Lyla Lindsey
If you're planning a trip to Greece, it's important to consider the best way to exchange your money. The currency in Greece is the euro, and there are a few options for how and where you can exchange your money. You can exchange a small amount of money at most of the country's airports, but the rates may not be favourable, and there may be additional fees. Exchanging currency in large Greek cities will be easy, but it may be more challenging and expensive in rural areas and smaller islands. In Australia, you can find competitive exchange rates in capital cities, and it may be more convenient to exchange your money before you arrive in Greece. However, it's worth shopping around for the best exchange rate and considering the convenience of having local currency when you arrive in Greece.
| Characteristics | Values |
|---|---|
| Currency in Australia | Australian Dollars (AUD) |
| Currency in Greece | Euros (EUR) |
| Currency exchange in Australia | Available at foreign exchange stores and money exchange kiosks in the city or CBD in capital cities like Sydney, Melbourne, Brisbane, Gold Coast, Canberra, Adelaide, Tasmania, and Perth |
| Currency exchange in Greece | Available at the airport, hotels, banks, and currency exchange offices |
| Recommended places to exchange money | Currency exchange offices in Australia, National Bank of Greece, and ATMs attached to a bank |
| Least recommended places to exchange money | Airports, hotels, Euronet ATMs, currency exchange or generic ATMs in a store or bar |
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What You'll Learn
Currency exchange in Australia before travelling to Greece
If you're travelling to Greece, you'll need to exchange your Australian dollars (AUD) for euros (EUR), the official currency of Greece. It's better to convert your currency in Australia, as you'll typically get a better rate than at tourist exchange counters in Greece.
Converting your money in Australia before your trip means you'll know exactly how much you have to spend, making budgeting easier. You'll also avoid the hassle of searching for a currency exchange upon arrival, giving you more time to explore Greece.
When exchanging your currency, it's important to shop around for a good exchange rate and be aware of any hidden fees. Crown Currency Exchange is Australia's largest and leading foreign exchange provider, with over 60 stores across the country where you can collect your foreign currency.
If you're planning on backpacking in Greece, it's recommended to budget around 80 EUR per day. This budget assumes you'll be staying in a hostel, eating cheaply, and cooking some of your meals. You'll also need to limit your drinking and stick to free activities like hiking or beach relaxation. Keep in mind that visiting Greek islands or travelling during peak season will likely increase your expenses.
In Greece, cash is still a popular payment method, and it's always good to have some euros on hand. However, credit cards are becoming increasingly accepted, especially in larger cities. Visa and Mastercard are widely accepted, but some restaurants and smaller hotels may not take credit cards. It's also important to note that Greece has extremely limited banking hours, so plan your cash withdrawals accordingly.
When given the choice to pay in euros or your home currency, always choose the local currency (euros) to avoid expensive markups. Additionally, if using your debit card, inform your bank about your travel plans to avoid any potential issues with overseas transactions.
By following these tips and exchanging your currency in Australia before your trip, you'll be well-prepared for a smooth and enjoyable adventure in Greece.
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Using a card in Greece
Greece's currency is the euro, which is part of the eurozone. The drachma was the primary currency of Greece until 2001 or 2002, when it was replaced by the euro.
Card use is becoming increasingly popular in Greece, but it is not yet ubiquitous. Over 70% of people in Greece still use cash at points of sale, especially in small towns and villages. However, as of 1 April 2024, card terminals will become mandatory in many sectors where they previously weren't, including kiosks, open-air markets, and taxis. This means that businesses in Greece will be legally obliged to have card terminals.
It is still convenient to keep some cash on you, as card terminals don't always work, and you may not find one if you're travelling to the Greek countryside or islands. Some small businesses and artists may still prefer or only accept cash payments. Cash is especially important if you plan on visiting smaller towns, villages, and Greek islands, where there aren't as many tourists. Some Greek beaches charge a fee for using their chairs and umbrellas.
Contactless cards are accepted in most places, as are Apple Pay and Google Pay. Chip-and-PIN cards are standard in Greece, so cardholders will need to authenticate their transactions with a personal identification number (PIN) at checkout. Most payment terminals now accept both chip-and-PIN and chip-and-signature cards.
