The local currency in Rhodes is the Euro. You can use ATMs to withdraw Euros in Rhodes, or exchange foreign currency when there. This article shows you how!
Money in Rhodes
The Greek island of Rhodes is part of the European Union, and uses the Euro as its currency. You can use Euros anywhere on the island, and ATMs are widely available to withdraw cash in this currency.
If you’re coming from outside of the EU, you may want to exchange some currency for Euros before arriving in Rhodes. This is best done at a large airport or bank in your home country, as you’ll usually get a better exchange rate than in Rhodes itself.
Bottom line: When you visit Rhodes you can only use Euros as no other currencies are accepted.
Cash vs Cards
Cards are now almost universally accepted throughout Rhodes and the rest of Greece. In fact, many places will only accept card payments, especially for larger purchases.
However, it’s still a good idea to carry some Euros with you, as there are some places where you might get a better price for cash (perhaps hotels in Rhodes for example). Also, you might find that from time to time as you travel in Rhodes, the tap and pay card machine is ‘out of order’. In those circumstances, cash is needed!
Carrying perhaps 100 or 200 Euros in cash is not a bad idea when travelling around Rhodes. If you are planning to go Greek island hopping to smaller Greek islands from Rhodes by ferry, you might want to take more cash.
ATMs and Banks in Rhodes
There are plenty of ATMs and banks in Rhodes Town, the main city on the island. You’ll find cash machines (ATMs) outside most banks, as well as in other convenient locations around the city. You’ll even find cash dispensers in the UNESCO Rhodes Old Town!
Outside of Rhodes Town, there are still plenty of ATMs, but they might be more sparsely located outside of tourist centers. If you’re planning to head out of the city, it’s a good idea to withdraw some cash from an ATM beforehand.
You should know that Greek ATMs (that’s cash machines for the UK readers!) have a charge for withdrawals made by foreign cards. This can vary depending on the ATM, but the lowest fee is 2.60 Euros.
The upshot of this is that you shouldn’t rely on cash machines in Rhodes to withdraw small amounts like 20 Euros at a time – you’ll be paying a tonne in fees!
It’s best to make larger withdrawals, perhaps 200 Euros at a time. That way you’ll only be paying 2.60 Euros in fees.
Rhodes Currency Exchange
If you need to exchange foreign currency while in Rhodes, your best bet is to do so at a bank for the best exchange rates – but prepare to be waiting around a while!. There are also some bureau de change (currency exchange) offices in Rhodes Town, but the rates are generally not as good.
You might be able to get a better rate by paying for goods and services with your foreign currency credit or debit card, rather than exchanging cash. This is because businesses will use the ‘interbank rate’ to convert your foreign currency into Euros – which is usually a better rate than you’ll get by exchanging cash.
However, it’s always worth checking the exchange rate before making a purchase, as some businesses will add a fee on top of the conversion to make a bit of extra profit.
Tips for Using Money in Rhodes
Here are a few tips to help you make the most of your money while travelling in Rhodes:
– Withdraw cash from ATMs in larger amounts to avoid fees
– Use your card to pay for goods and services where possible, as you’ll usually get a better exchange rate than by exchanging cash
– Let your banks know that you are going to travel before you leave, as they might otherwise flag your card as being used ‘fraudulently’ if they see it being used in Greece!
– Keep an eye on the exchange rate before making any large purchases in Rhodes so that you know whether you’re getting a good deal or not.
– Keep some cash on you at all times in case you need to make a purchase in an emergency or if card payments are not accepted
– Consider using a Wise or Revolut account when going to Europe as they tend to have the best rate for currency exchange and don’t charge any fees.
Money in Rhodes FAQ
Readers who plan to spend time on the Greek island of Rhodes and are looking at what currency to use often ask questions similar to:
What is the main currency in Greece?
The main currency in Greece is the Euro. The drachma hasn’t been used since 2002, when Greece joined the Eurozone.
Do I need euros for Greece?
Yes, you will need euros for Greece as this is the main currency on the island. You can use cards almost everywhere now including supermarkets, accommodation, vehicle rental places, and even for taxi journeys. It does help to have some space cash on hand though just in case.
Can you pay by card in Rhodes?
Yes, you can pay by card in Rhodes. Remember to inform your bank before you leave that you are going on holiday to Rhodes.
Where is the best place to exchange money in Rhodes?
If you are landing at Rhodes Airport, you can buy Euros at the exchange kiosks. There are also currency exchangers in Rhodes Old Town.
What did the currency used to be in Greece?
The main currency in Greece used to be the drachma. It stopped being legal tender when Greece joined the Eurozone and started using the Euro.