Good to know
Good to Know
- Bank-affiliated ATMs (Banca March, Caixabank) charge little to nothing; avoid standalone machines which often charge €3–€5.
- Contactless payments via phone are now common, but some older small establishments still require cash.
- The 7% IGIC tax shown on bills is not a tip—service is almost never included unless explicitly marked 'servicio incluido.'
- Tipping staff in cash is genuinely appreciated and more likely to reach the individual than card-based tips.
- When withdrawing cash, always choose EUR over your home currency at the ATM prompt to avoid poor exchange rates.
ATM Info
- Description
- ATMs are widely available throughout Santa Cruz, though fees vary significantly by bank and ATM type.
Fee Notes
Bank-affiliated machines (Banca March, Caixabank, La Caixa)
- Details
- Banca March consistently offers free withdrawals; La Caixa and Caixabank generally do not charge
- Typical Fee
- Free or minimal charge
Typically €2–€5 per withdrawal; avoid if possible
- ATM Type
- Standalone or convenience ATMs (BBVA, Euronet)
- Typical Fee
- €2.00
Santander ATMs
- Typical Fee
- Free only for Santander account holders; expensive for others
Locations
- Santa Cruz Bus Station (free ATMs available)
- Tenerife North and South Airports
- Calle Castillo (main shopping street)
- High streets and shopping centres throughout city
Important Notes
- Always check the ATM display before completing withdrawal—fees are shown on-screen
- Choose local currency (EUR) when prompted to avoid unfavorable exchange rates
- Use bank-branch ATMs over standalone machines to minimize fees
- Check with your home bank before traveling regarding their foreign withdrawal policies
Tipping Norms
- Currency Local
- EUR
- Service Charge Info
- Service is rarely included in the bill unless explicitly stated. The 7% IGIC (Canary Islands indirect tax) displayed on bills is a tax, not a tip.
- Payment Method Preference
- Cash strongly preferred for tipping; card tips may not reach the staff member due to banking fees and commissions
- Description
- Tipping is voluntary and appreciated but not mandatory in Santa Cruz.
By Category
€1.80 coffee → round to €2.00
- Practice
- Round up or leave small change
- Venue Type
- Restaurants (casual/tapas)
5–10% if satisfied with service
- Percentage
- 5-10%
- Example
- €3.00
- Venue Type
- Restaurants (mid-range)
10% for exceptional service
- Percentage
- 10%
- Venue Type
- Restaurants (fine dining)
Small change or 1–2 euros; not mandatory
- Venue Type
- Bars and cafés
Longer journeys (airport to resort): €2–€3 tip is generous
- Practice
- Not expected; round up to nearest euro on shorter rides
- Venue Type
- Taxis
€1–€2 per day, left daily or as lump sum at checkout
- Venue Type
- Hotel housekeeping
- Note
- Leave clearly in an envelope so staff understand it is a tip
€1–€2 per bag
- Venue Type
- Hotel porters/bellhops
Not expected
- Practice
- €5 at end of stay if went above and beyond
- Venue Type
- Hotel concierge
Payment method: cash preferred
- Practice
- €2–€5 per person appreciated
- Venue Type
- Guides and tour operators
Card Acceptance
- Minimum Transaction
- €6.00
- Description
- Card acceptance is widespread in Santa Cruz de Tenerife, particularly in hotels, restaurants, shopping centers, and larger establishments.
Details
Visa, Mastercard, American Express commonly accepted
- Merchant Type
- Major establishments (hotels, restaurants, shopping centers)
- Cards Accepted
- Yes
Small bars, local restaurants, and independent vendors
- Cards Accepted
- No
- Note
- Some still operate cash-only, though less common than in past years
Apple Pay, Google Pay, Samsung Pay widely accepted
- Merchant Type
- Contactless payments
- Cards Accepted
- Yes
Major Banks
BBVA
- Name
- BBVA
- Features
- Excellent mobile app; straightforward account opening for residents.
- Requirements
- Requires NIE and empadronamiento for resident accounts.
- English Support
- English-speaking staff in Santa Cruz de Tenerife branches.
- Note
- One of Spain's two largest banks (alongside Santander).
Sabadell
- Name
- Banco Sabadell
- Features
- Expansión account has no maintenance fee if monthly income exceeds €800; includes free debit card and decent travel insurance.
- English Support
- Dedicated English-language support with branches throughout the Canary Islands, including multiple locations in Tenerife.
- Mortgage Support
- Suitable for mortgage applications and complex financial needs.
