KalkanHouse.com - a luxury villa in Turkey

This page contains useful information about the money used in Turkey, and what you should yake with you when you visit.

In Kalkan (and in several other places along the Lycian Coast) there are four main currencies that are accepted: The Turkish Lira, The Euro, The Dollar and Sterling. You will find that many places will accept any of these currencies (but will usually only give change in Turkish Lira).

TODAY'S CURRENCY CONVERSION RATES

€1 = 1.70 YTL

$1 = 1.23 YTL

£1 = 2.07 YTL

Currencies updated on October 6, 2008

Turkish Currency

Starting from January 2005, the Turkish government is phasing in new (YTL) banknotes and coins to replace the old (TL) currency in circulation. The new notes will be similar in appearance to the previously issued notes with the exception that the last six zeros on all notes will be eliminated.

In other words, an old TL 1 million Lira note will become the new YTL 1 Lira note. In addition, two new banknotes will be introduced, the YTL 50 Lira note and the YTL 100 Lira note.

Older coins and notes will stay in circulation until the end of 2005.

You should not accept old Turkish Lira notes any more, as they are no longer legal for payment. Insist on receiving only New Turkish Lira notes!

Money Tips

Turkish ATMs

Automated teller (cash) machines (cashpoints, bancomats) are everywhere in Turkish cities, and even in many small towns.
Your home bank account will be debited for the amount you withdraw from a Turkish ATM (plus a service charge).
Because bank card fraud is a big problem in Turkey, there is a chance that your home bank may limit or deny use of your ATM/cash/debit card in Turkey. Some travellers report that after one use in Turkey, their cards were ineffective. Talk to officials at your bank, in particular the Card Fraud Division.

Currency Exchange Offices

Currency Exchange Offices (Döviz Bürosu) are found in many market areas. They offer better exchange rates than most banks, and may or may not charge a commission. Shop around for the best rate and the lowest or zero commission.

Post Office (PTT)

Most post offices will exchange cash (US dollars or Euros), and the bigger post offices may also exchange other major currencies such as UK Sterling.

Banks

These have the worst rates, the biggest commissions and the most cumbersome procedures, but a few specialised branches may be willing to exchange currencies lesser known than the US dollar, Euro, Sterling, and Yen.

Credit/Debit Cards

When you travel to Turkey, you can use your major credit card to pay for most purchases such as hotel rooms, rental cars, fuel and the more substantial souvenirs.
The most popular card is Visa, followed by Mastercard. American Express is accepted in many of the more expensive places, such as the luxury hotels.
If you've bargained for an item and you haven't mentioned that you'd be paying by credit card, the merchant may want to add the credit card service fee (usually 2% to 4%) to the price you pay, as that was not included in the deal you made. This was made illegal in June 2003, but may still be in practice (especially with foreign visitors who are not aware of the law).
At fuel stations you may see a sign which reads %0 Komisyon (0% Commission). This means that no credit card service fee will be charged if you choose to pay for your fuel by credit card.

Travellers Cheques

Travellers cheques are more hassle and more expensive to use when you travel to Turkey than an ATM or credit card.
Not all banks welcome travellers cheques, and they may send you to a particular branch to cash them. Some banks charge a fee or up to 20% of the amount, to cash them.
Currency exchange offices will sometimes cash them at the best rates, but may also charge a service fee. These offices are usually only found in the largest cities near where foreign currency transactions occur.
Most merchants will take travellers cheques, but would prefer cash.

Tipping

Tips are generally modest in Turkey (a few % of the price paid).
Although the person you tip would prefer Turkish liras, you may tip in any currency so long as you give notes. Don't give non-Turkish coins, as these cannot easily be exchanged for Turkish liras.

Printable Version

Please click on the button to print a printer friendly version of this page: