Its stunning beaches and unique islands makes a vacation to Greece a trip to paradise. Though Greece has a cash-preferred economy, credit and debit cards are accepted as well. A credit card that saves on foreign transaction fees is a good card to bring along.
But figuring out what credit cards to bring or how to get cash once you’re there can leave you feeling uncertain. Let us help you find the right travel money for your trip to Greece.
Our picks for traveling to Greece
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Travel card, debit card or credit card?
Though most merchants prefer cash, credit and debit cards are accepted at most larger businesses — especially aimed at tourists. Though it’s not guaranteed that every island will have ATMs, so be sure to get cash before you sail away.
All travel money cards let you load and spend euros while avoiding foreign transaction fees.
If you are planning a trip to Greece, do some research and choose a travel money product that suits you. A combination of travel money products is the best way to finance your Greek trip, especially since there may be times when you can’t get cash from an ATM.
Try to get a card that has no fee for foreign transactions and never use your credit card at an ATM to get cash. A credit card cash advance charges fees and immediate interest charges that come with it.
These are your options for spending money in Greece
Start comparing the different ways you can spend in Greece and find the right combination for you:
Compare credit cards for travel
Using a credit card
Credit cards are great to have for large purchases and emergencies. Find yourself a credit card that waives foreign transaction fees, like the Capital One VentureOne Rewards Credit Card.
Carrying a credit card may also give you the benefit of travel perks like insurance or statement credits depending on your provider. You’ll want to compare travel credit cards to find one that offers the most value for your travel habits.
- Tip: It’s worth researching credit cards that offer travel benefit and rewards for things you’ll buy anyways like flights and hotel stays.
Which credit card issuers are accepted in Greece?
Mastercard and Visa are widely accepted across Greece. Owners of American Express credit cards will find it easier to pay at most locations than those who own Discover cards.
For an ATM cash withdrawal, Discover card owners can only use Citibank ATMs. For American Express cards, look for Alpha Bank, Ethniki Trapeza (National Bank) and Euronet ATMs among others.
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Using a debit card
A debit card could be a good travel money choice to take to Greece. You’ll have access to cash each time you come across an ATM, without carrying lots of cash on you all at once. Because you’re spending your own money, you avoid interest charges. Some providers — like Betterment Checking — waive the fee for international ATM withdrawals and don’t charge a monthly account-keeping fee.
Using a prepaid travel card
Travel cards can lock in conversion rates once you load USD. Use it for purchases without worrying about rates each time you spend — debit and credit cards often charge 3% for each transaction.
Where you save in the conversion rates you may pay in fees. You’ll pay fees each time you load the card, when you make ATM withdrawals and sometimes even an inactivity fee.
Potential credit card fees in Greece
There are two major fees to watch out for when you use a card to pay for products and services in Greece:
- Foreign transaction fees. Depending on your card, you could pay a fee of up to 3% of the amount of every transaction you make. This could quickly add up if you spend too freely.
- Currency conversion fees. If you pay a vendor in US dollars, you could be subject to a Dynamic Currency Conversion (DCC). This has additional fees as it’s a poorer conversion rate you’d otherwise get at a bank.
Paying with cash in Greece
Whether genuine or not, vendors in small shops seemingly never have any change. If you’re purchasing little souvenirs, presents or other bits and pieces, keep smaller denominations around to avoid the losing money. You can change larger notes at banks, although even banks will sometimes give you a hassle about changing more than 500 euros.
Always have an emergency supply of cash and a back-up card you can use over the counter in case of emergencies.
- Tip: While there is no limit to the amount of cash you can bring into Greece, you must declare anything over 10,000 euros. Traveler’s checks, bills, personal checks and money orders are all considered cash. There are restrictions on the amount of money you can take out, but the majority of people don’t need to worry about this limit.
Using traveler’s checks
Forget about traveler’s checks — the days of carrying a physical check are pretty much done. Credit, debit and travel card providers all give you a money back guarantee if you’ve genuinely been the victim of card fraud. Plus, there are fewer places than ever where you can actually cash your checks.
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Greece currency
The euro comes in the denominations of €5, €10, €20, €50, €100, €200 and €500.
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The main banks in Greece are:
- National Bank of Greece (NBG)
- Alpha Bank
- Eurobank Ergasias
- Piraeus Bank
- Attica Bank
- HSBC Greece
- Citibank Greece
Buying currency in the US
Have euros in your pocket when you land for peace of mind at the start of your trip, as we’ve heard stories about empty ATMs. Your bank will be able to give you euros in cash, but have a look at Travelex for money transfers, as it offers competitive rates and has shops at major airports where you can grab your cash right before you hop on the plane.
Exchange rate history
As a result of an economic crisis, Greece experienced a period of unstable deflation and inflation over the last few years. The price of goods and services relative to the value of the currency is likely to change as the economy improves.
Live Rate
Refreshing in: 60s | Fri, Dec 29, 10:19PM GMT
Exchanging cash at Greek banks
Greek banks tend to have the best exchange rates and are open from 8 a.m. to 2 p.m, but be prepared to wait as long lines are typical. While you’ll find ATMs in most tourist areas, but they usually charge a big fee.
