What’s the Best Currency to Take to Turkey? All About Currency in Turkey for Travellers in 2023

Are you travelling to Turkey soon and wondering which currency you should take there? Curious whether you should take British pounds or US dollars along with you or whether it's best to buy the local currency at the airport? Then this short guide is for you!

Turkey uses the Turkish lira as its currency, meaning that, except in tourist establishments, airports, or hotels, you normally won't be able to use your home currency to pay your way, even if it's a popular tourist currency like the British pound or the euro.

As we'll see, to pay while you're visiting Turkey, you'll either need to buy lira banknotes before or during your trip, use your ordinary credit or debit card, or (cheapest of all) use a savvy multi-currency debit card like Revolut's or Wise's travel debit cards.

In this short guide, we'll discuss what's the best currency to take to Turkey, how you should pay when you're there, and what your cheapest options are to avoid paying hefty exchange rate charges.

Overview of Currency in Turkey

Petr Kratochvil

As we saw earlier, the currency in Turkey is the Turkish lira.

As the official legal tender in Turkey, it's the sole currency recognized by the Turkish government, and you can use it to settle all financial obligations in the country, from paying for your hotel stay, to the entrance fee at the Hagia Sophia, to a bite to eat in Sultanahmet.

Turkish Lira Inflation

Over the past few years, the lira has taken a big hit on foreign currency exchange markets, battling soaring inflation, high interest rates, bank runs, and financial instability.

Although lira inflation likely won't impact you as a tourist in Turkey, it's worth keeping in mind if you plan to buy a large sum of lira banknotes and you end up bringing them home unused with you after your holiday. In this case, you'll probably get a bad deal on the exchange rate by swapping liras back into your home currency since most banks and exchange offices mark up the lira more than usual, partially to account for its inflation. This means that if you buy lira banknotes, you should try to budget carefully to avoid bringing any home.

You can learn more about the Turkish lira currency here.

Best Currency to Take to Turkey

Anna Berdnik

Because it's the local currency and because you won't have any trouble buying goods with it, the best country to have on hand and spend while visiting Turkey is, unsurprisingly, the Turkish lira.

However, if you arrive in Turkey with another currency on hand, it doesn't necessarily mean you won't be allowed to pay in Turkey. Especially if you're carrying a popular tourist currency like the pound sterling, the euro, or the US dollar, you'll find it easy to exchange them for liras at banks or currency exchange offices across Turkey — even if those currencies aren't official or used commercially in Turkey.

You can check out the prevalence of a few of the most popular tourist currencies in Turkey below:

Although the Turkish lira is the best currency to use and other tourist currencies can be easily exchanged, exchanging currencies in the form of cash almost invariably leads to poor exchange rates for tourists (we've seen as high as 20% commissions, although the average is between 5% and 15% of the amount exchanged).

For this reason, it's generally a better idea to use your credit or debit card to pay at local points of sale wherever possible or (if cash is urgently needed — which can happen in Turkey) to withdraw some money from a local ATM. This will let your card provider handle the conversion, which is usually, although not always, a better deal than bringing foreign currency into Turkey and exchanging it there. However, as we'll see below, a conversion-friendly debit card is the best choice of all!

ChangeGroup

ChangeGroup is a reliable option if you need physical Turkish lira in cash on hand before your flight abroad to Turkey. Although it's generally more affordable than exchange offices in Istanbul for buying lira banknotes, it's still quite pricey compared to using your card, hovering around 15%. This is why we tend to recommend Revolut and Wise for spending in Turkey.

• FX Margin to Lira: 10% - 16%
• Home Delivery: For a fee
• Cash Pick Up: Free
• Guaranteed Buyback: For a fee
• Availability: UK, USA, Australia, Germany, France, Austria, Spain, Denmark, Sweden, Finland

How to Pay in Turkey

Alain Bonnardeaux

When it comes to paying your way in Turkey, you'll have the following three options broadly speaking:

Method 1: Cash

As we mentioned earlier, cash is an important medium of exchange in Turkey. Pretty much all shops, restaurants, and commercial establishments around the country will accept Turkish lira banknotes, and we recommend having some on hand when you travel. Foreign cash can be purchased before your trip from your bank in your home country, or during your trip at a local Turkish bank or currency exchange office or (most affordably) from an ATM.

Note that in Turkey, currency exchange offices normally go by the name döviz, so if you want to exchange your home currency for Turkish lira, be on the lookout for signage with this name.

• Cash Prevalence in Turkey: Very prevalent
• Cost to Exchange: 5% - 20% on average

Method 2: Credit Card

Although cash is king in Turkey, credit and debit cards issued by major global providers like VISA and Mastercard are commonly accepted too. If your card is issued by American Express, Diner's Club, or another card company, there's a good chance they'll also be accepted in Turkey, but we recommend checking with your bank or card provider directly to make sure that Turkish lira currency conversion is indeed supported, and that card machines and ATMs in Turkey commonly support cards of this type.

• Card Prevalence in Turkey: Prevalent
• Cost to Exchange: 2% - 5% on average

Method 3: Travel Debit Card

Just like credit cards, prepaid debit cards (which are also normally issued by VISA or Mastercard) provide an excellent way to pay while visiting Turkey, the main difference being that you normally pay lower fees and exchange rates. Depending on where you live, you'll probably have options from your bank or a third-party provider to use a commission-free debit card or a multi-currency card which can help you dodge high Turkish lira conversion costs, including DCCs.

According to our analysis of dozens of providers, the top two options for travelling to Turkey, in general, are the following:

Revolut

Revolut is an excellent option for paying in Turkey. Its mobile all-in-one finance app and debit card offer competitive exchange rates to the Turkish lira and low fees. Moreover, you can easily manage everything through your money through Revolut's user-friendly app.

• Monthly fee: $0
• Card type: Mastercard debit
• Card payment cost in Turkish lira: 0.5% - 1.5%
• Cash withdrawal fee: 0% - 2%
• Turkish lira balance: Yes
• Turkish lira bank details: No

Wise Account

The Wise Account is another great option for paying in Turkish lira. It gives you the lowest possible currency exchange rates with complete transparency and no hidden fees. It also allows you to hold and manage over 50 currencies in one account and provides fast and secure cross-border money transfers at a fraction of the cost of traditional banks.

• Monthly fee: $0
• Card type: VISA debit
• Card payment cost in Turkish lira: 0.5% - 1.5%
• Cash withdrawal fee: 0% - 2%
• Turkish lira balance: Yes
• Turkish lira bank details: Yes

Wise and Revolut are excellent options that are available in many countries around the world. However, depending on where you live, you might have access to better deals still. We go over a few of them below:

United Kingdom

1. Revolut: Best spending and budgeting app.
2. Wise: Best for multiple foreign currency balances.

United States

1. Chime®: Best all around; no fees for non-USD transactions.
2. Revolut: Best all-around spending app.
3. Wise: Best for foreign currency spending and holidays.

Canada

1. KOHO: No foreign transaction fees on Extra or Everything plans.
2. Wise: Best for foreign currency spending and holidays.

European Union

1. Revolut: Excellent for spending abroad.
2. N26: Best full bank account with low fees (even abroad)
3. bunq: Best credit card (also a fully-licensed bank).