Greece is a member of the European Union, and its official currency—from Athens and Thessaloniki to the most remote islands—is the Euro. On this page, you can use a calculator to instantly view the latest exchange rate of the Euro against the Israeli Shekel.
To view the current rate, keep the value ‘1’ in the amount field. Alternatively, if you are planning a vacation budget, you can enter the specific amount you wish to convert. Once the data is entered, our currency converter will perform the necessary calculation for you.
The Euro has been the official currency of Greece since January 1, 2001, when it replaced the historic and mythological Drachma. The transition to the European currency significantly eased tourism in the country, allowing travelers to move freely between Greece and other EU nations without the need for additional currency exchange. Today, the use of the Euro is widespread throughout the country, including in small villages on the islands and in mountainous regions.
The Euro exchange rate is subject to fluctuations in global markets and the European economy. Changes in the global economic situation may affect the value of the currency, which has a direct impact on the budget of any traveler visiting Greece.
Exchange rates play a major role in trip planning. When your home currency strengthens against the Euro, you can enjoy a more affordable vacation in Greece, upgrade your hotels, spend more in tavernas and shops, and get better value for your money.
Transferring Money to Greece
Whether you are planning a long independent trip to Greece, paying a deposit for a villa or yacht rental, or need to transfer money to relatives staying in the country, it is important to know your options. In this guide, we will review the main methods, focusing on costs, speed, and convenience:
International Money Transfer Companies
A popular and cost-effective option is using fintech and international money transfer companies like Wise (formerly TransferWise), Paysend, or Remitly. These companies usually offer distinct advantages:
- Fair Exchange Rates: You will generally receive a rate very close to the mid-market rate, saving you a significant amount of money compared to traditional banks.
- Transparent and Low Fees: Fees are known in advance and are usually significantly lower, making them attractive for both small and large transfers.
- Speed and Convenience: Everything is done digitally via an app or website, and the money usually arrives within a short time (sometimes within minutes or a few hours).
- Availability: Services are available from virtually anywhere, and you can easily transfer money directly to a Greek bank account (IBAN).
- Flexibility: Diverse options such as digital wallets in various currencies and debit cards for use abroad.
Good to Know: Initial identity verification is sometimes required, and customer support is typically available in English.
Banks
A standard bank transfer (SWIFT) through your home bank is the traditional method. While Greece has a developed banking system, international transfers via banks are often the more expensive option. The pros and cons are:
- Sense of Security: Many prefer to make large transfers through a familiar banking institution they are used to working with.
- No Need to Sign Up for a New Service: The action is performed from your existing checking account.
- The Downsides:
- Expensive Exchange Rates: Banks often charge a high conversion margin above the representative rate.
- Double Fees: There may be fees on the sender’s side (in your home country) and on the receiver’s side (in Greece), and sometimes fees from intermediary banks along the way.
- Slowness: An international bank transfer may take several business days for the money to reach its destination.
Credit and Debit Cards
Using your credit or debit card in Greece is the most common way to pay for hotels, restaurants, and tourism services. Most places in Greece accept credit cards, but you should take fees into account:
- Maximum Convenience: No need to handle large amounts of cash; cards are available and useful in almost every tourist business, including on the islands.
- Conversion Fees: Credit card companies usually charge a foreign transaction fee (typically around 2.5%-3%) on every transaction in a foreign currency.
- Important Tip for Greece: Despite the convenience, in rural areas, small tavernas, or remote islands, cash may sometimes be preferred, or payment terminals may not work due to connectivity issues. It is always a good idea to keep some Euros in cash as a backup.