Need Cash in Euros?

Cash is not King anymore in Greece. Recent government legislation has introduced credit card payments as mandatory across a vast majority of services. These include taxis, restaurants and everything that you might need to make payment for. This is the case both in Athens, the Greek Mainland and the Islands.

Only if you plan to travel to rural and remote areas and islands cash is the recommended method of payment. In such areas connectivity issues with card terminals is an issue.

Cloudkeys always recommends not carrying large amounts of cash with you. You can do everything with a credit card. Just convert small amounts from your local currency to euros.

Some places still prefer cash

Due to the high credit card processing fees, some smaller shops, taxi drivers and generally service providers who work as individuals and not part of a big business do prefer and will value cash payments.

Credit-card processing can cost merchants up to 5% of the total transaction, so you can imagine that this is very expensive. If you plan to use an American Express, keep in mind these are the most expensive credit cards to process in Greece.

However, you are absolutely entitled to use a credit card to pay. These are just some of our recommendations as we know the heavy credit card processing fees are having a very negative impact to these businesses.

How much cash will you need in Athens?

Technically, you do not need any cash. You might consider having some euros on you should you need it. The “popular” cash activities among travelers and holidaymakers include:

Tipping
Generally if you want to tip members of staff at restaurants, hotels or other businesses, it is highly advisable to do it in cash as this almost ensures that the staff is paid with your tip and not shared with the business owner. Refer to our tipping guide for more on giving tips.

Flea markets and open-air markets
Even though these businesses and professionals are required to offer credit card payments as an option to customers and travelers, you might get the best deals in cash.

Coffee, beverages and daytime snacks
Coffee and snacks are relatively inexpensive and available from small local shops mini-kiosks around Greece. During hot summer days, hydrating with plenty of water is mandatory. You may want to consider paying cash for these.

Taxis and transport services
Any kind of transport service is legally obligated to accept credit cards. However if you do enjoy the service, the vehicle is clean, the ride stress free and the driver is friendly you might want to consider rewarding them with a cash payment. Please note that transfers from the Airport or the Ports are overall more expensive than short city rides.

For up to three days stay

You will not need more than 50-80 euros in cash, and that is a very generous amount of cash to carry with you.

For weekly stays

Up to 100 euros should be more than enough in Athens and popular islands.

The above recommendations are valid when traveling as a couple or as a family.

Best Greece travel tip about using cash

When you go out shopping or even at restaurants, you can negotiate a lower price for using cash. So in essence, due to heavy credit card processing fees, cash can still be king in some cases. Especially if the transaction you are trying to negotiate is over 30-50 euros.

Safety Considerations Regarding Cash

Cloudkeys has hosted travelers from Brazil who claimed that they know how to keep their belongings safe due to the high crime rate and sophisticated thieves operating in places around Sao Paolo or Rio de Janeiro.

Guess what, they got their cash stolen while using public transport in Athens. Maybe they were over-confident and got very relaxed. Refer to our traveler safety guide for more information and tips on how to protect yourself and your belongings in Athens.

Carrying large cash amounts with you is not a good idea.

Beware of high exchange rates at ATM machines

On a final note, if you arrive cashless in Athens, you may consider withdrawing some cash from your bank account or your credit card using an ATM. Just mind the following considerations to avoid getting overcharged in Greece:

• Prefer ATMs from the 4 major banks in Greece. These ATMs offer the best exchange rates.
  • These are Alpha Bank, Eurobank, Piraeus Bank, Ethniki Bank.
• Do not allow the ATM to convert to your local currency, as this will charge you an expensive exchange rate on top. Always withdraw cash using the local currency.
• If you have spare euros at your departure date, save them and convert at your local bank.