Yes… and Here’s Why It Still Matters
You might think in 2026 you can travel anywhere in Europe and just tap your card for everything. Madeira almost lets you do that. Almost.
Because the moment you’re standing at the top of Monte, ready to jump into one of those famous wicker basket rides… you’ll hit a very old-school reality: No cash, no ride. And it’s not just that. On our recent spring trip, we found that cash still quietly runs parts of the island in a way that can catch you out if you’re not prepared.
The Moments That Caught Us Out - The Monte Toboggan Ride (Wicker Baskets)
You might think in 2026 you can travel anywhere in Europe and just tap your card for everything. Madeira almost lets you do that. Almost.
Because the moment you’re standing at the top of Monte, ready to jump into one of those famous wicker basket rides… you’ll hit a very old-school reality: No cash, no ride. And it’s not just that. On our recent spring trip, we found that cash still quietly runs parts of the island in a way that can catch you out if you’re not prepared.
This is one of Madeira’s most iconic experiences. Two men in straw hats guiding you downhill in a wicker basket… it feels like stepping into another century.
But so does the payment method.
- Cash only
- Around €35 for two people
- No card option, no workaround
If you don’t have euros on you, you’re simply not getting on. And there’s a second trap here.When you arrive, it looks like you can just join the queue. You can’t. You need to buy a ticket first, and the ticket office is awkwardly positioned right at the front of the queue. Easy to miss. I made exactly that mistake. Halfway through the line, had to peel off, find the ticket office, and start again.
Tip: Buy your ticket first, then join the queue.
Taxis: Quietly Cash-First
Taxis in Madeira clearly prefer cash – I didn’t see a card machine, and while they all spoke good English no one mentioned paying by card!
What that means in practice:
The Reality: Madeira Is Card-Friendly… But Not Cashless
Once you get past those moments, Madeira feels very modern.
Where Cards Work Perfectly
- Restaurants and cafés (sometimes the bill comes on a ipad sort of device as well)
- Bars and hotels
- Cable cars and attractions
- Contactless almost everywhere
In places like Funchal, you can comfortably go most of the day without using cash – although tips are ALL in cash!
Watch Out: The “Pay in Pounds or Euros” Trap
When paying by card, you will often see:
“Do you want to pay in British pounds or euros?”
Always choose euros. But then comes the second question:
“Do you want to accept the currency exchange?”
This is where people get caught.
It is effectively the terminal having two attempts to move you onto its own exchange rate:
- First to switch you into pounds
- Then to quietly switch you back again
If you accept:
- You pay in pounds
- At a worse, marked-up exchange rate
The correct approach:
- Choose euros
- Then decline the currency exchange
Let your own bank handle it. It is almost always better value.
So… How Much Cash Should You Take?
You do not need huge amounts, but you do need enough to avoid hassle. A sensible approach is around £400 worth of euros per couple. That comfortably covers:
- Taxis for a few days
- The toboggan ride
- Tips and smaller purchases.
Our Take
Madeira sits in an interesting middle ground. It is modern, easy, and largely card-friendly…
But still has just enough cash-only moments to catch you out if you arrive unprepared.
So, the smart approach is simple:
- Use your card for many things – make sure you know the charges first!
- Carry a decent amount of euros upfront
- Stay alert when the card machine starts asking clever questions
It is a great place to visit – cash and cards make sense!
Tony Gibbons Director at besttravelmoney.com
April 26