Where the Eastern and Western worlds meet, Turkey is a destination for those with a curiosity of history. Grab a snack along the cobblestone streets or take a walk along the ancient trade route of the Bosphorus River to feel a fusion of the modern West and the more traditional Eastern cultures.
The Turkish lira is the accepted currency in Turkey, 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 — withdrawing cash on credit is not advised. Visa and Mastercard cards are widely accepted, especially in the big cities. We’ll help you save money on your trip to Turkey by avoiding unnecessary fees.
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.
Our picks for traveling to Turkey
Our pick for travel credit card
American Express® Gold Card
Finder rating: 4.6/5
Our pick for multi-currency debit card
Finder rating: 4.5/5
Our pick for 0% transaction fee debit card
Finder rating: 4.6/5
What's in this guide?
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 is 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 are not 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
Using a credit card
Travel credit cards give you a line of credit to use for emergencies, large purchases or over the counter transactions. Find yourself a credit card that waives foreign transaction fees. Carrying a credit card gives you the added benefit of travel insurance and discounts, depending on your provider. For added savings, take advantage of the interest-free period by paying your balance in full each month.
Cards that offer travel perks and waive fees often charge an annual fee, so make sure the fee is worth it before you bring it along on your travels. If you’re ever in a jam, credit cards also offer the ease of cash advances, though we don’t recommend it. You’ll pay high fees and interest rates apply the moment you get your money.
- Tip: It’s worth researching credit cards that offer travel benefit and rewards for things you’ll buy anyways like flights and hotel stays.
- Rewards program
- Contactless payments
- Interest-free period on purchases
- Complimentary travel insurance
- Cash advance fees
- International ATM fees
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. The Citibank Plus waives the fee for international ATM withdrawals and doesn’t charge a monthly account keeping 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.
- Save on currency conversion fees
- Waived overseas ATM withdrawal fees
- 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.
- Holds various currencies
- Save on currency conversion fees
- 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. Cafes, 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.
- Accepted anywhere
- 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 are not accepted at exchange offices or businesses.
- Accepted at most banks
- Fees for purchasing and cashing
- Hard to find merchants that accept them
Compare travel credit cards
The main banks in Turkey are:
- Ziraat Bank
- Garanti Bank
- Yapi Kredi Bank
- Türk Ekonomi Bankası
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.
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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%–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 do not charge a local ATM operator fee, though your bank may. You can 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
Cash pickup services in Turkey
How much should I budget to travel in Turkey?
Turkey is a bargain for US travelers. You’ll pay significantly less for accommodations, sight seeing 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. You won’t see that in New York City! 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 Bazar 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’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.