Wondering what the currency is in Tenerife? As in mainland Spain, the currency in Tenerife is the euro. Spain is part of the eurozone, which makes things convenient for frequent travellers in and around Europe. Everyone wants the best exchange rate, and there are a few ways to make sure you get the best value when it comes to spending money.
And then there’re always Travellers Cheques. Fewer businesses accept them as direct payment today, but they’re still a great way to pick up a bargain exchange rate, and then change back to cash when you need it.
If you’re not able to grab any cash before you leave for your holiday, you can always exchange money at your local resort.
Withdrawing your Tenerife currency from a local cash machine is also an option, but make sure you’re aware of any charges or limits your bank may have set. Some may charge you to withdraw in a foreign country, or in a different currency, so make sure you check before you jet off.
The only place we’d advise you to avoid collecting travel money is at an airport, where exchange rates tend to be less favourable and have added fees.
Credit and debit cards are accepted all over Tenerife, with chip & pin and swipe & sign facilities. Only the most remote restaurants and bars won’t have a card reader.
Despite this, Tenerife shops and restaurants usually prefer cash for small purchases, and it’s always useful to carry a little cash to help with budgeting and emergencies. It’s also handy to carry a few coins so you can tip the waiters and servers if you feel inclined, as the cash is more likely to stay with the person you tip.