Using a credit card in Cyprus

If you're heading to the "Island of Love" to enjoy year-round sun, pristine beaches or ancient ruins, here's how to avoid fees when you use a credit card.

Updated

Jan 18, 2024

Fact checked

Cyprus became part of the eurozone in 2008, but while the southern part of the island trades in euros, Northern Cyprus uses Turkish lira. Visa and Mastercard are widely accepted in Nicosia and other towns on the island (both south and north), and it’s rare that there’s a minimum purchase amount – so you can happily buy your souvlakia and halloumi using plastic!

The country is still trying to shake its reputation for financial instability, but its banking system is one of the most developed in Europe for tourists. ATMs are easy to find throughout the country, and you won’t have to look far to find one that doesn’t charge a fee.

What about fees?

As you’d expect, there are a few potential fees to watch out for when you’re paying with plastic in Cyprus:

Foreign transaction fees. A non-sterling fee of around 3% per transaction can apply, depending on your credit card. That’s £15 in fees for every £500 spent with your card.
Merchant currency conversion fees. Sometimes, a local merchant will offer to take payment in pounds. This is known as a dynamic currency conversion (DCC), and it can mean higher fees than if you simply paid in the local currency.
Card payment surcharges (charged by the merchant). If you’re using a Visa or Mastercard from an EU bank, you won’t need to worry about card payment surcharges.
Cash advance fees. Your card issuer may charge a fee for cash advances (withdrawing cash using your card).
Cash machine fees. The provider of a cash machine may charge a fee if you withdraw cash using your card, although this is thankfully becoming rarer.

It’s also worth noting that when it comes to cash advances and non-sterling transactions, many card issuers will start charging interest on the day your account is debited, rather than the customary “up to 55 days interest-free” that usually applies provided you clear your balance in full each month.

EU ban on credit card surcharges

In January 2018, the EU required member states to adopt the Payment Service Directive 2. The PSD2 is a ban on card payment surcharges – when a retailer adds a fee because you’re paying using a credit card. However, it’s important to note that there are limitations and exceptions to this directive and there are other fees that may apply when you pay by credit card. If your card is from a non-EU bank, uses a network other than Visa or Mastercard or is a business/corporate card, then the merchant may still levy a surcharge.

So how can I avoid the fees?

Consider taking out a credit card offering commission-free currency conversion (see table below), even if you only use it when you’re out of the country. Once you have one of these cards, if a merchant offers to take payment in pounds, say you’re happy to pay in the local currency, since you know that your own bank won’t add a margin.

Generally speaking, it’s not a great idea to use credit cards to withdraw cash, but some travel credit cards won’t penalise you for this either. Finally, make sure to check whether any ATM you use is going to charge a fee. High street bank ATMs are generally a safer bet than those in convenience stores or bars.

During the Cypriot banking crisis, the ATMs had smaller withdrawal limits – often around 100 euros. These limits have now been lifted, but different machines will have different withdrawal limits.

