Mallorca (Majorca) is part of the Balearic Islands of Spain; therefore, the official currency is the Euro (€). In 2026, Mallorca has become almost entirely a "cashless" society in its major tourist hubs like Palma, Magaluf, and Alcúdia. Almost every establishment—from high-end restaurants to small "chiringuito" beach bars—accepts major credit cards and contactless payments. However, it is still a 2026 travel "best practice" to carry a small amount of Euro cash (€20–€50) for smaller purchases at local markets in the Serra de Tramuntana mountains or for tipping at boutique hotels. When using ATMs in Mallorca, travelers should always choose to be "Charged in EUR" rather than USD or GBP to avoid the "Dynamic Currency Conversion" (DCC) fees, which can add an unnecessary 10% to your transaction cost. Foreign exchange booths are available in the airport, but they typically offer the least favorable rates compared to local bank ATMs.