Ethan Riley
If you're planning a trip to the Greek islands, it's important to know how you'll access your money. While cards are widely accepted in Greece, it's still a good idea to have some euros in cash, especially in smaller villages, remote destinations, and less touristy islands. So, are there bank ATMs on the Greek islands?
| Characteristics | Values |
|---|---|
| ATM Availability | ATMs are available in most towns, cities, tourist areas and islands in Greece. However, in rural areas, remote islands and smaller islands, ATMs may be difficult to find. |
| Withdrawal Fees | There is usually a withdrawal fee for using ATMs in Greece, ranging from €1.5 to €4 per transaction. The fee depends on the bank and the ATM operator. |
| Withdrawal Limits | The maximum withdrawal limit per transaction is typically around €600. However, this may vary depending on your bank's daily, weekly or monthly withdrawal restrictions. |
| Currency Conversion | It is recommended to avoid Dynamic Currency Conversion (DCC) and choose to be charged in Euros instead of your home currency to avoid unfavourable exchange rates. |
| Card Acceptance | Debit and credit cards are widely accepted in Greece, including Visa and Mastercard. However, American Express and Discover cards may not be accepted at Greek ATMs. |
| PIN Requirements | Greek ATMs typically require a 4-digit PIN, similar to the UK. Chip and PIN, as well as contactless technology, are widely accepted. |
| Recommended Banks | Piraeus Bank and Alpha Bank have a wide presence throughout Greece, including on the islands. These banks offer competitive exchange rates and lower withdrawal fees compared to other options. |
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What You'll Learn
ATM withdrawal fees
When it comes to ATM withdrawal fees in the Greek islands, there are a few things to keep in mind. Firstly, it's important to note that Greek ATMs typically charge fees when a foreign bank card is used, and these fees can vary depending on the bank or operator. The foreign transaction fee for ATMs in Greece can range from €1.50 to €2.50, with some people reporting fees of up to €4 per withdrawal. These fees are usually flat fees rather than a percentage of the amount withdrawn. Therefore, it might be more economical to withdraw a larger amount less frequently, rather than making multiple small withdrawals and paying a separate fee each time.
It's also worth noting that some Greek banks only offer fee-free ATM withdrawals to their customers with Greek bank accounts. However, it's a good idea to check with your home bank to see if they have any partnerships with banks operating in Greece, as this may allow you to benefit from lower or no withdrawal fees. Additionally, some banks do not charge ATM and foreign transaction fees, so if you travel frequently, switching to one of these banks might be advantageous.
It is recommended to avoid using Euronet ATMs, as they are known for charging higher transaction fees and offering unfavourable exchange rates. Another tip is to always choose to be charged in Euros rather than your home currency, as the Dynamic Currency Conversion (DCC) rate offered by ATMs will almost certainly be less favourable and make the transaction more expensive.
Lastly, while cards are widely accepted in Greece, it's a good idea to have some cash on hand, especially in smaller villages, remote destinations, and some of the smaller islands. The maximum amount you can withdraw from a Greek ATM will depend on your bank and the ATM's limits, but it's typically around €600 per day.
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Foreign transaction fees
When using ATMs in the Greek islands, it's important to be aware of potential foreign transaction fees. These fees can vary depending on the bank and the type of card you're using. Here's what you need to know about foreign transaction fees when using ATMs in the Greek islands:
Dynamic Currency Conversion (DCC)
If you choose to be charged in your home currency, such as British pounds or US dollars, the ATM will use Dynamic Currency Conversion (DCC) to set an exchange rate. This rate is often unfavourable and can make the transaction more expensive. It is recommended to decline currency conversion and choose to be charged in the local currency, which is the Euro in Greece.
Greek ATMs typically charge fees when you use a foreign bank card. These fees can range from €1.50 to €2.50 per transaction, or around €2 to €4 per withdrawal. Some banks may charge a percentage-based fee, such as a 2-3% transaction fee, while others may have a flat fee. It's important to check with your bank about any potential charges before your trip. Additionally, some banks in Greece may offer fee-free ATM withdrawals to their customers, so it's worth asking your home bank about any partnerships or branches in Greece.
Withdrawal Limits and Fees
ATMs in Greece usually have a daily withdrawal limit, which is typically around €600. It's important to note that making multiple small withdrawals can result in paying separate fees for each transaction. Consider your cash needs and the associated fees when deciding on the withdrawal amount.
Card Acceptance and Recommendations
Debit and credit cards are widely accepted in Greece, but it is recommended to have some cash, especially in smaller villages, remote destinations, and on certain islands. American Express and Discover cards may not be accepted at Greek ATMs. Cards like Capital One and certain credit cards do not charge foreign transaction fees, so using these for purchases or withdrawals can help avoid additional costs. It is also suggested to avoid Euronet ATMs due to high transaction fees and unfavourable exchange rates.
Planning and Precautions
When travelling to the Greek islands, it is advisable to plan in advance to locate ATMs. While most tourist areas will have ATMs, it is recommended to carry some cash in case of limited access or ATM malfunctions. Additionally, be cautious of confusing or misleading ATM instructions and always double-check the fees and exchange rates before finalising your transaction.