If you're using a UK debit card, make sure to tell your bank you'll be away, in case your overseas transactions are flagged as fraud. Check whether your bank charges any foreign transaction fees, as some card issuers add foreign transaction fees (usually 1% to 3%) to your purchases in Greece. Some card issuers also pass a currency conversion fee on to their customers. If so, consider an alternative such as the Wise card, which can be used in Greece and has no foreign transaction fees.
If given the choice to pay in the local currency (EUR) or your home currency (GBP), always choose the local currency. Otherwise, the payment operator gets to choose the exchange rate, which will usually have an expensive mark-up built in.
Both MasterCard and Visa are widely recognised in Greece, and you should be able to use any UK-issued credit card on your Greek holiday. If you have a rewards credit card, you could be earning rewards with each eligible purchase in Greece. Some credit cards also provide benefits that are particularly useful for travellers, such as travel protections and airport lounge access.
It's easy and convenient to use a credit card in Greece, especially in the more popular destinations. However, there may be fees associated with using some credit cards overseas. Greek ATMs accept international cards, so you'll be able to use your card without issue. Make sure you only use official bank ATMs, as there have been cases of different cash withdrawal companies charging high exchange rates. Greek banks do not charge for ATM use, but there may be limits on the amount you can withdraw daily.
If you're paying cash for a small bill, try not to use big denominations, as the recipient might not have change. When using an ATM abroad, always withdraw cash in the local currency to avoid paying a higher exchange rate.
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Exchanging money at the airport
However, airport currency exchange counters generally offer unfavourable exchange rates and may charge additional fees. Ordering currency from your bank before travelling is often a better option, as banks typically provide better exchange rates than airports. Additionally, using ATMs that are attached to a bank while abroad can provide decent exchange rates and eliminate out-of-network ATM fees.
When exchanging money at the airport, it is important to consider the balance between convenience and cost. While exchanging currency at the airport is convenient, it may not always be the most cost-effective option. It is recommended to compare exchange rates and fees before deciding where to exchange money.
In conclusion, while exchanging money at the airport offers convenience and accessibility, it may not provide the best exchange rates. It is advisable to consider alternative options, such as ordering currency from your bank or using ATMs attached to banks while abroad, to potentially get better exchange rates and avoid additional fees.
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Currency exchange in Greece
The currency used in Greece is the euro, which was adopted in 2001 or 2002, replacing the drachma. Euros can be obtained at currency exchange offices throughout the world, including in Australia, and at most of the country's airports. However, it is recommended to only exchange a small amount at the airport, as the rates are often unfavourable and may include additional fees.
If you are exchanging currency in Australia before your trip, it is best to shop around for a good exchange rate. Crown Currency Exchange claims to be Australia's largest and leading foreign exchange provider, with over 20 years of experience and 60 stores across the country.
If you are exchanging currency in Greece, it is generally easier to find good exchange rates in large cities than in rural areas and smaller islands. It is also worth noting that banks in Greece have extremely limited opening hours. ATMs are widely available, but be mindful of any fees charged by your bank for foreign transactions and ATM withdrawals. It is recommended to use an ATM attached to an actual bank, rather than a currency exchange or generic ATM in a store or bar.
When paying for goods and services in Greece, it is generally best to pay in the local currency (EUR) rather than your home currency, as this allows you to choose the exchange rate. Contactless cards such as Visa and Mastercard are widely accepted in larger cities and tourist areas, but cash may be the only acceptable form of payment in remote areas.
Finally, tipping is commonplace in Greece, and it is considered a meaningful gesture to leave a small amount (around 1-2 euros or 50 cents) when dining out or getting a coffee.
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Budgeting for Greece
Greece is a popular tourist destination known for its rich history, stunning beaches, and mouth-watering cuisine. Planning a trip to Greece can be overwhelming, especially when it comes to budgeting. Here is a comprehensive guide to help you plan your trip without breaking the bank.
Currency Exchange:
It is generally recommended to exchange your currency before arriving in Greece. Currency exchange rates at airports and tourist exchange counters tend to be less favourable and may charge additional fees. By exchanging your money in Australia, you can often get a better rate and have peace of mind knowing exactly how much you have to spend. This makes budgeting easier and allows you to start your trip without the hassle of searching for a currency exchange.
