Useful Info about Madrid
Winter in Madrid can be very cold and temperatures can drop below freezing and Madrid experiences light snow cover every few years. Generally however, the average winter temperature is around 7 degrees centigrate (45 F) and rainfall is minimal.
The summer months of July and August are hot and sunny with temperatures often in the 40's centigrate (100's f). Madrid is virtually a ghost town for the month of August as many locals take the month off work to retreat the heat and spend the month at the beach resorts.
Many businesses are shut down or have sporadic hours during the summer due to local holidays. Banks are generally open Monday till Friday from 8:30am until 2pm, on Saturdays they are closed from May until September. During the months October to April banks are open on Saturdays as well.