Money

Although costs have risen since Greece switched to the euro currency in 2002, the country will seem reasonably priced to travelers from the United States and Great Britain. Popular tourist resorts (including Mykonos, Santorini, and some of the other islands) and Athens are more expensive than elsewhere, though you can find bargains. Though restaurant prices have increased in recent years, you will still be pleasantly surprised at how affordable it is to dine out here; if you're not, you've probably chosen an overpriced restaurant. Hotels are generally moderately priced, even in the major cities.

Other typical costs: soft drink (can) €1, in a café €2; spinach pie, €1.80; souvlaki, €2.20; local bus, €1.30; foreign newspaper, €3–€5.30.

Prices throughout this guide are given for adults. Discounts are almost always available for children, students, and senior citizens.

ATMs and Banks

Your own bank will probably charge a fee for using ATMs abroad; the foreign bank you use may also charge a fee. Nevertheless, you'll usually get a better rate of exchange at an ATM than you will at a currency-exchange office or even when changing money in a bank. Not only are ATMs convenient, but extracting funds as you need them is a significantly safer option than carrying around a large amount of cash for your entire trip. However, it's normally a bad idea to use your debit card to make purchases abroad; if there's any kind of fraud or problem, that money is gone from your bank account until you can contact the bank and dispute the transaction. Save your debit card for cash withdrawals, and use a credit card for purchases.

PIN numbers with more than four digits are not recognized at ATMs in Greece. If yours has five or more, remember to change it before you leave. Letters do not generally appear on Greek ATM keypads.

ATMs are widely available throughout the country. Virtually all banks, including the National Bank of Greece (known as Ethniki), as well as many post offices, have machines that dispense money to Cirrus or Plus cardholders. ATMs at Greek post offices (Hellenic Post) often have the most favorable exchange rates for withdrawals. You may find bank-sponsored ATMs at harbors and in airports as well. Other systems accepted include Visa, MasterCard, and, less often, American Express, Diners Club, and Eurocard. The farther away from larger towns you go, the less likely you are to encounter card machines and ATMs, so make sure you always carry some cash with you, particularly when traveling to smaller islands or rural parts of the mainland. The word for PIN is pronounced "peen," and ATMs are called Ei Ti Em after the letters, or just to mihanima, "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. For most machines, the minimum amount dispensed is €20. Sometimes an ATM may refuse to "read" your card. Don't panic; it's probably the machine. Try another bank.

At some ATMs in Greece you may not have a choice of drawing from a specific account. If you have linked savings and checking accounts, make sure there's money in both before you depart.

Credit Cards

It's a good idea to inform your credit-card company before you travel, especially if you don't travel internationally very often. Otherwise, the credit-card company might put a hold on your card owing to unusual activity—not a good thing to happen halfway through your trip. Record all your credit-card numbers—as well as the phone numbers to call if your cards are lost or stolen—in a safe place, so you're prepared should something go wrong.

Most credit-card transactions in Europe now require a chip-and-PIN or chip-and-signature card, and most credit cards in the United States now have these; if not, you can sometimes get a PIN from your bank to make transactions abroad easier. If you plan to use your credit card for cash advances from an ATM (which we strongly advise against), you'll certainly need to apply for a PIN at least two weeks before your trip. Some credit-card companies and the banks that issue them add substantial percentages to all foreign transactions, whether they're in a foreign currency or not. Check on these fees before leaving home, so there won't be any surprises when you get the bill.

Before you charge something, ask the merchant whether or not he or she plans to do a dynamic currency conversion (DCC). In such a transaction the credit-card processor (shop, restaurant, or hotel, not Visa or MasterCard) converts the currency from euros to dollars. It's an expensive transaction since in most cases you'll pay the merchant an additional 3% fee for this service on top of any credit-card company and issuing-bank foreign-transaction surcharges.

It's always safer to use a credit card for purchases while traveling. A credit card allows you to delay payment and gives you certain rights as a consumer, including the right to dispute a fraudulent charge before you have to make a payment on your account and a limit of $50 for fraudulent charges to a lost or stolen card (provided you report the loss as soon as you discover it). A debit card deducts funds directly from your checking account and helps you stay within your budget, but you may not receive an automatic credit if you dispute a charge. You will almost always need a credit card to rent a car.

Shop owners and many hotels in Greece often give you a lower price if you pay with cash rather than credit, because they want to avoid the credit-card bank fees.

Currency and Exchange

Greece uses the euro. Under the euro system, there are eight coins: 1 and 2 euros, plus 1, 2, 5, 10, 20, and 50 euro cents. Euros are pronounced "evros" in Greek; cents are known as "lepta." All coins have the euro value on one side; the other side has each country's unique national symbol. Greece's images range from triremes to a depiction of the mythological Europa being abducted by Zeus, who is in the form of a bull. Bills (banknotes) come in six denominations: 5, 10, 20, 50, 100, and 200 euros. Bills are the same for all EU countries.

Off Syntagma Square in Athens, the National Bank of Greece, Alpha Bank, and Pireos Bank have automated machines that change your foreign currency into euros. When you shop, remember that it's always easier to bargain on prices when paying in cash instead of by credit card.

If you use an exchange service, good options are American Express and OneXchange (formerly Eurochange). Watch daily fluctuations and shop around. Daily exchange rates are prominently displayed in banks and you can find current rates online at such sites as XE www.xe.com. In Athens, Syntagma Square is the best place to look. In some tourist resorts you might be able to change money at the post office, where commissions may be lower than at banks. For peace of mind, you may want to get a bit of local currency before you leave home, though it's probably easier and less expensive to use airport ATMs upon arrival.

Even if a currency-exchange booth has a sign promising no commission, rest assured that there's some kind of substantial, hidden fee that can be as much as 8%, often in the form of a bad rate. And as for rates, you will always get a better exchange rate for euros at an ATM .