

Compare up to 4 providers

Rates last updated December 16th, 2018
Name Product Foreign Currency Conversion Fee Overseas ATM Withdrawal Fee Overseas Cash Advance Fee Annual fee Product Description
Skye Mastercard
0% of transaction value
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Get 90 days interest-free, $0 foreign transaction fees and a $0 annual fee for the first year.
28 Degrees Platinum Mastercard
0% of transaction value
3% of the cash advance or $4 (whichever is greater)
$0 p.a.
No foreign transaction fees on international purchases including international purchases online, together with a no annual fee.
ANZ Rewards Travel Adventures card
0% of transaction value
$225 p.a.
Receive 40,000 bonus Velocity Points, 2 yearly Virgin Australia lounge passes, plus enjoy $0 overseas purchase transaction fees.

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Rates last updated December 16th, 2018
Name Product Product Description Debit Card Access ATM Withdrawal Fee Monthly Account Fee Overseas ATM Withdrawal Fee Overseas Eftpos Fee
ING Orange Everyday Account
Receive a rebate on any international transaction fees and international ATM fees when you deposit at least $1,000 a month and make at least 5 card purchases.
NAB Classic Banking with Platinum Visa Debit Card
$10 cashback on contactless purchases, $0 foreign transaction fee and complimentary travel insurance.
$10 monthly account fee.
Receive $10 cashback when you spend $1000 on contactless purchases. Complimentary travel insurance, transport accident insurance, purchase protection insurance and more when you meet eligibility criteria.
HSBC Everyday Global Account
No foreign ATM or transaction fees.
$0 monthly account fee.
Enjoy no minimum ongoing balance or transaction requirements and the flexibility to hold up to 10 currencies. Apple Pay and Google Pay available.
Citi Global Currency Account
Hold up to 10 currencies.
$0 monthly account fee.
Enjoy one linked debit card to hold up to 10 currencies and receive foreign currencies for free. Earn up to 2.25% p.a. interest on your AUD balance.

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Updated December 16th, 2018
Name Product Minimum Order Amount Maximum Order Amount Delivery/Pickup Method Commission Fee
In Store, At Airport
Order over 60 currencies online at the best price against the Australian dollar and collect at one of over 130 locations across Australia.
In Store, At Airport
Get better rates for new travel money cards and travel money card reloads when you use our exclusive code: FINDER
In Store, Home Delivery
Order multiple currencies in one transaction and have it delivered directly to your door anywhere in Australia.

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Which option is right for your next trip?

ANZ Travel Card

ANZ Travel Card

  • Load up to 10 currencies
  • Lock in your exchange rates
  • No overseas transaction fees

ANZ Travel Card

The ANZ Travel Card is a prepaid card that can be loaded with up to 10 currencies to make purchases at home and overseas at over 38 million merchants and over 2.3 million ATMs worldwide.

  • Lock in your exchange rates and know how much money you have to spend
  • No transaction fees for electronic purchases in Australia and overseas
  • Multiple reload options - online, over the phone or in person
  • Manage your money online or over phone 24/7
  • Spare card if in case one is lost or stolen
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How many euros do I need to bring to Spain?

Spain is an enormous and diverse country. Prices and expenses will vary depending on the region. Even in the more expensive urban centres of Madrid and Barcelona, there are options for food, accommodation and activities to suit most tastes, and budgets.

For budget backpackers For deeper pockets Some standard prices
eat-in-greece Great street food, free tapas, or munch on local produce for the market. If you really try, you can get by on AU$10.00 - AU$15.00 a day for food. Seafood paella and sample a drop from the best spanish vineyards. Cost for two people could be anywhere between AU$80.00 to well into the hundreds.
  • Bottled beer: AU$4.00
  • Coffee: AU$3.00
  • A meal in a cheap restaurant: AU$15.00
  • A meal in a mid-range restaurant (for two, with glasses of wine): AU$60.00
accomodations-in-greece Barcelona and Madrid are teeming with low cost accommodation. Some options are pretty good, full of character, friendly and offer breakfast and internet included in the cost. A bed in a dorm will be AU$15.00 - AU$30.00 per night (depending on the season). In a four star hotel in the centre city for AU$200.00 per night for a standard double room.
Walk around the fascinating ruins, wander through seaside towns and lounge on the beach. It's free! Get a ferry ticket for an island hopping adventure, tickets are around $15- $50 depending on the length of the journey.
  • Metro ticket (one way): AU$1.50
  • Taxi, per kilometre: AU$2.00

*Prices are indicative and subject to change

Exchange rate history

The movement of the euro and Australian dollar currency pair is difficult to predict. The past three years has seen only minor changes in value of the Aussie dollar relative to the euro.