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Bank partnerships
When travelling to the Greek islands, it is important to be aware of the availability of cash and the potential fees associated with ATM withdrawals. While cards are widely accepted in Greece, it is recommended to have some euros in cash, especially in smaller villages, remote destinations, and on certain islands.
Before your trip, it is advisable to check with your bank about any charges for foreign transactions and ATM withdrawals. Some banks may have partnerships with local banks in Greece, allowing you to use ATMs with reduced or no fees. It is worth inquiring about these partnerships and planning your cash withdrawals accordingly.
Piraeus Bank and Alpha Bank are two trusted Greek banks with a wide network of ATMs across the country, including on the islands. These banks offer competitive conversion rates and relatively lower withdrawal fees compared to other options. Their websites provide English versions and ATM locator tools to make it convenient for travellers.
Additionally, it is generally recommended to avoid using Euronet ATMs, as they are known for charging high transaction fees and providing unfavourable exchange rates. It is also important to decline if the ATM offers to convert the currency for you, as this often results in a less favourable exchange rate. Instead, always choose to be charged in euros to avoid Dynamic Currency Conversion (DCC), which can significantly increase the cost of the transaction.
By planning ahead, checking with your bank, and utilising partnerships where possible, you can optimise your cash withdrawals and minimise fees when visiting the Greek islands.
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ATM locations
When travelling to the Greek islands, it is important to know where to find an ATM and how much it will cost to withdraw cash.
ATMs can be found in most towns, cities, and tourist areas on the Greek islands. However, in rural areas or on smaller, more remote islands, it may be difficult to find an ATM, and it is recommended to carry some euros in cash. For example, in 2019, travellers had to travel from Naousa to Parokikia (the main port city) to withdraw from an ATM on the island of Paros. However, more recently, multiple ATMs are available in Naousa. It is also worth noting that banks in Greece have extremely limited opening hours, usually closing by 2:30 pm Monday through Thursday, by 2:00 pm on Fridays, and remaining closed on weekends.
If you are travelling with foreign currency, make sure your banknotes are clean and crisp. You should be able to cash them at one of the major banks in Greece, but some may be reluctant if you don't have an account there. You should also ensure that the cheque is in euros to avoid high fees.
When using an ATM in Greece, there is usually a withdrawal fee of approximately €1.5 to €2.50 (around $1.60 to $2.15 USD or £1.70 to £3.40 GBP). These fees depend on the bank and the operator. Greek ATMs tend to charge higher fees when using a foreign bank card. It is recommended to avoid using Euronet ATMs, as they are known for high transaction fees and unfavourable exchange rates.
Some sources suggest that Piraeus Bank and Alpha Bank have the widest coverage of ATMs around Greece, including on the islands. These banks offer trusted services with multiple ATM locations, competitive conversion rates, and relatively lower withdrawal fees. Additionally, Piraeus Bank provides English-speaking customer service and an English version of its website.
It is important to check with your home bank about any potential charges for foreign transactions and ATM withdrawals. Some banks may have partnerships with banks operating in Greece, allowing you to use ATMs for cheaper or free withdrawals during your stay. It is also recommended to have a backup method of payment, such as a credit card that does not charge international fees, as card payments are widely accepted in Greece.
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Currency conversion
When using your card in Greece, you may be asked whether you want to pay in your home currency. This is called Dynamic Currency Conversion (DCC). While it may be tempting to choose your home currency, you will likely get a poor exchange rate and pay additional fees. It is always best to choose to pay in Euros, the local currency, to get a better rate.
Before your trip, check with your bank about any potential charges for foreign transactions and cash withdrawals. Some banks may have partnerships with banks in Greece, allowing you to use ATMs for cheaper or even free withdrawals. It is also a good idea to research the different ATM providers in Greece, as some may have high transaction fees and poor exchange rates.
When withdrawing cash from ATMs in Greece, you will likely incur a foreign transaction fee, which can range from €1.50 to €2.50 per transaction. Additionally, Greek ATMs may charge a fee when using a foreign bank card, typically around €2 to €4 per withdrawal. It is worth noting that banks in Greece usually offer fee-free ATM withdrawals only to their customers with a Greek bank account.
To avoid excessive fees, it is recommended to use your debit or credit card for purchases, as they are widely accepted across Greece. However, it is always a good idea to have some cash on hand, especially in smaller villages, remote destinations, and less touristy islands, where card payments may not be widely accepted.
Lastly, if you plan to exchange currency, it is generally easier to do so in large cities. Rural areas and smaller islands may have limited or more expensive options. Remember to carry clean and crisp banknotes, as exchange services may refuse to accept damaged notes.
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Frequently asked questions
Yes, you can find bank ATMs on most Greek islands. However, in rural areas and on smaller, more remote islands, ATMs can be harder to find. It is recommended that you carry some euros in cash when visiting these areas.
Yes, there is usually a withdrawal fee for using ATMs in Greece, which can range from €1.5 to €4 per transaction. Greek banks usually only offer free ATM withdrawals to customers with Greek bank accounts. It is recommended that you check with your bank about any potential charges before travelling.
Piraeus Bank and Alpha Bank have the widest coverage across Greece, with plenty of ATM locations on the mainland and the islands. These banks also offer the best conversion rates and the lowest withdrawal fees.
