All About Money in Greece: Credit Cards, Banks, ATMs and Currency

A basic understanding of how money in Greece works and how you can better handle your budget will inevitably be a crucial part of your trip to Athens.

This article gathers all the useful information you will need in one place for a trip without unpleasant surprises.

Below, you’ll find practical info on the currency of Greece, the use of credit and debit cards and ATMs, and a few tips for exchanging money while traveling to Athens.

Currency in Greece

The official currency of Greece has been the euro (€) since January 1st, 2002 when the country joined the Eurozone.

Thus, Greece shares a common currency with 19 out of 27 European Union member countries, meaning that you can use the same money while traveling throughout most of Europe.

The euro is issued in notes and coins. Specifically: 5, 10, 20, 50, 100, 200, and 500 euro notes (the last one being very rare) and coins of 1 and 2 euros as well as the denominations of 1, 2, 5, 10, 20, and 50 cents. Check the Euro rates here.

Do You Need to Use Cash in Greece?

Although the big cities of Greece are now considered cash-free, you should always have some cash with you in Greece. That’s because there are some cases such as less touristy places or street vendors who are rarely equipped with POS machines and getting paid only in cash.

But let us explain. Until recently, the everyday use of cash in Greece was very common in major cities and the more rural areas. However, in the past few years, this has drastically changed.

Now, the major cities of Greece like Athens and Thessaloniki are cash-free to a great extent, and the use of debit and credit cards is very widespread, especially at younger ages.

Almost all local businesses use point of sale (POS) machines for all kinds of cards – even street kiosks and small shops.

This has made traveling through Greece easier for visitors since you won’t always need to withdraw and carry around large sums of cash.

Still, there are a few reasons why we’d recommend having some cash with you.

Firstly, if you plan to visit less touristy places like the countryside or the Greek islands – on a one-day trip from Athens for example.

Secondly, you might want to visit a flea market or buy something from a street vendor downtown.

Street stalls are rarely equipped with POS machines. Plus, paying a street vendor with a card automatically means that you won’t be able to bargain for the price.

It’s also important to note that sometimes hotels will ask for payment in cash even though you have paid for an advance with a credit card online.

To avoid such misunderstandings, we recommend booking your stay through booking.com and have complete peace of mind.

Can you use US dollars in Greece?

No, you can’t use US dollars in Greece – or any other foreign currency. You must exchange your money for euros, withdraw some euros from an ATM, or use a credit or debit card. On the other hand, you can use Wise.com and enjoy the freedom of spending in local currency, saving on unnecessary charges that often accompany international transactions. Visit Wise.com now, and thank us later.

Currency Exchange in Greece

You can exchange foreign currency at all the Greek and foreign banks and at currency exchange bureaus, which you can find at the Athens International Airport, the port of Piraeus, and in the most popular areas downtown like Syntagma and Omonoia.

Keep in mind that you will need a passport to exchange cash and that the process may take longer than you would think if you choose to go to a local bank for the exchange.

Also, we suggest you ask for notes up to 50 euros as larger notes will be tough to use out on the street, especially at small shops.

Apart from banks and currency exchange bureaus, you can withdraw some money from any ATM and receive euros. This is probably the easiest and least expensive option.

You can find more information on using ATMs in Greece below.

Here are some other tips for exchanging currency in Greece:

• Make sure you know the average exchange rate before exchanging money. That way, you’ll always have a feel of your money’s worth and be able to immediately tell whether the rate you are getting is good without calculating fees.

• Avoid changing currency at airports, ports and major tourist areas. It’s a known fact that the rates at exchange desks in airports and tourist areas are often higher than the rates you can get through any of the other options mentioned above.

• When using an ATM to withdraw euros in Greece, always choose the options to be charged in the local currency. If you choose to pay the fee in a foreign currency, you’ll also pay an extra conversion fee at the local bank.

Use Wise.com: Wise is a money transfer company based in London that allows you to easily make international transfers and transactions at the international mid-market rate. No more financial surprises when you travel to Greece. Wise.com offers transparency and savings, making your trip a smooth and economical experience.

Where can you exchange currency in Athens?

If, for whatever reason, you would prefer to go to a local bank or currency exchange bureau to get cash rather than withdraw from an ATM, you’ll have plenty of options in the city center of Athens. Here are a few of them:

Central Bank of Greece

• Address: 21 Panepistimiou Avenue, Syntagma, Athens, 10250
• Phone: 210 32 01 111

National Bank of Greece

• Address: 2 Karageorgi Servias, Syntagma, Athens, 10562
• Phone: 210 33 48 015

OneExchange

• Address: 4 Karageorgi Servias, Syntagma, Athens, Attica, 10562
• Phone: 210 32 20 005
• Opening hours: 8 am to 9.30 pm weekdays, 9 am to 9.30 pm weekends

Argo Exchange

• Address: 10 Karageorgi Servias, Syntagma, Athens, Attica, 10562
• Phone: 210 32 39 659
• Opening hours: 8 am to 9 pm on weekdays, 9 am to 4 pm on Saturdays, closed on Sundays

Using ATMs to Withdraw Money in Greece

Using an ATM is probably the best way to get some cash in euros while traveling in Greece.