Compare cards with fee-free currency conversion in Cyprus

Table: sorted by representative APR, promoted deals first

Name	Finder score	Finder score	Foreign usage charge (EU)	Foreign usage charge (rest of world)	Purchases	Annual/monthly fees	Representative APR	Link	Incentive	Representative example
The Royal Bank Credit Card	4.5 ★★★★★	★★★★★ Expert analysis	0%	0%	12.9%	£0	12.9% APR (variable)	Go to site Read review		Representative example: When you spend £1,200 at a purchase rate of 12.9% (variable) p.a., your representative rate is 12.9% APR (variable).	Compare	loading Fetching your data...
NatWest Credit Card	4.5 ★★★★★	★★★★★ Expert analysis	0%	0%	12.9%	£0	12.9% APR (variable)	Go to site Read review		Representative example: When you spend £1,200 at a purchase rate of 12.9% (variable) p.a., your representative rate is 12.9% APR (variable).	Compare	loading Fetching your data...
Santander All in One Credit Card	4.5 ★★★★★	★★★★★ Expert analysis	0%	0%	0% for 15 months reverting to 23.9%	£3 per month	29.8% APR (variable)	Check eligibility Read review	0.5% after £1 of monthly spend. Maximum of £10 cashback paid per month. Cashback paid Monthly into Card Account. Maximum spend for cashback purposes is limited to credit limit.	Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a. with a fee of £3 per month, your representative rate is 29.8% APR (variable).	Compare	loading Fetching your data...
118 118 Money Guaranteed Rate Card	3.5 ★★★★★	★★★★★ Expert analysis	0%	0%	34%	£0	34% APR (variable)	Check eligibility Read review		Representative example: When you spend £1,200 at a purchase rate of 34% (variable) p.a., your representative rate is 34% APR (variable).	Compare	loading Fetching your data...
NatWest Reward Black Credit Card	4.0 ★★★★★	★★★★★ Expert analysis	0%	0%	21.9%	£84 per annum. Reward Black Current Account holders: Year 2 onwards - £0 per annum	40.7% APR (variable)	Go to site Read review	You'll earn 1% back at supermarkets and 0.5% back everywhere else, including supermarket petrol stations. At selected retailers, you could earn 1-15% back.	Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a. with a fee of £84 per annum. Reward Black Current Account holders: Year 2 onwards - £0 per annum, your representative rate is 40.7% APR (variable).	Compare	loading Fetching your data...
Royal Bank of Scotland Reward Black Credit Card	4.0 ★★★★★	★★★★★ Expert analysis	0%	0%	21.9%	£84 per annum. Reward Black Current Account holders: £0 per annum	40.7% APR (variable)	Go to site Read review	Earn 1% back at supermarkets and 0.5% back everywhere else, including supermarket petrol stations. At selected retailers, you could earn 1-15% back.	Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a. with a fee of £84 per annum. Reward Black Current Account holders: £0 per annum, your representative rate is 40.7% APR (variable).	Compare	loading Fetching your data...
Yonder Credit Card (only for London residents) Finder Award	4.5 ★★★★★	★★★★★ Expert analysis	0%	0%	29.94%	1 month for £0, £15 per month thereafter	66.7% APR (variable)	Go to site Read review	First month free for new members, £15 p/m thereafter. Plus, 10,000 bonus points. Earn 5 points per £1 spent and up to 25 points per £1 at selected partners. Membership includes worldwide travel insurance and no FX fees.	Representative example: When you spend £1,200 at a purchase rate of 29.94% (variable) p.a. with a fee of £15 per month, your representative rate is 66.7% APR (variable).	Compare	loading Fetching your data...
The Ulster Bank Credit Card Mastercard	4.5 ★★★★★	★★★★★ Expert analysis	0%	0%	12.9%	£0	12.9% APR (variable)	Read review		Representative example: When you spend £1,200 at a purchase rate of 12.9% (variable) p.a., your representative rate is 12.9% APR (variable).	Compare	loading Fetching your data...
Halifax Clarity Credit Card Mastercard	4.5 ★★★★★	★★★★★ Expert analysis	0%	0%	23.94%	£0	23.9% APR (variable)	Read review		Representative example: When you spend £1,200 at a purchase rate of 23.94% (variable) p.a., your representative rate is 23.9% APR (variable).	Compare	loading Fetching your data...
Nationwide Member Credit Card All Rounder	4.6 ★★★★★	★★★★★ Expert analysis	0%	0%	0% for 15 months reverting to 24.9%	£0	24.9% APR (variable)	Read review		Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).	Compare	loading Fetching your data...
Virgin Money Travel Credit Card Finder Award	4.5 ★★★★★	★★★★★ Expert analysis	0%	0%	0% for 9 months reverting to 24.9%	£0	24.9% APR (variable)	Read review	Enjoy exclusive offers and rewards on the Virgin Red app.	Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).	Compare	loading Fetching your data...
Nationwide Member Credit Card Balance Transfer	4.5 ★★★★★	★★★★★ Expert analysis	0%	0%	0% for 3 months reverting to 24.9%	£0	24.9% APR (variable)	Read review		Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).	Compare	loading Fetching your data...
Barclaycard Rewards Visa	4.5 ★★★★★	★★★★★ Expert analysis	0%	0%	28.9%	£0	28.9% APR (variable)	Read review	0.25% after £1 of yearly spend. Cashback paid On request into Card Account. Cashback paid annually or on request. Maximum spend for cashback purposes is limited to credit limit.	Representative example: When you spend £1,200 at a purchase rate of 28.9% (variable) p.a., your representative rate is 28.9% APR (variable).	Compare	loading Fetching your data...
Monzo Flex	4.0 ★★★★★	★★★★★ Expert analysis	0%	0%	0% if paid in full monthly or over 3 months. Reverting to 29% (variable) in 6, 12 or 24 monthly payments.	£0	29% APR (variable)	Read review		Representative example: When you spend £1,200 at a purchase rate of 29% (variable) p.a., your representative rate is 29% APR (variable).	Compare	loading Fetching your data...
Santander Edge Credit Card Mastercard	4.5 ★★★★★	★★★★★ Expert analysis	0%	0%	23.9%	£3 per month	29.8% APR (variable)	Read review	2% after £1 of monthly spend. 1% after £1 of monthly spend. Maximum of £15 cashback paid per month. Cashback paid Monthly into Card Account. Maximum spend for cashback purposes is limited to credit limit.	Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a. with a fee of £3 per month, your representative rate is 29.8% APR (variable).	Compare	loading Fetching your data...
Bip Credit Card Mastercard	4.0 ★★★★★	★★★★★ Expert analysis	0%	0%	29.95%	£0	29.9% APR (variable)	Read review		Representative example: When you spend £1,200 at a purchase rate of 29.95% (variable) p.a., your representative rate is 29.9% APR (variable).	Compare	loading Fetching your data...
Zopa Credit Card Visa	4.1 ★★★★★	★★★★★ Expert analysis	0%	0%	34.9%	£0	34.9% APR (variable)	Read review		Representative example: When you spend £1,200 at a purchase rate of 34.9% (variable) p.a., your representative rate is 34.9% APR (variable).	Compare	loading Fetching your data...
Tesco Bank Clubcard Plus Credit Card Mastercard Finder Award	4.5 ★★★★★	★★★★★ Expert analysis	0%	0%	0% for 24 months reverting to 19.94%	£7.99 per month	37.7% APR (variable)	Read review	5 points per £4 spent (£4 minimum) in Tesco and 1 point per £8 spent (£8 minimum) outside Tesco. Must have available credit to earn points. Points are converted to Tesco vouchers or can be exchanged for Partner rewards to receive money off a variety of restaurants, entertainment or Avios points.	Representative example: When you spend £1,200 at a purchase rate of 19.94% (variable) p.a. with a fee of £7.99 per month, your representative rate is 37.7% APR (variable).	Compare	loading Fetching your data...
Santander World Elite Mastercard	4.4 ★★★★★	★★★★★ Expert analysis	0%	0%	0% for 18 months reverting to 18.9%	£15 per month	49.8% APR (variable)	Read review	0.5% on £1 to £3000 of monthly spend. Maximum of £15 cashback paid per month. Cashback paid Monthly into Card Account. Maximum spend for cashback purposes is limited to credit limit.0.5% cashback on monthly spend of up to £3,000. Access to over 1 million Wi-Fi hotspots, no foreign transaction fees, discount on travel insurance.	Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a. with a fee of £15 per month, your representative rate is 49.8% APR (variable).	Compare	loading Fetching your data...
Harley Ultra Card (in partnership with Tymit)	4.2 ★★★★★	★★★★★ Expert analysis	0%	0%	29.9%	£120	58.29% APR (variable)	Read review	Enjoy H.O.G.® member benefits and tyre insurance for your Harley.	Representative example: When you spend £1,200 at a purchase rate of 29.9% (variable) p.a. with a fee of £120 per annum, your representative rate is 58.29% APR (variable).	Compare	loading Fetching your data...

