What is the Currency in Corfu?

What is the currency in Corfu?

If you're planning a trip to Corfu, running a holiday let, or buying local goods, understanding the currency used is essential. This guide is for travellers, property investors, expats, and anyone doing business on the Greek island. We’ll explain exactly what money is used in Corfu, how to handle it, and practical tips to get the most from your spending.

Currency used in Corfu: what it is and why

Corfu is part of Greece, and the island uses the Euro, abbreviated EUR and symbolised as €. It became Greece’s official currency in 2002, replacing the drachma. Today, the euro is used for all transactions in Corfu, including shops, restaurants, taxis, public services, holiday rentals, and local markets.

Who this guide is for

This article is tailored to:

• Tourists and holidaymakers – to plan budgets and payments.

• Property buyers and holiday-let operators – to understand expenses and pricing.

• Freelancers or remote workers – living or working temporarily in Corfu.

• Business owners and investors – dealing with suppliers, contractors, or local services.

How the euro works in Corfu

The euro is a common currency used across 20 European Union countries, including Greece. Physical money comes in coins and notes:

• Coins: 1, 2, 5, 10, 20 and 50 cent pieces, and €1 and €2 coins.

• Banknotes: €5, €10, €20, €50, €100, €200 and €500 (though €500 notes are rarely used in everyday life).

Transactions in Corfu will almost always involve euro cash, though cards and digital payments are widely accepted—especially in larger hotels, restaurants and supermarkets across Corfu Town, Kassiopi and Sidari.

Benefits and drawbacks of using the euro

Benefits:

• Confidence and stability: Backed by the European Central Bank, the euro offers low inflation and credible monetary policy.

• Easy travel: No need to exchange money between countries using the euro, ideal if you're touring Greece or other EU nations.

• Convenient banking: Many UK and EU bank cards work seamlessly—perfect for both tourists and locals.

Potential drawbacks:

• Foreign exchange fees: Non‑EU cards can incur ATM or transaction fees when used in Greece.

• Cash still matters: In rural villages or small tavernas, cash often remains the preferred payment method.

• ATM limits: Daily withdrawal limits may apply, especially during tourist season.

Exchange rates and how to manage costs

When converting from other currencies like GBP or AED, rates vary:

• Banks often offer the most secure exchange but may charge service fees.

• High‑street currency exchanges may have better rates than airports—but watch for hidden charges.

• ATMs are widespread and often offer competitive rates, though check your bank’s fees.

A helpful rule: check today’s mid-market rate (use apps such as XE or Google) to compare against ATM or exchange offers—aim for a margin under 2% to avoid overpaying.

Tips to make your money go further

• Use local bank ATMs (Alpha Bank, Piraeus Bank, etc.) to access euros at fair rates.

• Avoid airport kiosks—they usually offer poor conversion deals.

• Carry small change—some beach vendors or taxis may not accept card or large notes.

• Use contactless payments or mobile wallets where available—but check with your bank to avoid overseas fees.

• Be mindful of dynamic currency conversion: Some merchants may offer to charge your card in your home currency—usually at an unfavourable rate. Choose euros.

Common questions

Can I use US Dollars or other currencies in Corfu?
No—euro is the only legal tender. You’ll need euros for most transactions, though some tourist spots may display prices in other currencies for convenience only.

Are credit and debit cards widely accepted?
Yes, especially in hotels, restaurants, supermarkets and car rental firms. However, small shops and villages often prefer cash—carry euros just in case.

Should I exchange GBP before I go?
You can, but check the rate. Usually, it’s better to withdraw euros from an ATM in Corfu to get a better deal—even considering ATM fees.

Real‑life example

A couple from the UK travels to Corfu for a week. They exchange £400 at their local bank before travel, receiving €465. Once in Corfu, they withdraw another €200 via ATM, paying a 2% fee (around €4). They spend €300 on accommodation, €150 on meals and transport, and €100 on shopping. Carrying cash ensures they can use taxis and small tavernas, but they use cards in larger spots without fees. Overall, careful planning helps them stay within budget without losing much to conversion charges.

Summary: your essential euro guide

Corfu uses the euro like the rest of Greece. To prepare financially:

• Handle euros only—no need to carry other currencies

• Use ATMs or bank exchanges strategically to get fair rates

• Keep both card and cash options available

• Avoid airport exchanges and dynamic currency conversions

This ensures a smooth & affordable experience whether you're visiting, living, or investing in Corfu.