Greece’s Currency
Greece’s currency is the Euro (EUR). Euro banknotes come in denominations of 5, 10, 20, 50, 100, 200, and 500 euros. Coins have values of 1 and 2 euros, along with 1, 2, 5, 10, 20, and 50 cents.
Overall, the exchange rate in Greece is stable, so you shouldn’t have any trouble exchanging your currency. Just be sure to check the exchange rate and find the best place to exchange your currency to get the best deal.
Current Exchange Rate: USD to EUR
As of today, the exchange rate is approximately 1 USD = 0.916 EUR. This means that for every US dollar, you would receive about 0.916 euros. Conversely, 1 euro is equivalent to about 1.091 US dollars (X-Rates) (XE).
Keep in mind that exchange rates can fluctuate slightly, so it’s a good idea to check the rate close to your travel date for the most accurate conversion.
CLICK HERE TO FIND good Apps to Download: Current Exchange Rates
Cash vs. Card in Greece?
- Cash is king anywhere in the world, this is no exception in Greece!
. - Card is widely accepted in Greece, but cash is still commonly used. Foreigners might use a mix of cash and cards, with an estimated 60-70% of transactions in cash. As well, you may be able to negotiate more or avoid extra fees.
. - USING CHARGE CARDS: Although the bigger cities in Greece will likely accept credit cards, smaller shops, towns, and cafés may not. We have found VISA and Mastercard are the most widely accepted. AMEX is not as popular, honored mostly in larger establishments!
. - If you plan to use a credit or debit card in Greece, make sure you contact your bank and let them know that you will be traveling. This avoids your account being blocked due to suspicious activity.
. - Consider converting some of your USD into EUR while in the USA. NOTE: Watch for conversion rates and commission (also known as “fees”) your bank will charge you.
. - Do not bring in too much USD cash into Greece. You will not be able to convert USD currency into euros at any bank unless you have an account there. Our experience has been limited to “Fed Ex” offices. There are other “exchange spots,” but they are usually not convenient and have very expensive fees. (Below we list how much is the maximum that you can bring in without declaring it to the officials.)
. - As tempting as it is (and you are NEVER that desperate) when hitting the airport, AVOID the Currency Exchange offices. Their commission and conversion rates are unbelievable—sometimes as much as 30% combined!
THE BEST WAY TO GET LOCAL CURRENCY!
- Consider bringing in converted cash (from your bank) into Greece. But remember there may be limits on how much to bring.
- Therefore, we recommend using a DEBIT Card in Greece to pull local currency cash out of the ATMs. Furthermore (and most importantly), we suggest using ATMs that are connected (or associated with a bank). They usually do not charge a (or high) commission, and their conversion rates follow current banking quotes, and thus, are more forgiving.
ATMs in Greece
- Greece’s 5,000+ ATMs are mostly operated by its major banks and are found in cities and towns. In remote areas, however, ATMs are not as common. Look for them in usual spots like airports, market squares, and shopping areas. The most forgiving rates are those associated with bank branches. Is your bank associated with the Global ATM alliance: Global ATM Alliance is a partnership among many banks in the world to allow its customers to withdraw cash from all partner banks abroad without any ATM fee. Many banks in the US, UK, Europe, Australia, and Latin America are part of the Global ATM Alliance, including Bank of America, Barclays, Deutsche Bank, and others. BUT, there is no local bank in Greece part of this network. So don’t rely on this.
- Withdrawal limit: ATMs typically restrict the withdrawal per transaction from €600 to €840 per transaction. Some ATMs do not restrict the per transaction amount and allows you to withdraw as much as the limit of your bank card.
- ATM fees: Unfortunately, there are no fee-free ATMs in Greece. ATMs fees range from €1.5 to €2 per transaction, most common being €1.8. So you can at least find an ATM with the lowest fees.
- Ways to avoid high fees For ATMs: Use fee-free ATMs in the country. Use the ATM Fee Saver app to find fee-free or low-fee ATMs. Opt for “Decline Conversion” or “Without Conversion” during ATM transactions. Consider getting fee-free cards from your home country.
- This article offers more details and good resources for Cashing Out in Greece! “Cash and ATMs in Greece: All info you need for ATMs, fees, limits, exchange, cards” >> LINK
For currency exchanges:
Avoid no-fee exchange offices at all costs to get cash in Greece – If they say no fee, which means they account for their fee in the exchange rate. Nothing is ever free in currency exchanges
Avoid using credit and debit cards for direct transactions
Greece’s banking system is made up of four systemic banks that control the majority of the market share:
- National Bank of Greece (NBG)
The oldest and second largest bank in Greece, with over 500 branches and a wide range of personal and business accounts. NBG is popular with both locals and expats. - Piraeus Bank
The largest bank in Greece by total assets, with a variety of financial products. - Alpha Bank
Founded in the 19th century, Alpha Bank is the second largest bank in Greece. - Eurobank Ergasias
Offers retail banking for international customers, including expats, and allows customers to open accounts remotely. Eurobank has been named the best bank in Greece for seven years in a row
How Much Money (Cash) Will I Need in Greece?
This is a common question with a variety of answers. Remember, the USD currency will not have much use in Greece. The local currency, the Euro (EUR), is king. Just bring enough USD to get you through your travels to and from the USA and Greece (for quick spends in airports). We suggest under $200.
As a rule of thumb, avoid carrying large amounts of cash, but make sure you have enough to cover your daily needs. Here are some ideas:
What you may wish to spend money on:
- COVERED: Remember, all your lodging, transfers, transportation, and entry fees for activities listed on the itinerary are covered by your package.
- NOT COVERED: Activities and Meals not included in the itinerary. All breakfasts are generally covered. Tipping of guides and coach drivers are not covered. .
- General Rule we recommend: Your General Tour Guide may be provided €10-20 per day, per person. This, of course, depends on the type of service you received. It is best to pay with cash, but they may provide a Venmo or PayPal account for submission.
- Guides/Representatives at local activities (not our General Guide): €2-10 per person after the activity, if you feel it is merited. Pay with cash.
NOT Covered:
Cost of Meals:
If you’re on a tight budget, you can get by on €3-5 for a meal from street vendors. If you’re willing to splurge and try more exquisite Greek food at a high-end restaurant, you’ll be looking at paying around €50-70 per meal.
A typical lunch could be: €10-20.
A typical mid-range dinner: €15-25, but an inexpensive restaurant may cost you around €5-10.
Tipping in Greece:
- For tipping our guides and coach drivers, see the section above.
- When it comes to tipping in Greece, it’s not always customary, but it is appreciated. Some restaurants may add a service charge to the bill, particularly in tourist areas. If they don’t, you can round up the bill and leave the change as a tip if you’d like, but it’s not strictly expected.
- If you wish to tip, it’s generally done in local currency (Euros).