I am often asked what payment options are available in North Cyprus. People are then surprised by the many ways one can pay on the island. And so there is a quick answer and a detailed answer.
Quick Answer: Use cash for small purchases, local markets, and transportation. Use cards for hotels, restaurants, and larger stores. Carry Turkish Lira (TRY) for daily expenses as it’s the primary currency.
Key Points:
- Currency: Turkish Lira (TRY). Some places accept Euros, GBP, or USD, but change is given in TRY.
- Cash: Essential for small shops, public transport, and rural areas. Exchange money locally for better rates.
- Cards: Visa and Mastercard widely accepted in tourist areas. Avoid dynamic currency conversion (DCC) fees by paying in TRY.
- ATMs: Available in cities; use those at banks for lower fees.
- Digital Payments: Contactless options like Apple Pay are growing but capped at €50 per transaction.
Cash vs. Cards: Quick Comparison
| Factor | Cash | Cards |
|---|---|---|
| Acceptance | Universally accepted | Best in urban/tourist areas |
| Fees | None | May include foreign transaction fees |
| Security | Risk of theft/loss | Better fraud protection |
| Convenience | Requires carrying cash | Contactless and easy to use |
| Best For | Small/local purchases | Hotels, restaurants, and large purchases |
Tip: Use a mix of cash and cards to ensure smooth transactions during your trip.
Using Cash
Local Currency and Exchange
In Northern Cyprus, the primary currency is the Turkish Lira (TRY). While some businesses may accept British Pounds, Euros, or US Dollars, any change will always be given in Turkish Lira. As of March 1, 2025, exchange rates at Monex Exchange are as follows: GBP at 45.70/46.10, EUR at 37.70/38.10, and USD at 36.30/36.60.
For the best rates, head to reputable exchange offices in major cities:
- Monex Exchange in Kyrenia: No commission fees
- Sundöviz Exchange in Kyrenia and Lefkosa: Competitive rates
- Kıbrıs Döviz in Lefkosa: Fast transactions
- Desly Exchange in Famagusta: Trusted service
"You get better value for your Euros, British Pounds and US Dollars, as the rates are relatively more competitive than leading UK travel money providers, and there are no commission charges." – Monex Exchange
These competitive rates highlight the advantages of exchanging cash locally. Below, we explore the main benefits and challenges of using cash in Northern Cyprus.
Cash Benefits and Limitations
Cash remains the preferred payment method, especially outside tourist areas. High inflation, which reached 42.17% in 2024, has shaped how locals handle payments.
Benefits of using cash:
- Accepted almost everywhere, including small shops and local markets
- No transaction fees, making it ideal for everyday expenses like public transport
- Gives you more leverage when negotiating prices in markets
Limitations of cash:
- Inflation means you’ll need to carry more cash for daily expenses
- Torn or damaged banknotes may be refused
- Exchange rate changes can impact the value of your money
- Carrying large amounts poses security risks
Helpful tips for using cash:
- Bring a valid ID when exchanging money
- Compare rates across different exchange offices
- Exchange during quieter times to avoid long waits
- Inquire about discounts for exchanging larger amounts
- Keep your banknotes in good condition to avoid issues
Since most businesses don’t consistently accept foreign currencies, having Turkish Lira on hand is essential for day-to-day transactions.
Using Cards
Where to Use Cards
In Northern Cyprus, card payments are a secure and modern alternative to cash. Visa and Mastercard are the most commonly accepted options, and their usage is steadily increasing across the region.
Here’s a quick look at where you can typically use cards:
| Location Type | Card Acceptance | Notes |
|---|---|---|
| Hotels & Resorts | Usually accepted | Major cards are generally welcome |
| Restaurants | Commonly accepted | |
| Retail Stores | Varies by location | Easier to use in tourist areas |
| Supermarkets | Usually accepted | Larger chains are more reliable |
| Local Markets | Rarely accepted | Cash is a better choice |
| Public Transport | Not accepted | Cash only |
| Taxis | Sometimes accepted | Confirm with the driver first |
ATMs are easy to find, with roughly 500 machines across the region. Stick to ATMs at established banks, as those in convenience stores or bars often charge higher fees.
"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!" – Chris Lilly, Head of publishing at finder.com
Card Benefits and Limitations
Cards are a convenient option in urban and tourist areas, offering secure and contactless payment methods. For purchases under €20, contactless payments make transactions faster. Additionally, card payments are considered secure, with minimal reports of scams.
Possible Fees to Watch Out For:
- Foreign transaction fees (around 3%)
- ATM withdrawal fees
- Cash advance charges
- Dynamic currency conversion (DCC) fees – always pay in Turkish Lira to avoid extra costs
Tips for Smooth Transactions:
- Notify your bank about your travel plans to Northern Cyprus
- Use a credit card with no foreign transaction fees
- Always choose to pay in Turkish Lira instead of DCC
- Keep your bank’s contact details handy
While cards are convenient, carry a backup card and some cash, especially when venturing outside tourist hubs. Balancing the use of cards and cash ensures you’re prepared for any situation.
Cash vs. Cards: Quick Compare
Main Differences
Here’s a side-by-side look at using cash and cards in Northern Cyprus:
| Factor | Cash | Cards |
|---|---|---|
| Acceptance | Works everywhere for daily use | Widely used in tourist spots and big venues |
| Transaction Speed | Instant | Quick, especially with contactless payments |
| Security | Can be lost or stolen | Offers better fraud and theft protection |
| Cost | No extra fees | May include foreign transaction fees |
| Budgeting | Easier to control spending | Tracks expenses digitally |
| Convenience | Requires trips to ATMs | No need to carry physical cash |
With non-cash transactions increasing by 15% in 2023, more people are leaning toward digital payments.
