Money isn’t the sexiest aspect of travel, but without it you don’t get very far. Get acquainted with Greece’s notes and coins, plus a few other crucial bits of information, and you’ll minimise the chances of awkwardness, theft or abuse.
Although costs have risen astronomically since Greece joined the EU, the country will seem reasonably priced to travelers from the U.S. and Great Britain. Popular tourist resorts (including some of the islands) and the larger cities are markedly more expensive than the countryside. Though the price of eating in a restaurant has increased over the past several years, it often remains a bargain. Hotels are generally moderately priced, and the extra cost of accommodations in a luxury hotel, compared to an average hotel, often seems unwarranted.
Transportation is a good deal in Greece. Bus and train tickets are inexpensive, though renting a car is costly; there are relatively cheap - and slow - ferries to the islands, and express boats and hydrofoils that cost more. If your time is limited, domestic flights are a fair trade-off in cost and time saved, compared with sea and land travel.
Some sample prices: admission to archaeological sites: EUR1.47-EUR5.89; authentic Greek sponge: 6.48; a cup of coffee in a central city cafe: EUR2.35-EUR2.94 (Greek coffee is cheaper); beer: (500 ml) EUR1.32, in a bar EUR2.35-EUR2.94; soft drink: (can) EUR.44, and in a café EUR1.76; spinach pie: EUR.88; souvlaki: EUR1.03; grilled cheese sandwich, tost: EUR2.35; foreign newspaper: EUR1.03-EUR2.21. Admission is free to most museums and archaeological sites on Sunday from November through March. The rest of the year, prices range from EUR1.47 to EUR5.89; admission is substantially reduced for children, students, and senior citizens.
ATMs
ATMs are widely available throughout the country. Virtually all banks, including the National Bank of Greece (known as Ethniki), have machines that dispense money to Cirrus or Plus card holders. You may find bank-sponsored ATMs at harbors and in airports as well. Other systems accepted include Visa, Master Card, American Express, Diner's Club, and Eurocard, but exchange and withdrawal rates vary, so shop around and check fees with your bank before leaving home. For use in Greece, your PIN must be only four digits long. The word for PIN is pronounced "peen" and ATMs are called alpha taf mi, after the letters, or just to mixanima, "the machine." Machines usually let you complete the transaction in English, French, or German, and seldom create problems, except Sunday night, when they sometimes run out of cash. Also, for most machines, the minimum amount dispensed is about EUR30. Sometimes an ATM may refuse to "read" your card. Don't panic, it's probably the machine. Try another bank.
Currency
January 1, 2002, saw the introduction of euro coins and notes. The former local currency, the drachma, ceased to be legal tender at the end of February, 2002. All transactions are now made in euros.
Euro notes come in denominations of EUR500, EUR200, EUR100, EUR50, EUR20, EUR10 and EUR5. The euro is divided into 100 cents, and coins are available as EUR2 and EUR1 and 50, 20, 10, 5, 2, and 1 cents. The euro can be used in 11 other European countries: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain.
Drachma bills were in denominations of 10,000, 5,000, 1,000, and 500. Coins were 100, 50, 20, 10, 5.
Exchanging Money
For the most favorable rates, change money through banks. Although fees charged for ATM transactions may be higher abroad than at home, Cirrus and Plus exchange rates are excellent, because they are based on wholesale rates offered only by major banks. You won't do as well at exchange booths in airports or rail and bus stations, in hotels, in restaurants, or in stores, although you may find their hours more convenient. Off Syntagma in Athens, the National Bank, General Bank, Credit Bank, Ionian Bank, Commercial Bank, and Macedonia-Thrace Bank all have automated machines that change your foreign currency into drachmas.
If you do use an exchange booth, good options are American Express and Eurochange. Watch daily fluctuations and shop around. Daily exchange rates are prominently displayed in banks and listed in the Athens News. In Athens, around Syntagma Square is the best place to look. Those that operate after business hours have lower rates and a higher commission. You can also change money at post offices - located in even the most remote parts of Greece; commissions are lower than banks, starting about EUR2.65 for amounts up to EUR294. To avoid lines at airport exchange booths, get a bit of local currency before you leave home.
Exchange Services
International Currency Express (Phone: 888/278-6628 for orders, www.foreignmoney.com).
Thomas Cook Currency Services (Phone: 800/287-7362 for telephone orders and retail locations, www.us.thomascook.com).
Athens Exchange Services
American Express Travel Related Services (Ermou 2, Syntagma, Phone: 01/324-4975), open weekdays 8:30-4 and Saturday 8:30-1:30.
Eurochange (Karageorgi Servias 2, Syntagma, Phone: 01/331-2462), open 8 AM-11 PM daily; Fillelinon 22 and Kithadineon, near Plaka, Phone: 01/324-3997, open daily 8 AM-10 PM.
Taxes
Taxes are always included in the stated price, unless otherwise noted. The Greek airport tax (EUR10 each way on all flights) is included in your ticket, and the 10.6% hotel tax rate is usually included in the quoted price.
Tipping
How much to tip in Greece, especially at restaurants, is confusing. By law a service charge is figured into the price of a meal (menus sometimes list entrées with and without service, to let you know their net cost - not to imply you have a choice of how much to pay). However, it is customary to leave an 8%-10% tip if the service was satisfactory. During the Christmas and Greek Easter holiday periods, restaurants tack on an obligatory 18% holiday bonus to your bill for the waiters.
The appropriate tip for maid service at your hotel depends on the quality of the service, the length of your stay, and the quality of the hotel. A service charge is included in the price of the room, but you might consider leaving an additional EUR.50 to EUR1 per night in those hotels costing more than EUR65 or so a night. Porters, found only at the more expensive hotels, should get EUR.50 per bag; room-service waiters merit EUR.30 per delivery. If a concierge has been very helpful, you can leave from EUR3 to EUR15. For rest-room attendants EUR.30 is appropriate. People dispensing programs at cinemas also get EUR.30. On cruises, cabin and dining-room stewards get about EUR2 a day; guides receive about the same. For taxis, round up the fare to the nearest EUR.30; during holidays, drivers legally receive a mandatory "gift"; the amount is posted in the cab during applicable days.
