As of May 2022, Turkey is officially called the Republic of Türkiye after the UN accepted the country’s name change request.
The Turkish lira is the country’s accepted currency, and although you can pay with euros in some places, you’ll always get a better deal paying in the local currency. Get lira from ATMs using your debit card or travel card, and Visa and Mastercard cards are widely accepted, especially in the big cities.
A credit card will generally serve you well in Turkey, particularly one that doesn’t charge foreign transaction fees. Here’s how to round out your purchasing options for your trip to Turkey
Travel warning in Turkey
As of October 2017 The US State Department as issued a travel warning to American travelers to beware of threats from terrorist groups in Turkey. They advise to reconsider travel to southeast Turkey, including travel to Istanbul and Adana.
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Travel card, debit card or credit card?
Visa and Mastercard are widely accepted in Turkey. American Express cardholders may have issues with card acceptance, especially outside the major cities.
There are an abundance of ATMs in Turkey, and if you think you’re going to have an issue using your card in a particular destination, make a withdrawal and use cash instead. You can find debit cards that waive the currency conversion fee and international ATM fees. For using cash, this is the best option because no prepaid travel cards support Turkish lira.
You won’t have any problems using your Visa and Mastercard credit card and debit card in Turkey. But a thousand things could happen to your card when you’re away. So you should always have more than one way to access your money in Turkey, or anywhere for that matter.
A debit card is ideal for ATM withdrawals, especially if your card waives the international ATM fee.
Meanwhile, a credit card gives you a line of credit that can come in handy for large or emergency purchases. Purchases will cost you more if you don’t pay your account in full each month.
Prepaid travel cards aren’t the cards to take to Turkey because they don’t carry lira. However, on a trip where you’ll be visiting countries that take euro, you may be able to pay the conversion fee when you make purchases.
If you’re careful about how to spend your travel money, saving on foreign transaction fees and getting a good exchange rate, you can earn yourself a bus tour or a meal!
Compare travel money products to keep your budget in check while you enjoy your trip abroad.
These are your options for spending money in Turkey
Compare credit cards for travel
Using a credit card
Travel credit cards give you a line of credit to use for emergencies, large purchases or over the counter transactions. To save on purchases, find yourself a credit card that waives foreign transaction fees, like the Capital One VentureOne Rewards Credit Card (Terms apply, see rates & fees).
Carrying a credit card may give you the added benefit of travel insurance, miles and discounts, depending on your provider. It pays to compare travel card options along with your travel habits to find one that best fits your needs.
- Tip: It’s worth researching credit cards that offer travel benefits and rewards for things you’ll buy anyways like flights and hotel stays.
Pros
- Rewards program
- Contactless payments
- Interest-free period on purchases
- Complimentary travel insurance
Cons
- Cash advance fees
- International ATM fees
Which credit card issuers are accepted in Turkey?
Visa and Mastercard are most commonly accepted card networks in Turkey, and American Express credit cards are accepted more widely than Discover cards — especially at expensive hotels and restaurants.
If you’re a Discover cardmember looking to make cash withdrawals, look for Citibank and Garanti ATMs. American Express owners can choose ATMs from Akbank, Vakifbank, Garanti and Türkiye is Bankasi among others.
| Merchant acceptance | ATM acceptance | |
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LowPotential credit card fees in Turkey
Whether you’ll pay any fees on your purchases abroad depends on your card. For example, you could pay:
- Foreign transaction fees. This could be up to 3%, which means for every $5,000 spent in Turkey, you’ll pay $150 in fees.
- Currency conversion fees. ATMs and vendors could offer you the option to pay in US dollars. This is called Dynamic Currency Conversion and beware: It comes with a poor exchange rate and high fees.
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Explore top debit cards with no foreign transaction fees and travel credit cards by using the tabs to narrow down your options. Select Compare for up to four products to see their benefits side by side.
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Using a debit card
A travel debit card lets you spend your own money through ATM withdrawals and making purchases anywhere Visa or Mastercard are accepted. You can use a debit card over the counter and to withdraw money from ATM where Visa and Mastercard are accepted throughout the country, which is most places.
Because you’re spending your own money, you avoid interest charges you’d pay with credit cards. Some cards, like the one from Betterment Checking, waive the fee for international ATM withdrawals and don’t charge a monthly account maintenance fee.
- Tip: Citibank no longer has a presence in Turkey. You can use your Citibank Plus to make free ATM withdrawals from Denizbank ATMs (and most ATMs from Turkish banks), the company which purchased Citibank’s Turkish operation.
Pros
- Save on currency conversion fees
- Waived overseas ATM withdrawal fees
Cons
- No access to cash advance
Using a prepaid travel card
No travel cards support Turkish lira, so look for a card which waives the currency conversion fee, such as Qantas Cash, if you’re set on taking a travel card when you visit Turkey. These products won’t apply the additional charge for currency conversion when you spend in lira, which can be higher than what you’d pay if you use your regular debit or credit card.
The compromise is these cards will charge you to use an international ATM withdrawal in Turkey, which is a couple of dollars for each withdrawal. You can load these cards with euros to use at some merchants — but don’t count on it. And you won’t get the best exchange rate.
- Tip: When you get a travel card, you’ll get two for the same account. This can come in handy if your first card is lost or stolen, so make sure to keep the second card in a safe place.
Pros
- Holds various currencies
- Save on currency conversion fees
Cons
- Doesn’t hold Turkish lira
- Come with lots of fees for loading and reloading, inactivity and ATM withdrawals.
