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MONEY AND BANKS |
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Turkish currency is the lira, abbreviated as TL. There are coins of
50,000 (written on the coin as "50 bin") and 100,000, and notes of
250,000, 500,000, 1,000,000, 5,000,000 and 10,000,000. Bear in mind that
the 5,000,000 note looks very similar to the old 100,000 one, and it's
not unknown for visitors to be fooled into accepting the worthless lower
denomination. Rates for foreign currency are always better inside Turkey,
and because of the TL's constant devaluation you should change money
only as you need it. Many pensions and hotels, particularly in the
popular destinations, will quote prices in US dollars as well as TL and
you can pay in both.
Banks are open mainly Mon-Fri 8.30am-noon & 1.30-5pm, although some,
notably Garanti Bankasi, open at lunchtimes and on Saturdays. Most
charge a commission of about US$2.50 for travellers' cheques. Between
April and October many coastal resorts between Çanakkale and Alanya have
weekend and evening hours at specific nöbetçi banks; a list is posted in
the window or door of each branch. You can also use the exchange booths
run by banks in coastal resorts, airports and ferry docks, though some
charge a small commission. Easiest option is a private exchange office,
which will offer competitive rates and charge no commission. Almost all
bank branches have ATMs which accept Cirrus and Plus, but it's wise to
use them during banking hours in case your card is swallowed; avoid
stand-alone ATMs for the same reason. Post offices in sizeable towns
also sometimes change currency and travellers' cheques, for a one-percent
commission.
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