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Banking and Currency Exchange


North Cyprus Banking System

Northern Cyprus uses the Turkish Lira (TL) currency. There are many currency exchange offices in all of the major towns, all of which will change Sterling to Turkish Lira. You can also exchange money at one of the many banks in Northern Cyprus. Most banks have English speaking staff who are happy to help with exchanging  money or opening up a bank account.

It is often better to wait until you get to North Cyprus to change your money into Lira, as the exchange rates tend to be much better than those in the UK. You can check the current exchange rates on sites such as http://monexcyprus.com/

In the main town of Kyrenia  there is a branch of the HSBC bank, this is popular with English tourists and expats. As with all banks a ticket system is used to be severed by the cashier. On arrival you take a ticket from the machine near the door and wait to be called. Other banks in Northern Cyprus include; Iktisatbank, Creditwest, Turk Bank and Is Bank.

Accounts can be opened in Lira or sterling and a time deposit accounts pay a high rate of interest per month.

The banks operate summer and  winter working hours.  Please be aware that summer hours are usually  8.00am -1.00pm  and winter hours usually  8.30am-3.30pm.

Cash machines are widely used and  some ATM machines give you the option of withdrawing Lira, Euros and Dollars, however check with your bank before your holiday regarding foreign use charges and to ensure that your card is activated for use abroad.

Kelly Sheppard
Kelly Sheppard
Kelly Sheppard is a contributing writer to North Cyprus.co.uk, where you can find extensive information about North Cyprus, including places to see, things to do and sites of historical interest. She has lived and worked in Northern Cyprus for nearly 5 years, and in her spare time is interested in finding out new information and researching topics for the site.