Planning your trip to Corfu and wondering about money matters? This comprehensive guide answers all your questions about handling money during your stay on this beautiful Greek island.
The euro (€) has been Corfu’s official currency since Greece joined the Eurozone on January 1st, 2002. For visitors from the 27 Eurozone countries, this means seamless transactions without currency exchange hassles – you’ll use the same euros as you do at home.
Corfu welcomes a diverse range of international travellers, with British tourists being particularly numerous among its visitors. For these non-Eurozone visitors, managing currency is an important part of trip planning.
When it comes to payments, Corfu has modernised significantly in recent years. Thanks to new legislation requiring businesses to offer card payment facilities, most establishments – including restaurants, shops, and even taxis – now accept credit and debit cards. This has made transactions much more convenient for visitors, though it’s still wise to carry some cash for smaller purchases or remote locations.
Should I Carry Cash in Corfu?
While Corfu is increasingly card-friendly, carrying some cash is highly recommended. Here’s why:
- Many smaller tavernas, local shops, and taxis prefer or only accept cash
- Some businesses may have card payment minimums
- You’ll need cash for local markets, street vendors, and small purchases
- Remote beaches and smaller villages might have limited card payment facilities
Pro Tip: Always keep at least €50-100 in cash for unexpected situations or places that don’t accept cards.
What Payment Methods are Accepted in Corfu?
Corfu accepts various payment methods:
- Cash: Euros are the official currency
- Credit/Debit Cards: Widely accepted in hotels, restaurants, and larger shops
Visa and Mastercard are most common While you have a hard time finding establishments that accept American Express. - Mobile Payments: Most Places will accept Apple Pay and Google Pay
- ATMs: Readily available in tourist areas and main towns
Smart Money Solutions: Digital Banking Cards
Modern digital banking solutions like Revolut offer significant advantages for travelers:
- Real-time exchange rates: Often better than traditional banks
- Multi-currency accounts: Hold and spend in euros without conversion fees
- Instant spending notifications: Better security and budget tracking
- Free ATM withdrawals: Up to certain monthly limits
- Easy top-up: Add money instantly from your home bank account
Recommended: Set up a digital banking card before your trip for better exchange rates and easier money management.
Money-Saving Tips for Corfu
- Book accommodations in advance for better rates
- Eat at local tavernas away from tourist hotspots
- Use public transport instead of taxis when possible
- Visit during shoulder season (May or September) for better prices
- Look for accommodation with kitchen facilities to save on meals
Important Safety Tips:
- Don’t carry large amounts of cash
- Use ATMs attached to banks rather than standalone machines
- Keep emergency cash separate from your daily spending money
- Always inform your bank about your travel plans
Frequently Asked Questions
Can I use my home currency in Corfu?
No, only Euros are accepted. Exchange your money before travel or use ATMs upon arrival.
Are there many ATMs in Corfu?
Yes, ATMs are widely available in tourist areas, towns, and most villages. However, remote areas might have limited access.
Should I exchange money before travelling?
It’s recommended to arrive with some euros, but the best rates are usually found using local ATMs with a low-fee card.
Do restaurants add service charges?
Service is usually included, but tipping 5-10% is appreciated for good service.
Is haggling acceptable?
Haggling is generally not practiced in shops but might be possible in markets for non-food items.
Final Advice: The best strategy is to use a combination of payment methods: some cash for small purchases and local establishments, and a good travel card for larger expenses and backup.
Should I Carry Cash To Corfu?
Card are now widely accepted in Corfu. A few years ago a new law came into force where businesses should be able to accept cards. Bringing some cash is a good idea for small purchases, local markets, and places that might not accept credit/debit cards like street vendors, transport etc. It’s always useful to have some local currency on hand just for those occasions.
What Debit Card Should I take to Corfu?
Most businesses in Corfe have a POS accepting Debi Cards and Credit Cards for payments. But are there some better than others?
The most widely accepted cards by businesses in Corfu are MasterCard and VISA. American Express and Diners Club are not accepted by many businesses and establishments in Corfu. The main reasons is that they may not have the infrastructure to accept these less common card networks. Also American Express and Diners Club tend to charge higher merchant fees to businesses compared to Visa and Mastercard. So many merchants in Corfu choose not to accept these cards to avoid higher transaction costs, especially if they do not frequently receive customers using them.
Another popular option for traveling is Revolut a digital banking app and prepaid debit card. It allows customers to hold and manage multiple currencies within a single account, making it an ideal choice for international travelers.
What is Revolut?
- Foreign Exchange Rates: Revolut offers interbank exchange rates for many major currencies, which can be more favourable than the rates provided by traditional banks or currency exchange offices.
- No Foreign Transaction Fees: Revolut typically does not charge foreign transaction fees when you use your Revolut card for purchases in a foreign currency.
- Multi-Currency Wallet: With Revolut, you can hold and exchange multiple currencies within the app, making it convenient for international travel to different countries.
- Real-time Spending Notifications: The app provides real-time notifications for transactions, giving you better control over your spending and security.
- Security Features: Revolut includes security features such as card freezing, location-based security, and the ability to disable features like contactless payments or online transactions temporarily.
- Budgeting Tools: The app offers various budgeting features, allowing you to set spending limits, categorize expenses, and monitor your travel expenditures.
- Additional Services: Depending on the plan you choose, Revolut may offer additional benefits, such as travel insurance, lounge access, and priority customer support.
Revolut is a digital banking app and prepaid debit card that has revolutionized the way people handle their finances, both domestically and internationally. Founded in 2015, this UK-based fintech company offers users a range of financial services, including spending, transferring, and exchanging money at interbank rates. Moreover, Revolut allows customers to hold and manage multiple currencies within a single account, making it a popular choice for international travelers.
Seamless Currency Exchange
One of the primary advantages of the Revolut card when in Greece is its seamless currency exchange capabilities. Rather than dealing with the hassle of carrying cash or dealing with unfavorable exchange rates at local banks or currency exchange offices, travelers can conveniently convert their money into euros through the Revolut app. The app uses real-time interbank rates, ensuring you get the best possible rates without hidden fees or surcharges.
Instant Access to Multiple Currencies
Greece, a country rich in history and culture, offers travelers diverse experiences, from the picturesque islands to the ancient ruins of Athens. With the Revolut card, you can preload your account with various currencies, including euros, British pounds, US dollars, and many others. This feature lets you enjoy your vacation without constantly worrying about converting currencies, allowing you to make transactions in the local currency wherever you go.
Budget Control and Spending Insights
Vacations can quickly lead to overspending, especially when you’re immersed in the beauty of Greece. To stay on track and avoid any financial mishaps, the Revolut app offers comprehensive spending insights. You can monitor your expenses in real-time, set budget limits, and receive instant notifications after each transaction. These features help you stick to your budget while ensuring that you can indulge in the experiences that matter most.
Security and Safety
Traveling to a foreign country often raises concerns about security and safety. The Revolut card boasts robust security measures, including the ability to freeze and unfreeze your card instantly via the app in case of loss or theft. Additionally, the card doesn’t display your card number, CVV, or expiration date, further safeguarding your financial information. Plus, every transaction is authenticated with biometric recognition or a PIN, adding an extra layer of protection.
No Hidden Fees
Traditional banks and currency exchange services often come with hidden fees and commissions, leaving travelers with less money to spend on experiences. Revolut, on the other hand, is transparent about its fees. While certain transactions may incur nominal charges (such as ATM withdrawals above a certain limit or currency exchange during weekends), the app clearly displays these fees before processing any transaction, ensuring you’re aware of the costs involved.