Top payment methods in Monaco: A guide on best ways to pay
Wondering what the most popular ways to pay are in Monaco? Explore the top payment options and choose wisely.
Monaco, with a population of around 38 thousand people, has a GDP of approximately 9.24 billion making it the 152nd largest economy in the world. The official currency of Monaco is the Euro (EUR)
The economy is based on tourism, banking, and luxury services, catering to a wealthy international clientele. It is integrated with France through a customs union and uses the euro as its currency.
| Country | Monaco |
|---|---|
| Population | 38 thousand |
| GDP (USD) | 9.24 billion |
| Global Ranking | 152nd |
| Currency | Euro (EUR) |
Spend abroad with the mid-market exchange rate - no markups, and no sneaky transaction fees.
What is the main payment method in Monaco?
As a high-income nation, the preferred and universally accepted payment method in Monaco is the credit or debit card, including premium cards like American Express. For regular payments such as rent and services, SEPA (Single Euro Payments Area) credit transfers are standard. While card payments are dominant, physical cash in Euros is still used for smaller purchases and tipping.
How to pay in Monaco
Each country has its own way of moving money, and choosing the right method can sometimes be difficult. That’s why we have curated the most popular and best payment options for you to use in Monaco.
| Payment Method | Description | Type |
|---|---|---|
| Wise | Wise provides international money transfer services. It is known for offering transparent, low-cost currency exchange rates and fast transfers. Wise uses the mid-market exchange rate and charges a small, upfront fee, making it a cost-effective alternative to traditional banks for sending money abroad. The platform also offers multi-currency accounts, allowing users to hold and manage money in multiple currencies. | Online/In-person |
| Cards (Visa, Mastercard, Amex) | As a major hub of wealth, credit and debit cards are the standard and preferred payment method for nearly all transactions. | Online/In-person |
| SEPA Bank Transfers | As part of the SEPA zone (via France), bank transfers are a primary method for high-value transactions and recurring payments. | Online |
| Cash (Euro) | While cards are preferred, cash in Euros is universally accepted for all transactions. | In-person |
| Digital Wallets (Apple Pay, Google Pay) | Mobile wallets are widely supported and used, offering convenient contactless payments. | Online/In-person |
Traveling beyond Monaco? Explore payment methods by country.
Is PayPal available in Monaco?
Yes, PayPal is accepted in Monaco.
Cover all your international travel expenses with the Wise Multi-Currency Card
Whatever you need to buy during your trip, whether it’s a travel adapter, train ticket or an extra bottle of sunscreen, the Wise Multi-Currency Card has you covered.
You can spend like a local in 150+ countries, as this clever contactless card automatically converts currency at the mid-market exchange rate whenever you spend - for just a small conversion fee.
And for extra convenience, you can add your Wise Multi-Currency Card to your Google Wallet or Apple Wallet. Then you can travel even lighter and pay using just your phone, with no need to pack the physical card.
Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.