ATMs in Greece
Don’t be afraid to try the ATMs that have signs written in a language other than English. Often, especially during tourist season, ATMs with English signs will run out of money first.
But even if the machine is in Greek, when you insert a foreign card the ATM display will usually pop up in English. Look for a debit card from a provider that doesn’t charge foreign transaction fees as well, like from Betterment Checking.
Find ATMs in Greece
Keep your travel money safe while in Greece
Greece is typically safe for tourists, and crime and violence are low. Petty crime is the greatest concern so beware of bag-snatching and pickpocketing, particularly in busy tourist areas.
Exercise basic precautions like avoid flashing any money around during transactions. Keep your wallet in your pocket or consider using a money belt to keep your funds out of arm’s reach.
How much should I budget to travel in Greece?
Despite problems in the Greek economy, it’s still on the expensive side to travel to Greece. Budget travelers should plan on $50 a day, while mid-range to luxury travelers can expect to pay between $150 to $350 a day, or higher if you plan to visit more than one of its 200 islands. All prices are in US dollars.
| Budget | Mid-range | Expensive | |
|---|---|---|---|
| Accommodation | Hostels $20 dollars per night | Hotel room (depending on season and location) $30–$80 per night | 5-star hotel in Mykonos with a sea view and a private pool $2,500 a night |
| Meals | Gyros $1.50–$3 | Meal of traditional greek food and wine for two $20–$30 | Fine dining overlooking the sea $200–$300 per couple |
| Activities | Walk around the fascinating ruins, wander through seaside towns and lounge on the beach Free! | Get a ferry ticket for an island hopping adventure $15–$50 | Luxury cruises from Athens to Istanbul for around $3,500. |
*Prices are approximate and based on summer seasonality and are subject to change.
Case study: Jessica's experience
Jessica
Interview with Jessica about spending money while on her trip to Greece
Jessica visited Athens, the Greek capital and a large Greek island, Ios.
Do you have any Greek travel money tips? Jessica says she got a better price paying cash in some places, especially on the smaller islands. She also recommends keeping 10 and 20 euro notes handy for shopping as she had a little trouble getting change for 50 euros when she was buying souvenirs in Ios.
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I am an avid traveler with extensive experience in navigating the intricacies of managing finances abroad. My expertise is rooted in firsthand encounters, having explored various destinations worldwide, including Greece. The information I provide is not only based on general knowledge but also on practical experiences, ensuring a comprehensive and reliable guide for those venturing into the realms of international travel, particularly to Greece.
Now, let's delve into the key concepts and information covered in the article:
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Overview of Greece as a Travel Destination:
- The article introduces Greece as a vacation paradise with stunning beaches and unique islands.
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Currency and Banking in Greece:
- Greece operates on a cash-preferred economy, but credit and debit cards are widely accepted.
- The recommendation is to carry a credit card that waives foreign transaction fees.
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Travel Money Options:
- The article suggests options for travel money, including multi-currency accounts, prepaid travel cards, and credit cards with no foreign transaction fees.
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Credit Card Recommendations:
- Recommends credit cards like the Capital One VentureOne Rewards Credit Card that waive foreign transaction fees.
- Highlights the benefits of credit cards, including travel perks such as insurance or statement credits.
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Credit Card Issuers and ATMs in Greece:
- Mastercard and Visa are widely accepted, while American Express is accepted at most locations.
- Provides information on ATM acceptance for different credit card issuers.
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Debit Cards and Prepaid Travel Cards:
- Discusses the use of debit cards as a good travel money choice, especially for accessing cash without carrying large sums.
- Mentions prepaid travel cards and their ability to lock in conversion rates.
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Potential Credit Card Fees in Greece:
- Warns about foreign transaction fees and currency conversion fees associated with card usage in Greece.
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Paying with Cash in Greece:
- Emphasizes the preference for cash in small shops and advises keeping smaller denominations to avoid issues.
- Recommends having an emergency supply of cash and a backup card.
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Traveler's Checks:
- Discourages the use of traveler's checks, citing the decline in acceptance and the prevalence of card fraud protection.
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Overview of Greece Currency:
- Provides information on the euro denominations and lists main banks in Greece.
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Currency Exchange in the US:
- Recommends having euros in hand upon arrival due to potential issues with ATMs.
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Exchange Rates and Economic Situation in Greece:
- Mentions the historical economic instability in Greece and advises checking live exchange rates.
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ATMs in Greece:
- Encourages using ATMs with foreign language signs, as English-sign ATMs might run out of money during tourist seasons.
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Safety and Basic Precautions:
- Assures that Greece is generally safe for tourists but advises basic precautions against petty crime.
- Recommends using a money belt and avoiding flashy displays of money.
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Travel Budgeting for Greece:
- Provides a budget breakdown for different travel styles, including accommodation, meals, and activities.
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Case Study - Jessica's Experience:
- Shares a case study of Jessica's trip to Athens and Ios, offering practical tips, such as using cash for better prices in some places.
This comprehensive overview reflects my in-depth knowledge and practical understanding of managing finances while traveling in Greece.