- Note
- Widely considered the most expat-friendly large Spanish bank.
Caixabank
- Name
- CaixaBank
- Holabank Service
- HolaBank is specifically designed for non-residents. Can be opened at a branch without empadronamiento certificate; useful immediately after getting NIE.
- Note
- Offers non-resident accounts for those not yet empadronados.
Santander
- Name
- Banco Santander
- Features
- Commission-free banking if you pay in salary or pension. Good ATM network.
- Advantages
- English-speaking support for non-residents with basic requirements and low commissions.
- Note
- Spain's largest financial entity.
Account Types
Resident Account
- Eligibility
- For those with temporary or permanent residency in Spain.
- Minimum Deposit Range
- €50
- Minimum Deposit Range Max
- €1,000
- Minimum Deposit Note
- Initial minimum deposits typically range from €50 to €1,000 depending on the bank and account type.
Documents Required
- Valid passport or ID card (EU citizens)
- NIE (Foreigner Identification Number – Número de Identificación de Extranjero)
- Proof of address (utility bill or rental contract)
- Proof of income (payslip or tax return)
- Empadronamiento certificate (proof of address registration)
Non Resident Account
- Eligibility
- For those without Spanish residency but owning property or conducting business in Spain.
- Restrictions
- Non-resident accounts typically have higher fees than resident accounts. Banks have different policies; some allow fee reduction by reaching a certain monthly income level or using a credit card regularly.
- Processing Time
- Certificate of non-residence can take approximately 10 days to obtain.
- Tax Note
- Non-resident bank accounts in Spain are not taxable.
Documents Required
- Passport
- Certificate of non-residence (from police station or country's consulate in Spain)
- Proof of address abroad (utility bill or bank statement)
Digital And Fintech
N26
- Name
- N26
- Type
- German-licensed neobank
- Features
- Clean app, Spanish IBAN (ES), no foreign exchange fees abroad.
- Limitation
- Not accepted for Spanish mortgage or tax payments.
Wise
- Name
- Wise
- Use Case
- Useful for initial expenses like rental deposits and property purchases before establishing Spanish accounts.
- Advantages
- Multi-currency account for expatriates; can open using identification from home country without Spanish address or NIE first; good for managing money across countries.
Revolut
- Name
- Revolut
- Type
- Digital bank with Spanish IBAN
- Advantages
- Fully online account opening; no NIE required; accepted for direct debits and salary payments; good for primary account.
- Limitation
- Not accepted for Spanish mortgage or tax payments (Modelo 720, IRPF). Need traditional Spanish bank alongside it for these purposes.
Account Opening Process
- Online Option
- Most banks allow online account opening if you have all necessary documents, especially digital banks like Revolut and N26.
- Canary Islands Note
- In Gran Canaria and Tenerife, empadronamiento can sometimes be completed the same day at your local Ayuntamiento (town hall).
General Steps
- Choose a bank and compare fees, services and English-language support
- Gather all necessary documents in originals AND photocopies
- Book an appointment at branch in advance (walk-in waits can be long during October–April peak season)
- Sign paperwork and arrange initial deposit
- Receive account number in IBAN format
System Overview
Spain has an integrated, internationalized banking system. Spain's national bank, the Banco de España, regulates the banking sector.
Documentation Tip
Always bring all documents in originals AND photocopies, even if not requested, to avoid return visits.
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.tripadvisor.com
- 2.tripadvisor.com
- 3.tenerifetourist.com
- 4.wise.com
- 5.canariasacross.com
- 6.clubcanary.com
- 7.blog.gettransfer.com
- 8.celebritycruises.com
- 9.visitcanaryislands.org
- 10.canaryvip.com
- 11.guidetocanaryislands.com
- 12.tenerife-city.com
- 13.webtenerife.co.uk
- 14.tradingeconomics.com
- 15.thetenerifeforum.com
- 16.vithas.es
- 17.operarme.com
- 18.international.quironsalud.com
- 19.webtenerife.co.uk
- 20.expathelper.es
- 21.asesoriaquintero.com
- 22.businessforsaletenerife.com
- 23.expat.com
- 24.myspanishresidency.com
- 25.tenerife.expert
- 26.expatica.com
- 27.doctorsa.com
- 28.farmaten.com
- 29.xe.com
More About Santa Cruz de Tenerife
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- Emergencies in Santa Cruz de Tenerife
- Walkability & Transport in Santa Cruz de Tenerife
Data last updated July 2026 · Verify anything important.