Year Average annual exchange Australian Dollar (AUD) to Euro (EUR)
2012 0.806041
2013 0.728778
2014 0.679508
2015 0.677914
2016 0.672243
2017 0.690862

*Exchange rates are accurate as of 4 September 2017

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Travel card, debit card or credit card?

The national currency for Spain is the euro. As one of the major global currencies, all travel cards let you load and spend euros. But is a travel card the best travel money product for your trip? Visa and Mastercard have wide acceptance at shops and ATMs throughout Spain. You can use your debit card or credit card like you would in Australia; just look for the products which waive the currency conversion fee when you spend.

Travel money options for Spain at a glance

Travel money option Pros Considerations
Debit cards for travel
  • Ability to use your ATM card in most places while in Spain
  • Protected by PIN & chip
  • Debit cards will not incur an interest rate as it uses your own money from your transaction account
  • Most of the debit cards will charge an additional currency conversion fees
  • Not a credit product
  • No emergency funds available though a cash advance facility.
Prepaid travel money cards
  • Ability to hold Spanish Euro on almost every prepaid travel on the market
  • Ability to lock in the exchange rate for the funds that you 'load' on to the card before you go
  • Secured by PIN & chip technology
  • International ATM withdrawal fees, card issue fees and initial load fees may apply
  • Reload fees could be high
  • Some travel cards charge for inactivity fee
Credit cards for travel
  • Protected by PIN & chip
  • Access to funds up to your credit limit
  • Accepted worldwide
  • No currency conversion/ transaction fees
  • Benefits including rewards points on spending, 0% purchases, frequent flyer perks
  • Some credit cards offer complimentary travel insurance
  • Interest-free days when you pay your account in full
  • Emergency card replacement
  • Can charge high withdrawal and cash advance fees
  • Higher spending limit (depends on your approved credit limit)
  • Withdrawing cash can be considered a "cash advance" and can charge you fees and high interests
  • Card scheme anti-fraud guarantees don't apply in a credit card with a positive balance
  • Higher spending limit (depends on your approved credit limit)
  • Attracts an annual fee
Traveller's cheques
  • Have the added security of needing ID to be cashed
  • Availability to cash at banks
  • Secure and can be easily replaced if lost or stolen
  • Card schemes such as Mastercard give you a money back guarantee if you're a victim of card fraud
  • Expect to be charged a commission when cashing your cheques
  • Fees for purchasing and cashing traveller's cheques may apply
  • Currency exchange rate varies over time
  • Not common in Spain for the simple reason that ATMs are everywhere and offer a more competitive exchange rate and that's what most people use
  • Greater payment flexibility
  • Convenience
  • More difficult to manage expenses
  • Higher risk of theft

This table is a general summary of the travel money products in the market. Features and benefits can vary between cards.

How each travel money option works in Spain

Here's how different travel money products are going to work in Spain.

Using travel prepaid cards

You can load euros onto all travel money cards and spend without incurring the fee for currency conversion. This is the main feature of any travel money card, and one of the main reasons why they're popular with travellers. With that box ticked, choosing the right travel money card to take to Spain will require a comparison of the cards other features such as reload fees, inactivity fees and ATM withdrawal fees.

  • Tip: You reload these products via online transfer and BPAY while you're overseas. It can take up to 3 business days for a BPAY payment to clear, even more so if you try to reload your card over a weekend or public holiday. With this in mind, avoid letting your balance drain to $0 before loading to avoid being stranded without any funds.

Using debit cards

Travel-friendly debit cards can give you the best of both worlds: the ability to spend your own money abroad and the freedom to withdraw cash without incurring extra charges. The best debit cards for travel in Spain will allow you to withdraw euro from an ATM without incurring foreign ATM usage fees. Over the length of a trip, ATM fees can add up to the price of a night out. Have a look at the Citibank Plus Transaction Account. You get a Visa Debit card to use over the counter or at ATMs, Citibank don't charge for currency conversion, there's no international ATM charge and no account keeping fee either.

  • Tip: Although Citibank are not the biggest bank in Spain, they have a number of branches throughout the country where you can use your Citibank debit card to make cheap ATM withdrawals.

Using Australian credit cards

There are a number of competitive credit card products designed for travellers. The most suitable credit cards to take to Spain won't charge for currency conversion. However, you shouldn't be using your credit card to get cash from an ATM. Cash advance charges and interest can add up quickly and eat away your available credit.

  • Tip: Some credit cards offer complimentary international travel insurance when you charge the cost of your travel ticket to your card.

Using traveller's cheques

Traveller's cheques give you security. Only you can cash your cheques. Given the money back guarantees in place from card providers if you're the victim of card fraud, traveller's cheques have been made redundant. You're able to spend conveniently and safely in Spain using your debit card, credit card or travel card.