Practical Tips by Venue
Here’s a breakdown of where cash or cards work best:
| Venue Type | Best Payment Method | Notes |
|---|---|---|
| Hotels & Resorts | Cards | All major cards are accepted |
| Restaurants | Both | Cards are common in tourist spots |
| Local Markets | Cash | Handy for bargaining |
| Public Transport | Cash only | Cards aren’t an option |
| Street Vendors | Cash only | Ideal for quick purchases |
| Supermarkets | Both | Chains usually accept cards |
Things to Keep in Mind
- Transaction Limits: Contactless payments are capped at €50.
- ATM Access: Easily available in urban areas for cash withdrawals.
- Security: Cards provide better protection against theft and fraud.
- Spending Control: Using cash can help avoid overspending.
For a hassle-free experience, use cards at larger venues like hotels and supermarkets, and stick to cash for smaller, local transactions. This mix ensures smooth payments wherever you go.
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Best Times for Each Payment Type
Knowing when to use cash or cards can help you manage your spending more effectively during your trip to Northern Cyprus.
When to Pay Cash
There are certain situations where cash is the better option:
Local Markets and Small Shops
Many vendors in local markets and small shops only accept cash, so keep some on hand for these purchases.
Transportation
Cash is often required for taxi rides and Dolmuş (shared minibus) services.
Rural Areas
If you’re exploring areas outside the main tourist hubs, cash becomes essential. Many businesses in rural regions don’t have card payment options.
Cross-Border Travel
Planning to visit South Cyprus? Make sure to carry Euros in cash, as they are often needed for transactions.
For more modern or tourist-focused settings, cards are typically a better fit.
When to Use Cards
Cards are ideal for:
Major Establishments
Visa and Mastercard are widely accepted at:
- Hotels and resorts
- Shopping centers
- Chain restaurants
- Large supermarkets
Large Purchases
For bigger expenses, using a card adds convenience and security. Examples include:
- Hotel bookings
- Car rentals
- High-value retail purchases
- Restaurant bills in tourist-heavy areas
Keep in mind, American Express is less commonly accepted compared to Visa and Mastercard. Always confirm accepted payment methods with the establishment beforehand.
To cover all payment needs, use cards for larger transactions and cash for smaller, everyday purchases.
Money Management Tips
Balancing Cash and Cards
When managing payments in Northern Cyprus, it’s smart to use a combination of cash and cards. While non-cash transactions grew by 15% in 2023, having both options offers flexibility and convenience.
- Daily Budget Planning
Here’s an example of what your average daily expenses might look like (in US dollars):
| Expense Category | Average Daily Cost |
|---|---|
| Accommodation | $103 |
| Transportation | $13 |
| Meals | $45 |
| Entertainment | $13 |
| Total | $174 |
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Smart Card Usage
Consider using a Wise Multi-Currency Card. It has a $9 delivery fee, offers 2 free ATM withdrawals (up to £200 monthly), and provides clear currency conversion rates with lower fees. -
Cash Management
Carry $50–$100 in Turkish Lira for immediate expenses like transportation or small purchases.
Once you’ve figured out your budget and payment preferences, focus on keeping your funds secure and tracking your spending.
Security and Budget Planning
Protecting your money goes hand-in-hand with choosing how to pay. Here are some tips to help you avoid any financial hiccups during your trip.
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Cash Security Measures
Distribute your cash across multiple locations, such as inner pockets, a toiletry bag, or securely hidden on your person. Use your hotel safe for extra cash when available, and keep emergency funds separate from your daily spending. -
Card Protection
Stick to ATMs at reputable banks, shield the keypad when entering your PIN, and always opt to be charged in Turkish Lira to avoid extra conversion fees. Keep your bank’s emergency contact info handy in case of any issues. -
Digital Payment Tips
Contactless payments are capped at €50, and most businesses accept Visa and Mastercard. Mobile payment options like Apple Pay and Google Wallet add an extra layer of security.
"Despite the higher cost, if you still want to purchase travellers cheques, it’s better to buy euro‑specific cheques. That will make them more likely to be accepted at local businesses and without having to deal with the hassle of paying high conversion fees. Nowadays, however, it’s better to simply use cash or a debit or credit card if you can, which are far more likely to be accepted in Cyprus." – Wise
- Pre-Trip Financial Planning
Download your bank’s mobile app to monitor your accounts easily and set up travel notifications to avoid any disruptions while abroad.
Conclusion
Main Points Review
The payment landscape in Northern Cyprus is changing, with non-cash transactions growing by 15% in 2023. This reflects the region’s increasing shift toward digital payment options.
Here’s a quick breakdown of the main payment methods in Northern Cyprus:
- Cash: Best for public transport, small purchases, and tips. Carry Turkish Lira for everyday expenses.
- Cards: Convenient for hotels, restaurants, and retail stores. Contactless payments are widely used but capped at €50 per transaction.
- Digital Wallets: Accepted by many modern businesses and provide a practical alternative.
Travel Payment Tips
To ensure a hassle-free trip, use a mix of cash and cards. Cards are great for hotels, restaurants, and larger retailers, while cash is essential for local markets, public transportation, and smaller vendors.
Keep these tips in mind:
- Use cards in tourist-heavy areas for added security and ease.
- Carry cash for places that don’t accept cards.
- Digital wallets like Apple Pay and Google Wallet can streamline payments at compatible locations.
When paying by card, always choose Turkish Lira to avoid dynamic currency conversion fees.