Are American Express cards accepted in Cyprus?

American Express is accepted by some retailers, although it’s not as common as Mastercard and Visa. Additionally, merchants may levy a surcharge for Amex payments.

Contactless and chip-and-PIN payments

Contactless payments are available for payments under 20 euros.

You can make chip-and-PIN payments throughout the country, provided you have a four-digit PIN.

Is it safe to use my credit card in Cyprus?

Card scams – and crime in general – are relatively rare in Cyprus. As far as safety goes, you can freely use your card. However, there are some precautions you can take for increased security:

Use an ATM within a bank. If for some reason the ATM eats your card, you’ll be able to quickly retrieve it. Also, ATMs within banks are less likely to be tampered with. Should you use one outside a bank, check for devices attached to the reader and cash return slot.
Consider taking an additional credit card. You can use your primary card for payments and keep your back-up card in your hotel room safety deposit box. That way, you’ll never be left without money.
Keep your card in sight. Card cloning is rare in Cyprus, but just in case, don’t let your card out of your sight.

How to prepare before traveling to Cyprus

Get a credit card without foreign transaction fees. If you travel often, avoiding the 3% foreign transaction fee can save you a lot of money. Consider getting a travel credit card to avoid the foreign transaction fees.
Opt for a Mastercard or Visa. They’re the most-widely accepted cards and Cyprus is no exception, though you can still use your American Express cards in some locations. There are also enough ATMs around if you want to withdraw cash with these cards as well.
Carry a back-up card. Try to always carry a second card when traveling abroad, given you don’t know what could happen to your primary card.
Get some cash. In general, you can pay with plastic almost anywhere in Cyprus. But if you want to make a cash withdrawal, keep in mind that credit cards have additional fees while most debit cards don’t.
Inform your bank you’re traveling to Cyprus. If you don’t let your bank know ahead of time the dates you’ll be away and where you’ll be, it may block your card if it suspects the charges are fraudulent.
Make a note of your bank’s phone number. If you lose your card or have payment issues, you’ll be able to call the bank to resolve it.

Do taxis in Cyprus accept credit cards?

You’ll need to pay cash when using a taxi in Cyprus, so make sure you have the cash before you get in.

Bottom line

If you travel to Cyprus, you can safely use your credit card to make payments and withdraw cash. You’ll just have to be careful to not incur fees you can otherwise avoid. With a decent travel credit card, you’ll avoid paying foreign transaction fees. By simply declining the DCC when offered, you’ll also avoid a poor exchange rate or commission.

Frequently asked questions

Cyprus has been using the euro since 1 January 2008. Euro notes come in denominations of 5, 10, 20, 50, 100, 200 and 500 euros. You can get 1 and 2 euros coins as well as 1, 2, 5, 10, 20 and 50 cent coins.
However, in Northern Cyprus, they use the Turkish lira. It comes in denominations of 5, 10, 20, 50, 100 and 200 liras. The lira is divided into 100 kurus. Its coins come in denominations of 1, 5, 10, 25 and 50 kurus.

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Chris Lilly

Chris Lilly is Head of publishing at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more.

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