Paying with cash in Spain

It is advisable to always have some cash with you in Spain. Expect to use it to pay for smaller things like your morning coffee. Being modern Western European cities, using your card to get around in Barcelona and Madrid should be pretty easy. Keep in mind that you're going to need cash for purchases under €10 - €20 at most shops. spain banknotes copy

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Interview with Michael about travel money and his trip to Spain

Merrymaking in Barcelona and Madrid

Michael visited Barcelona and Madrid on his way to Lisbon from Paris. Barcelona was his first stop in Spain, and visiting the Sagrada Familia was number 1 on his to do list. All up, Michael spent two weeks in Spain. One week in Barcelona and one week in Madrid. He travelled on the Eurostar, which was a little expensive, but convenient and a great way to see the European countryside.

What cards did you take?

Michael says he took 2 debit accounts and a credit card to Spain.

Why did you take these cards?

Michael used his Citibank card as a travel card. It was free to open and cost nothing to keep so he wasn't concerned if he didn't use it once he got back home. He transferred money from his St.George Complete Freedom account to his Citibank account and then used the Citibank Plus to withdraw from ATMs. Many bank ATMs throughout Europe do not charge local operator fees. His Citibank card doesn't charge for international ATM withdrawals or for currency conversion so he was getting a pretty good deal each time he took out cash. He also used his Citibank Plus card to make over the counter purchases where you could to avoid the 3% fee for currency conversion. He used the Bankwest credit card to pay for his flights so he got the complimentary international travel insurance. As well as the Citibank card, the Bankwest card didn't charge for currency conversion, he used this card on occasion to make over the counter purchases. The credit card offers up to 55 days interest free, he paid back his card purchases by the statement due date and he didn't get charged any interest.

Where could you use your cards?

Michael says he used his card more than cash in Madrid, there were lots of places where he could use his Mastercard and Visa cards. He says minimum transaction amounts were a problem, for example, he had to buy three or four packs of cigarettes at a time to get over the 10 or 20 euro minimum transaction amount. There is a very low or minimum limit for card payments at supermarket chains such as Mercadona and Carrefour.

Did you use ATMs?

Michael says he made withdrawals from ATMs with an affiliation to his banks: Citibank, Barclays Bank and Deutsche Bank. He didn't have to look far to find one of these machines in Madrid.

What tips do you have for using travel money in Spain?

The Madrid tourist card was offered to Michael but he turned it down. This gives you free entry to museums, free guide books and access to guided tours. Michael says this is only a good idea if you plan on spending a couple of days filled to the brim culture spotting. There's a saving on museum entry fee of approximately €10.00 but prices for the card start at €50 for a 1 day pass. Michael also says watch out for the IVA tax, which isn't included in some bills and can be as high as 20%.

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Buying currency in Australia

There's no limit to the amount of cash you can bring with you to Spain. However, you'll need to make a declaration at customs if you're travelling with more than €10,000 cash (this includes traveller's cheques). You have a number of options for picking up euros in Australia. Your bank can sell you euros for a competitive rate; however, you will be charged a commission for the service. Providers such as Travelex and Australia Post can also sell you euros — you can order online and collect your cash from the airport before you leave. There's no commission and they offer a slightly better rate than the banks. For example, buying $1,000 worth of euros gives you €641.80 with Travelex and €635.70 at Commonwealth Bank. Have a look at the following providers if you want to purchase euros in Australia.

Exchanging cash

If you have foreign cash to change you will be overwhelmed with choice in Barcelona and Madrid. Exchange offices away from tourist attractions and banks will have better exchange rates. If you want to get the most competitive exchange rate, don't get money changed at the airport. In Las Ramblas, the famous/infamous main drag in Barcelona exchange offices will be open late, but the rates will be poor.

Using ATMs

You will be able to find ATMs in all Spanish towns and cities, petrol stations, shopping centres and bus and train stations. Bank affiliated ATMs generally won't charge you for usage except for Catalunya Caixa Bank, who will charge a couple of Euros. Most ATMs, and almost all in larger towns and cities will have an English option.

  • Tip: Westpac Group cardholders (Westpac, St.George, Bank of Melbourne and BankSA) can avoid the international ATM fee by making withdrawals from Deutsche Bank and Barclays ATMs in Spain.

Find cash and ATMs in Spain

Why you'll need a combination of travel money options

A combination of travel money products is the best approach to funding your trip to Spain. Use a debit card or a travel card to withdraw cash from ATMs and to make over the counter purchases when available and use a credit card for emergencies and big ticket purchases. Credit cards offer up to 55 days interest free on purchases if you pay your account by the statement due date and there are cards which provide complimentary insurance to protect important purchases against damage and loss. By spreading your travel money across a couple of accounts, you won't be caught without cash if a card goes missing and you can take advantage of money saving travel perks. Travellers to Spain may be surprised at how easy it is to get by without spending a fortune. With a few travel money tricks up your sleeve, it's easy to sample all of the joys of Spain, from flamenco to Dali.

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