Money

1. Currency Exchange

Euro is the official currency of Santorini and no other currency is accepted on the island. This makes it necessary that you exchange your dollars for Euro either at the airport itself or from any of the banks that offer currency exchange services. The exchange rate is uniform all over the island, but you should prefer exchanging your dollars from banks or official currency exchange shops, which are the least likely to charge extra.

The official working hours for the banks are from 9am to 2pm. Currency exchange machines are available at the airport that convert foreign currency into dollars. It is recommended that you exchange your traveler checks in installments, as carrying large amounts of cash is risky on the island.

One Euro consists of 100 cents and coins are available in many different denominations like 1, 2, 5, 10, 20, and 50 centimes, and 1 and 2 euros. The 1, 2 and 5-centime coins are copper-colored; 10, 20, and 50- centime coins are golden in color. 1 and 2 euro denominations are a mix of gold-and-silver colors. Euro notes are available in denominations of 5, 10, 20, 50, 100, 200 and 500. The coins really come in handy when you make payment to taxi drivers and porters. There are many ATMs on the island, which makes withdrawing cash hassle free. Most restaurants and hotels do accept Credit cards.

2. What a Dollar Will Buy You

Cable Car: $18 approximately

Wine and beer: $51, including tipping and cover charges.

Lunch with beer and bottled water: $51 + tip

Ice cream for 2: $12.75

Postcards: $4

Bus ride: $4.5 approximately

3. Telecommunications

The cheapest way of making international calls from the island is probably from Hellenic Telecommunications Organization (OTE) offices that are located in different parts of the island. You can also make international calls from hotels but this is usually costly as most hotels add an additional surcharge to the amount of the phone bill. Prepaid calling cards are also available at kiosks and OTE offices, which can be used for making local as well international calls from public card phone booths. You can also use your GSM mobile phone on the island as most carriers operate GSM networks and have roaming facility agreements with most international carriers. Internet cafes are located in most places of tourist importance and the rates here are generally cheaper than rates offered in hotels.

4. Cab Fares

You can hire a cab from the main taxi stand that is located just below Fira square, near the old bus depot. The starting minimum charge is 1.56 dollars (2 Euro) and the rest depends on a number of other factors such as your destination, what time of night it is, and the amount of luggage you have in the taxi. From Fira, a journey to the port will cost you anywhere between $8 and $12 whereas fare to Oia is anywhere between $9 and $12. If you are not traveling in a fixed rate taxi, it's recommended that you negotiate the fare before hiring the cab.

5. Currency Exchange Rates

Euro is the official currency of Santorini. Currency exchange rates are given as under:

1 EUR

1.28 USD

3.94 ARS

1.72 AUD

1.41 CAD

2.099 NZD

1.57 CHF

0.69 GBP

1 USD = 0.78 EUR

10 USD = 7.80 EUR

20 USD = 15.65 EUR

50 USD = 39.12 EUR

100 USD = 78.24 EUR

200 USD = 156.48 EUR

500 USD = 391.19 EUR

1,000 USD = 782.34 EUR

6. Tax

Visitors who are not citizens of the European Union can get a refund on VAT that they have already paid while purchasing goods. VAT is charged to about 4% on books and 18% on almost all other items. Claiming for a refund may involve a complicated procedure but is well worth the money. Non-EU visitors can purchase things from shops that bear the sign ‘Member of the Tax-Free Club' and claim cash on VAT at special refund kiosks at the airport. The departure tax is €12. Hotel Rates may include a service tax of 10% and VAT up to 11%.

7. Tipping

The tip is usually included in the bill at restaurants or hotels, but if it is not included, you can leave a tip of 10 to 15 percent of the total bill amount. Tipping in cafés is relatively cheaper as they are calculated by just rounding the bill amount to the nearest Euro. Although, tipping is not mandatory, it is often expected and accepted by taxi drivers, attendants, and porters. Many bars and clubs do not include tips on the bill, which means that anything you leave would be appreciated.