Money & Payments in Mykonos (2026)

Always pay in Euros at ATMs and card terminals. Declining the Dynamic Currency Conversion (DCC) option when a machine offers your home currency saves significantly on hidden fees.
Cash is still commonly used despite legal card-payment mandates; locals often prefer cash to avoid tax-authority reporting of electronic transactions.
For taxi and bus rides, carry adequate cash as many drivers do not accept cards.
While 99% of tourist-facing businesses accept cards, small family-run establishments may still prefer cash or claim their machine is temporarily broken.
Bank-attached ATMs are generally more reliable than standalone machines and less likely to malfunction.

Locations: ATMs are plentiful in Mykonos Town, the airport, and main beach areas like Platis Gialos and Ornos.
Availability: Abundant
Fee Advisory: ATM fees vary by your home bank; common US bank fees range from $3–$5 per foreign withdrawal, plus a 1–3% exchange-rate markup. To minimize fees: withdraw larger amounts per transaction, use ATMs attached to banks, and always select the option to be charged in Euros (EUR) rather than your home currency, as choosing your home currency triggers poor exchange rates with hidden fees (Dynamic Currency Conversion).
Card Compatibility: ATMs accept Visa and Mastercard. Bank-attached ATMs are recommended.

General Practice: Tipping is generally optional in Greece; rounding up the bill or leaving small change is common but not mandatory. A tip of 5–10% is appreciated for good service at restaurants and bars, though norms may be less formal in casual settings.
Note: Specific tipping percentages or customs for Mykonos could not be confirmed from available sources. This is flagged for follow-up research.

Status: Widely accepted; mandatory by law
Details: As of December 2025, all businesses in Greece that hold a card terminal are legally required to accept card and IRIS (instant bank-to-bank transfer) payments. Visa and Mastercard are accepted almost everywhere, including restaurants, shops, and beach clubs. American Express is accepted at high-end venues but less common at smaller shops. Despite legal requirements, some small family-run establishments may claim equipment is broken or prefer cash; gaps remain in smaller shops, family-run tavernas, and less popular areas.
Mobile Payments: Apple Pay and Google Pay are accepted almost everywhere.

Recommendation: Carry both cards and cash. While card acceptance is improving, maintaining cash reserves is prudent for contingencies.

Currency: EUR (Euro)
ATM And Fees: ATM withdrawals outside your bank's network typically cost €2–€3.75 per transaction.
Banking Hours: Typically 8:00 AM to 2:00 PM weekdays; 8:00 AM to 1:30 PM Fridays. Some branches may have extended hours or Saturday service.
Setup Process: Foreign nationals can open bank accounts in Mykonos through major Greek banks. Requirement: Greek tax number (AFM). Most foreigners must visit branch in person. Typical minimum initial deposit around €250.
Process Timeline: 1–2 weeks typical once documents are gathered. In-person branch visit required for signature and verification.
Account Types Available: Personal checking, savings, business accounts. Internet banking and mobile apps available in English.

Valid passport or EU ID
Greek tax number (AFM) — obtainable at tax office, free of charge
Proof of address (utility bill or rental contract)
Proof of income (payslips, bank statements, or letter from employer)
Tax identification number from home country if participating in automatic exchange system

Alpha Bank
Location
Chora (town center)
Services
Personal and business accounts, ATM
National Bank of Greece
Location
Fabrika, Chora
Services
Personal and business accounts, ATM
Eurobank
Location
Port, Chora
Services
Personal and business accounts, ATM
Piraeus Bank
Location
Drafaki, Mykonos
Services
Personal and business accounts, ATM
Bank of Cyprus
Location
New Peripheral Road
Services
Personal and business accounts, ATM

AI-generated estimateData refreshed July 2026

These are the sources cited in this money & payments research for this city. Individual figures may not each trace to one of them.

More About Mykonos

Data last updated July 2026 · Verify anything important.