Paying with cash in Turkey
Always have lira on hand when you’re out and about in Turkey, as you’re bound to run into situations where a business won’t accept your card. Cafés, small eateries and tea houses are all cash-only. Larger stores are likely to take cards but some of the best experiences, like shopping in the Grand Bazaar, are cash only.
If you’re bringing a card that has no currency conversion and no international ATM fee card, using an ATM is the best way to get lira in Turkey. When you use your card to withdraw cash, you’ll get the card’s foreign exchange rate, which is a better rate than what you’ll get at exchange offices or banks.
If you have cash to exchange, most exchange offices will buy USD and sell you lira. You can find these businesses in tourist areas like Taksim in Istanbul. And unlike banks you may not pay a commission. You’ll get a poor rate if you exchange money at the airport.
- Tip: Avoid carrying large amounts of cash, as tourists are often the target of criminals, especially in areas of Istanbul.
Pros
- Accepted anywhere
- Convenience
Cons
- More difficult to manage expenses
- High risk of theft
Using traveler’s checks
It’s far more convenient — and it can be cheaper — to use your travel friendly debit card or prepaid travel card to make ATM withdrawals rather than a traveler’s check when you need cash. They must be cashed at banks and they aren’t accepted at exchange offices or businesses.
Pros
- Accepted at most banks
- Security
Cons
- Fees for purchasing and cashing
- Hard to find merchants that accept them
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Turkish currency
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The main banks in Turkey are:
- Akbank
- DenizBank
- Garanti BBVA
- Halkbank
- Isbank
- QNB Finansbank
- Türk Ekonomi Bankası (TEB)
- VakifBank
- Yapi Kredi Bank
- Ziraat Bankasi
Buying currency in the US
While you’ll get a better rate if you wait to get Turkish lira in Turkey, you can purchase lira in the US from your bank or a foreign exchange provider like Travelex. Here are some popular ways to exchange your US currency into lira.
American ExpressTravelex
Live Rate
Refreshing in: 60s | Thu, Feb 01, 09:16AM GMT
Exchange rate history
The USD has grown significantly against the TRY in the past 10 years. Watch the forex markets and determine a good time to buy liras and lock in a favorable rate with traveler’s checks or travel money cards.
Which exchange rate is the best?
Transactions on Visa, Mastercard and American Express branded credit cards and debit cards use the same exchange rates that are close to the market rate — often 5% to 10% better than banks or currency conversion centers. Travel money cards use their own rate, determine by the financial institution that released the card.
As for cash, it’s best to exchange your money when you arrive in Turkey. The commission at money exchanging kiosks in the US are much higher.
ATMs in Turkey
Good news: Turkish bank ATMs don’t charge a local ATM operator fee — though your bank may. Look for a debit card from a provider that doesn’t charge international ATM fees, like Betterment Checking.
Use a debit, credit and travel cards with the Visa or Mastercard logo to get cash from Turkish ATMs. You can withdraw both lira and euros, but save yourself the over the counter currency exchange rates and use lira for your purchase
- Tip: There are instances when the transaction times out. If this happens to you try a different ATM. Contact your bank if they charge you for a withdrawal and you didn’t get your money.
Find ATMs in Turkey
Keep your travel money safe in Turkey
US travelers are advised to exercise increased caution in Turkey due to terrorism and arbitrary detention, particularly in special security zones along the Syrian border to the south.
Otherwise, be on the lookout for pickpockets and scams in busy tourist areas, and never get involved in political protests.
When in public, refrain from wearing flashy items that signify wealth and keep your money in a money belt so it’s out of arm’s reach.
Is it safe to use my credit card in Turkey?
Using a credit card in Turkey is safe, but exercising caution is advised.
- Select ATMs with care. Choose an ATM attached to a bank. These ATMs are less likely to be tampered with and you can quickly retrieve your card if it gets eaten by the machine.
- Take two cards. Having a backup card could save you time, money and stress.
- Keep your card in sight. Always keep an eye on your card to avoid misuse.
How much should I budget to travel in Turkey?
Turkey is a bargain for US travelers. You’ll pay significantly less for accommodations, sightseeing tours and food. What’s more is that taking a public bus is not only more economical, it can also be pleasant, with free snacks and drinks brought to you by a steward.
For budget travelers, you can survive on less than $20 a day, mid-range travelers can budget $50 per day. For more luxury hotels and dinner, plan for $150 a day. All prices are in US dollars.
| Budget | Midrange | A royal experience | |
|---|---|---|---|
| Meals | Dürüm kebab (street) less than $5 | At a mid-range restaurant $10–$20 per dish | 5-star restaurant, mains from $40+ per dish |
| Accommodation | Hostel dorm $9+ per night | 2-star hotel $25+ per night | 5-star hotel $80 + per night |
| Activities | Stroll through the Grand Bazaar free | One-day sightseeing tour $100 per person — includes lunch | Private photo tour of Istanbul $400 per person for 4 hours |
*Prices are approximate are subject to change.
Case study: Luke's experience
Luke
Luke’s trip to Turkey
Luke spent a week in Istanbul, Turkey before joining a TopDeck tour which took him to the Gallipoli dawn service at Lone Pine to end up in Greece. We interviewed Luke about his travel money experience while in Turkey.
Do you have any travel money tips for Turkey?
Luke says take note of the following:
- Let your banks know where you’ll be heading so they don’t block your cards.
- Don’t be tricked by exchange offices at Istanbul bus stations. Luke says he got ripped off the first time he tried to change cash. This only happened once, but he says the memory still stings.
- You need to have Turkish bank account if you want a Turkish debit card to use while you’re on holiday. Luke says he didn’t encounter any shops or businesses selling these cards to tourists.
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