A successful trip to Greece, particularly to Athens, requires a basic understanding of how money works in the country. Whether you’re planning a short city break or an extended stay, knowing how to manage your finances can make your experience smoother and more enjoyable. This guide covers everything you need to know about using money in Greece, including the local currency, credit and debit card usage, ATMs, and tips for exchanging currency.

Currency in Greece

What Currency Does Greece Use?

Greece has been part of the Eurozone since January 1st, 2002, and the official currency is the euro (€). This common currency is shared by 19 of the 27 European Union member countries, which means you can use the same money while traveling throughout most of Europe. The euro comes in both notes and coins:

• Banknotes: €5, €10, €20, €50, €100, €200, and €500 (though the €500 note is rare)
• Coins: €1 and €2 coins, as well as 1, 2, 5, 10, 20, and 50-cent denominations

Can I Use Foreign Currency in Greece?

No, Greece only accepts euros. If you’re carrying US dollars or any other foreign currency, you’ll need to exchange it for euros or use your credit or debit card.

Do You Need to Use Cash in Greece?

Cash vs. Card in Greece

The use of debit and credit cards is widespread in Greece, making it easier for travelers to navigate without constantly needing cash. Even small shops, street kiosks, and cafes are typically equipped with point-of-sale (POS) machines that accept cards. However, carrying some cash is still recommended for specific situations:

• Rural Areas and Smaller Islands: Less touristy places may not have the same card infrastructure.
• Street Vendors and Flea Markets: These vendors often prefer or only accept cash.
• Hotels and Accommodations: Some hotels may require cash payments for certain services even if you’ve paid a deposit online with a card.

Avoid (or at least minimize) cash exchange

When traveling in Greece, it’s best to avoid or at least minimize cash exchange to save money and time. Exchanging cash at airports, ports, or tourist areas often comes with high fees and unfavorable rates. Instead, rely on ATMs to withdraw euros directly, ensuring you select the option to be charged in local currency to avoid additional conversion fees. Using credit or debit cards is also widely accepted across Greece, especially in urban areas, offering a convenient and secure way to handle your expenses. By minimizing cash exchanges, you can stretch your travel budget further and focus on enjoying your trip.

How Much Cash Should You Carry?

It’s advisable to keep a small amount of cash on hand, particularly if you plan to explore areas outside of the major cities or engage in activities like visiting markets or taking short trips to less commercialized areas.

Currency Exchange in Greece

Where Can You Exchange Money?

There are several options for exchanging foreign currency into euros in Greece:

• Banks: All Greek and foreign banks offer currency exchange services. However, be prepared for longer wait times, and remember to bring your passport.
• Currency Exchange Bureaus: These are available at Athens International Airport, the port of Piraeus, and popular areas like Syntagma and Omonoia in downtown Athens.
• ATMs: Withdrawing euros directly from an ATM using your foreign card is often the easiest and least expensive way to get local currency.

Tips for Currency Exchange

• Know the Exchange Rate: Check the average exchange rate before exchanging money to ensure you’re getting a fair deal.
• Avoid High Fees: Try to avoid exchanging currency at airports, ports, and major tourist areas where rates are typically higher.
• Use ATMs Wisely: When withdrawing from an ATM, always choose the option to be charged in euros to avoid additional conversion fees.

Using ATMs in Greece

ATM Availability and Fees

ATMs are widely available in Athens and other major cities, often found in locations like:

• Large squares
• Metro stations
• Supermarkets
• Shopping streets
• Airports and major ports

Important Tips for Using ATMs

• Daily Withdrawal Limits: Most ATMs in Greece have a daily withdrawal limit, typically around €600. This limit may also depend on your home bank’s policies.
• Flat Fee for Foreign Cards: Expect to pay a flat fee ranging from €2 to €4 for using a foreign card, in addition to any exchange rate fees.
• PIN Codes: Greek ATMs only accept 4-digit PINs. If your card uses a longer PIN or includes letters, change it before your trip.
• Smaller Towns and Islands: If traveling to more remote areas, carry enough cash as ATMs might run out of money or be less available.
• Tourist ATMs: Avoid using “tourist ATMs” that don’t belong to local banks, as they often have higher fees and less favorable exchange rates.

Using Credit and Debit Cards in Greece

Card Acceptance and Fees

Using credit and debit cards is now common across Greece, especially in cities like Athens. Most establishments, including hotels, shops, and restaurants, accept cards, particularly Visa and Mastercard. However, smaller businesses and rural areas might still prefer cash. Here’s what to keep in mind:

• Check Beforehand: Ask if a small cafe or taverna accepts cards before ordering.
• Accepted Cards: While Visa and Mastercard are widely accepted, Diners Club and American Express may not be as commonly used due to higher transaction fees for businesses.
• Chip-and-PIN Required: To use a credit card, you’ll need a chip-and-PIN card. Contact your bank before your trip if you don’t have one.
• Transaction Fees: Expect a transaction fee of about 3% for credit card payments, which covers currency exchange costs.

Contactless Payments

Contactless payments are widely accepted across Greece, with a daily limit of €50. Transactions exceeding this amount require you to insert your card and enter your PIN.

Banks in Greece

Major Banks and Opening Hours

Greece has several major banks, including:

• Central Bank of Greece
• Alpha Bank
• Eurobank
• National Bank of Greece
• Piraeus Bank

These banks have branches in all major cities, with opening hours typically from 8 AM to 2 PM, Monday to Friday. Note that banks are closed on public holidays.

Opening a Bank Account in Greece

If you’re visiting Greece for a short time, opening a local bank account isn’t necessary. However, for long-term stays, such as those planning to work remotely or stay for an extended period, setting up a bank account might be beneficial.

Other Payment Methods

Traveler’s Checks

While traveler’s checks were once popular, they’re now less common. You might be able to use them in tourist areas, but outside of Athens, they may not be accepted. It’s advisable to exchange them for cash at a bank if you plan to use them.

Personal Checks

Personal checks are rarely used in Greece and won’t be accepted at most restaurants, hotels, or shops. Even exchanging them for cash at a bank can be difficult.

Cost of Living in Greece

To manage your budget effectively while traveling in Greece, it’s helpful to have a sense of everyday costs. Here are some typical prices:

• Public Transport Ticket: €1.20 (valid for all public transport)
• Coffee at a Cafe: €3.50–€5
• Souvlaki: From €2.50
• Sandwich: From €3.50
• Cinema Ticket: €7–€10
• Theatre Ticket: €25–€50
• Bottle of Water (0.5 liter): €0.50
• Beer at a Bar: €3.50–€5
• Drink at a Bar: €6–€9
• Three-Course Meal at a Mid-Range Restaurant: €25–€45

FAQs: Money in Greece

Does Greece still use euros?

Yes, Greece has been using the euro since 2002 as its official currency.

Can I use my UK card at Greek ATMs?

Yes, UK cards work at all ATMs in Greece.

What is the best currency to use in Greece?

The euro is the only currency accepted in Greece.

Do Greeks prefer cash or cards?

While cards are widely accepted, cash is still preferred in smaller establishments and rural areas.

Is Greece cheap or expensive?

Greece is relatively affordable, especially for food and transportation. Booking accommodation in advance can help you find better deals.

How safe are ATMs in Greece?

ATMs in Greece are safe and reliable, but it’s best to use those attached to banks rather than standalone ones.

By understanding these key points about money in Greece, you can better manage your budget and enjoy a hassle-free trip. Whether you’re paying with a card or cash, knowing how to handle your finances will ensure you avoid any unpleasant surprises during your stay.