You will have no trouble finding an ATM in all of the popular neighborhoods of Athens in the city center and the suburbs.

A few typical places where you will spot ATMs are large squares, metro stations, supermarkets, shopping streets, and, of course, the airport and all the major ports of Athens.

List with things you should know before using ATMs in Greece:

• In some cases, ATMs in Greece have a daily withdrawal limit (usually €600). This daily limit might also result from your bank’s regulations. It’s always a good idea to inform your bank back home that you are traveling before the trip.

• You will be required to pay a flat fee for using a foreign card unrelated to exchange rate fees. This fee typically ranges from 2 to 4 euros.

• You may notice two different exchange rates while using an ATM, depending on whether you want to pay fees in local or foreign currency. The former is, in most cases, the cheaper option.

• If you are traveling to a smaller town or island, make sure to carry some cash with you. ATMs in smaller places tend to run out of cash from time to time.

• Some ATMs won’t allow you to choose between a savings and a checking account. Make sure there is some money in both.

• ATMs in Greece only recognize PIN codes with up to 4 digits. Also, letters in PIN codes are not recognized at all. If your PIN code has letters or more than 4 digits, make sure to change it before leaving home.

• Most ATMs accept a wide range of cards, but it’s not uncommon for smaller places to only have one ATM – which might not accept yours if you’re unlucky. VISA and Mastercard are accepted at all ATMs, but you must check beforehand for American Express.

• In some tourist areas, you might notice ATMs that do not belong to any of the local banks. They are usually smaller than normal and are called “tourist ATMs”. These have significantly higher fees and worse exchange rates.

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Using Credit Cards and Debit Cards in Greece

As mentioned above, using credit and debit cards is quickly becoming the norm in Greece. You’ll have no problem using a foreign card at hotels, shops, and supermarkets nationwide.

Yet, when it comes to small cafes and tavernas (especially in small places), you’ll need to ask beforehand if their POS is working and if they accept payment by card.

The most widely accepted cards are MasterCard and VISA.

You might have some trouble using a Diners Club or American Express credit card in certain places, as these mean a higher commission for local businesses.

According to local legislation, to use a credit card, you’ll have to have a chip-and-PIN card. If you don’t have one, you can request a PIN code from your bank a few weeks before leaving home.

When using a credit card, you can expect to pay a fee of about 3% (*read below) for every transaction to cover currency exchange.

In general, we’d suggest using a credit card for any purchases and payments and using a debit card for withdrawing cash – the credit card payments are not processed immediately, giving you time to dispute a transaction if needed.

We also strongly recommend getting in touch with your bank before leaving to inform them that you are traveling and to learn about their transaction and currency exchange fees and withdrawal limits to avoid having to worry about hidden fees while traveling.

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Contactless Payments

If you are using a contactless card, you will have no problem making contactless transactions throughout Greece.

Keep in mind, however, that there is a daily limit of €50 for contactless transactions. If you exceed this limit, you must insert your card into a POS and provide your PIN number.

Banks in Greece

There are several major banks in Greece. Most notably:

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

You can find branches of these banks in the city centers of all major cities. In Athens, you will find both bank branches and ATMs all over the city center in all the popular areas.

Banks are open from 8 am to 2 pm Monday to Friday, except on public holidays.

Can you open a bank account in Greece?

If you plan to visit Greece for a short vacation, you won’t be able -and definitely won’t need- to open a local bank account.

On the other hand, if you plan to spend a long time in Greece as a staycation or as a digital nomad, setting up a bank account might be preferable.

Using Traveler’s Checks (or Traveler’s Cheques)

Even though using credit and debit cards is quickly becoming the standard way of paying for international travel, some people still prefer using traveler’s checks.

Keep in mind that you will probably be able to use these checks in the tourist areas of Athens but if you try using one in an area that is not frequented by tourists or any place other than Athens you will find that most locals have no idea what they are.

If you are carrying traveler’s checks on your trip, we strongly advise that you exchange them for cash at a local bank. If you eventually use one, ensure you have your passport with you.

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Using Personal Checks

Nowadays, the use of personal checks is very rare in Greece. You won’t be able to use personal checks at restaurants, hotels, or shops (except for rare occasions) or even exchange them for cash at a local bank.

Cost of Living

For you to be able to manage your budget for a trip to Athens or Greece, in general, more efficiently (and to have an idea of how much cash you’ll need to be carrying around with you), it’s essential that you have a general feel of how much things cost.

Below, you’ll find some indicative prices for everyday products and services.

• Single ticket for public transport (valid for all public means of transportation): €1.20
• Coffee at a cafe: €3.5- €5
• Souvlaki from €2.50
• Sandwich from €3.50
• Cinema tickets: €7-€10
• Theatre tickets: €25-€50
• 1/5 litre bottle of water: €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

Frequently Asked Questions Regarding Money in Greece

We hope that this guide has provided all you need to know about money in Greece and that you will have no trouble managing your budget while traveling throughout the country.

Make sure that you prepare accordingly before leaving home and rest assured that there will be no unpleasant surprises waiting for you on your trip.