Good to know
Good to Know
- Always decline dynamic currency conversion (DCC) at ATMs and choose to be charged in EUR to avoid hidden fees and poor exchange rates
- Deutsche Bank ATMs charge no fees; seek these out if available. Euronet machines are noticeably more expensive—avoid them
- Cards are standard in Madrid for daily transactions; carry €50-100 cash mainly for tips, small vendors, and emergencies
- Tipping by cash ensures money goes directly to staff; card tipping machines are unreliable and tips may not reach workers
- Staff in Madrid receive full wages; tips are genuinely optional and small amounts are appreciated
- 100€ notes often rejected at small shops and taxis—withdraw 20€ or 50€ denominations from ATMs
- 4-digit PIN is standard; if your card has a longer PIN, it may not work at Spanish ATMs
ATM Fees
- Typical Range
- €3.00
Standard ATM fee per transaction in Spain
- Additional Fees
- Dynamic currency conversion (DCC) can add significant markups; always decline DCC and choose to pay in EUR
- Pin Requirement
- 4-digit PIN required; longer PINs from other countries typically don't work
Fee Range By Bank
Deutsche Bank
- Deutsche Bank
- €0.00
Only major bank with no ATM fees in Spain
Bankinter
- Bankinter
- €0.50
Banco Popular, Banco Pastor, Targobank, Caja Rural
- Banco Popular, Banco Pastor, Targobank, Caja Rural
- €0.80
BBVA
- BBVA
- €6.00
Euronet (non-bank operator)
- Euronet (Non Bank Operator)
- €5.00
Typically highest fees; avoid when possible
Banking
- Branch Hours
- Typically 09:00–14:00, Monday–Saturday; some branches offer evening hours 16:30–20:30
- NIE Requirement
- Generally required for traditional Spanish banks; some digital banks accept passport for initial setup, but NIE needed for resident account upgrade
- Opening Process
- Book appointment (cita previa) at bank branch; provide documents; sign contract; activate online banking
- Language Support
- Madrid has English-speaking staff at major branches and international-focused banks; appointment recommended for language support
- Opening Timeline
- Same-day account activation; physical debit card arrives in 5–10 business days
- Bank Recommendations
- Santander, CaixaBank, BBVA, Banco Sabadell, ING; Wise, bunq, Revolut for digital options with Spanish IBAN
Account Fees
- Debit Card
- Usually free
- Credit Card
- €30
- Maintenance Fee Range
- €0.00
- International Transfers
- €0.00
- Credit Card Note
- €30–50 per year
- Maintenance Fee Range Note
- €0 (online-only accounts) to €8–15/month (standard current accounts)
- International Transfers Note
- €0 (online services like Wise) to €15–40 per transfer (traditional banks)
Account Types
Resident Account
- Advantages
- Full access to credit cards, mortgages, loans, investment products; lower fees than non-resident accounts
- Eligibility
- Foreigners legally residing in Spain with NIE, padrón registration, and proof of residency
Documents Required
- Passport or EU ID
- NIE number
- Proof of address (rental contract or utility bill)
- Proof of employment or income
Non-Resident Account
- Advantages
- Simpler setup process; can be opened with passport for some banks
- Eligibility
- Foreigners not living in Spain full-time
- Disadvantages
- Higher fees; limited product access; conversion to resident status possible after meeting residency requirements
Documents Required
- Passport
- Proof of foreign residence
- Certificate of non-residency (some banks)
Tipping Norms
- Taxis
- Not expected; rounding up to nearest euro acceptable, especially for airport transfers or help with luggage
- Mandatory
- No
- Cafes Bars
- Not expected; rounding up change acceptable; no expectation for bartenders/baristas
- Payment Method
- Cash strongly preferred for tips; card tipping not reliable as money may go to business, not staff
- General Practice
- Optional gesture of appreciation, not obligation; staff receive full wages independent of tips
- Cultural Context
- Tipping viewed as gratitude for exceptional service, not entitlement; locals typically leave 5% or less
Hotels
- Porters
- €1 per bag if assistance provided
- Housekeeping
- €1-2 per day left daily rather than lump sum at end
- Room Service
- €1-3 unless service charge already included
Restaurants
- Tapas Bars
- Round up to nearest euro or leave coins from change
- Casual Dining
- Round up bill or leave small change (€1-2); 5% is considered normal
- Service Charge
- Check if 'servicio incluido' is listed on bill; if so, additional tipping not necessary
- Upscale Restaurants
- Up to 10% for exceptional service in Madrid tourist areas; not expected
Card Acceptance
- Amex
- Accepted at many locations but less universal than Visa/Mastercard
- Summary
- Cards widely accepted in Madrid, especially contactless; cash still needed in some situations
- Contactless
- Default payment method in 2026; accepted at most modern businesses
- Card Minimums
- Most urban businesses have eliminated €5 minimums; some small shops may still have them
- Digital Wallets
- Apple Pay and Google Pay accepted wherever contactless is available
- Visa Mastercard
- Widely accepted throughout the city, including contactless payments
AI-generated estimateData refreshed July 2026
Sources cited for this category
These are the sources cited in this money & payments research for this city. Individual figures may not each trace to one of them.
- 1.wise.com
- 2.chase.com
- 3.monito.com
- 4.madrid-traveller.com
- 5.spanaly.com
- 6.radicalstorage.com
- 7.trulymadrid.com
- 8.madrid-traveller.com
- 9.spainonfoot.com
- 10.tradingeconomics.com
- 11.moneyswapp.com
- 12.idealista.com
- 13.spaineasy.com
- 14.citylifemadrid.com
- 15.migaku.com
- 16.pacificprime.com
- 17.citylifemadrid.com
- 18.housinganywhere.com
- 19.guides.waypointsur.com
- 20.atlexlegal.com
- 21.idealista.com
- 22.prescribeme.eu
- 23.traveldoctores.com
- 24.healthplanspain.com
More About Madrid
Data last updated July 2026 · Verify anything important.