Transportation:
Greece offers various transportation options, and planning ahead can help you stay within your budget. Transportation costs can add up quickly, especially if you rely on car rentals or taxis. Here are some tips to consider:
- Opt for public transportation whenever possible. Greece has an impressive metro system in Athens, and buses are also widely available.
- Utilise ferries for island hopping. Ferry rides are relatively affordable, with short rides (1-2 hours) costing around 5-20 euros and longer rides (3-5 hours) ranging from 15-40 euros.
- Consider booking flights to Greece in advance to take advantage of better deals. High season (June-August) is typically more expensive than low season (November-March).
Accommodation:
Greece caters to different budget ranges when it comes to accommodation. From budget-friendly options to luxurious stays, you can find something that suits your preferences and financial plan. Here are some suggestions:
- Hostels: If you're a budget-conscious traveller, consider staying in hostels, which offer dormitory-style accommodations with shared facilities. Hostels in Greece are abundant, especially in Athens, Santorini, and Chania.
- Budget hotels: For a slight increase in price, you can opt for budget hotels that provide more privacy and amenities than hostels.
- Mid-range hotels: If you're looking for additional comfort and amenities, mid-range hotels offer a balance between affordability and luxury. Prices typically start from €50-€150 per night for a decent, clean, mid-range property in a central location.
- Luxury hotels: For those seeking opulent accommodations, Greece boasts stylish boutique hotels and sprawling resorts with stunning views, swimming pools, spas, and fine dining experiences.
Food and Dining:
Greece is renowned for its delicious cuisine, and dining out is an essential part of the cultural experience. Here are some tips to navigate food costs while travelling in Greece:
- Tavernas: Visit traditional Greek tavernas, which offer hearty meals at reasonable prices. You can expect to find a variety of dishes, including fresh seafood, grilled meats, and vegetarian options.
- Local markets: Explore local markets to purchase fresh produce, cheeses, olives, and other ingredients for cooking your meals. This option allows you to save money while still enjoying Greek culinary delights.
- Street food: If you're on a tight budget, consider indulging in Greece's diverse street food options, such as souvlaki (grilled meat skewers) and gyros (meat cooked on a vertical rotisserie).
- Dining out: When dining out in restaurants, be mindful of tipping expectations. Leaving a small amount, such as 50 cents to a few euros, is customary and appreciated.
Additional Tips:
- Always pay in the local currency (EUR) when given the option. This ensures you avoid unfavourable exchange rates set by payment operators.
- Notify your bank of your travel plans to avoid potential issues with overseas transactions being flagged as fraud.
- Consider alternative payment methods, such as the Wise card, which can be used in Greece without foreign transaction fees.
- Be cautious of exchange scams and choose reputable exchange services.
- When using ATMs, select those attached to actual banks rather than generic or currency exchange ATMs, as these often offer less favourable rates.
Sample Budget:
For backpacking or budget-conscious travellers, a daily budget of 80 EUR per day is suggested. This assumes you'll be staying in hostels, eating cheaply, cooking some meals, limiting alcoholic drinks, and participating in free activities. For mid-range travellers, the average daily budget is around €216, while luxury travellers can expect to spend approximately €535 per day.
Additionally, the average cost of a one-week trip to Greece for one person is about €1,512, including accommodation, food, local transportation, and sightseeing. For two people, the average cost doubles to €3,024. These prices can vary based on travel style, speed, and other factors.
By following these budgeting tips and planning your expenses, you can make the most of your trip to Greece without compromising your financial goals.
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Frequently asked questions
It is generally recommended to exchange your money in Australia before travelling to Greece. This is because you will usually get a better rate in Australia than at tourist exchange counters in Greece. Exchanging your money in Australia means you will know exactly how much money you have to spend, making budgeting easier.
The best exchange rates tend to be in the city or CBD of each capital city. Foreign exchange stores and money exchange kiosks in these areas tend to have better rates than in the suburbs due to increased competition. You can also order your currency online and then pick it up at a store or post office, or get it delivered to your home.
The currency in Greece is the euro.
