Sri Lankans address monks as "Hamudru" = reverend. If you use the Pali "Bhante" they will probably understand, and that will be understand by most Theravāda bhikkhus.
It's a humility thing. Some will not show any special respect at all, some will hold their hands in añjali, some will bow from the waist, a few will do a full five-point prostration (touching the forehead, forearms, and knees to the ground). It's not a gender thing, but women often show more humility than men.
I see some differences between cultures, but Thai, Burmese, Sri Lankan, Malaysian, Cambodian, Tibetan, and Indian Buddhists all seem to follow similar customs regarding bowing. Japanese Buddhists seem to bow from the waist only, but greet lay people in the same way too.
My advice is to do whatever you feel comfortable with. I certainly don't expect any Westerners to prostrate of even perform añjali when they greet me, though I am pleased to see that they have adopted the Buddhist custom if they do prostrate or perform añjali.
I do ask visitors to remove their shoes before entering the meditation room. Not doing even that would be seen as quite rude in most Buddhist temples.