The currency in Madrid is the Euro. You’ll find plenty of banks and exchange offices in Madrid but a lot of travellers like to exchange their Sterling before they go. If you’re on a city break it’s good to be able to get on with enjoying the galleries of El Prado, checking out the shops in Barrio de Salamanca, or heading to the home of European football at Real Madrid without having to worry about finding somewhere to change your money or falling foul of high airport exchange fees.
If you prefer to limit the amount of cash you carry, then you’ll find ATMs are plentiful. Ask your bank what they charge for spending money abroad and if you’re not happy with the fees, which can be quite high, you might find a pre-paid travel money card is a useful alternative. You can load it up before you travel, then top up as you need to. There’s no charge for purchases, and withdrawing your currency in Madrid is a flat cost, so you know exactly where you are. Cards are accepted in most major shops, bars and restaurants, making it an easy way to organise your spending.