| What is the local currency? |
| Turkish lira (TL). |
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| What denominations does it come in? |
Notes: 250 thousand, 500 thousand, 1 million, 5 million, 10 million and 20 million
Coins: 25 thousand, 50 thousand and 100 thousand |
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| What is the best way to exchange currency? |
| Using a bank is the most common method, but there are many money changers in and around the tourist spots and high streets. |
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| What are commonly-used forms of payment for everyday purchases (such as groceries)? |
| Credit cards, local bank cards and cash. |
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| Will I be able to use my credit card around town? If not, list when I’ll need cash. |
| Most major credit cards are accepted, but it is wise to carry cash when using local shops and bars. |
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| By what method are bills (such as rent and utilities) paid? |
| Some bills can be paid through local banks (if you have an account) and this is by far and away the simplest method. However, the payment of bills can be quite difficult for some foreigners as they are all printed in Turkish and often don't arrive on time or at all on some occasions! Local assistance on managing home accounts and bill payments is recommended. |
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| What are the requirements for opening a bank account? At what stage of the settling-in process should I open it? |
| This is a fairly simple process and recommended for managing home accounts. Many of the larger Turkish banks will allow you to open an account with a letter from your employer and a view of your passport. |
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| Will foreign residents be able to find banking services in their native languages? |
| This is limited. Some banks employ staff with foreign language skills, but these tend to be limited to English or German. Internet banking is only available in Turkish at this time, but most of the major banks are planning to offer other languages in the future. Most ATM services are multi language. |
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| Are there any restrictions on services for those who are new to your country? |
| No. |
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| What are typical banking hours? |
| 9:00 AM to 5:30 PM, Monday to Friday. Some banks have a limited number of branches open on Saturday morning. |
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| Are automatic teller machines (ATMs) available around the clock? |
| Yes, they are. |
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| Is there any other money information that might help me? |
| Get used to counting in millions! The exchange rate fluctuates a great deal and mental conversion of currencies can be a nightmare. |
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| Useful Links |
Citibank
www.citibank.com.tr
HSBC
www.hsbc.com.tr |