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holiday money
(15 Messages in 2 pages - View all)
[1] 2
1.       Tracyle
1 posts
 01 Oct 2008 Wed 04:42 pm

I am going to Turkey for a week on 13th October.

I need to take spending money with me. What´s the best currency to take?

Should I take sterling or euros and change it once I get there or change it in UK before I go?

 

2.       turquoise
938 posts
 01 Oct 2008 Wed 05:05 pm

you can change your money in the Ataturk airport and pound is the best currency cuz 1 pound is 2.25 TL

3.       Trudy
7887 posts
 01 Oct 2008 Wed 05:24 pm

Changing money at airports is imo the thing you should NOT do. Rates at offices there are always lower than elsewhere. I always use ATM´s and have (some) Euro´s cash for only emergencies. Even when your bank charges you for using ATM´s, the difference in rates is worth it.  

4.       MarioninTurkey
6124 posts
 01 Oct 2008 Wed 05:33 pm

Agree with Trudy!  Airport banks charge a whacking commission.

 

The best places are at licenced moneychangers called DÖVÝZ offices.

 

They have a ticker board up showing the current rate, and the rate they show is the rate you get e.g. 1.20 YTL = 1 USD.  If you give 100 USD you get 120 YTL: no hidden deductions for commission etc.

 

But you need clean notes, with no tears or tape or writing on them.

 

ATMs are good - you can access them all over.  But your bank may give you a bad rate, and may make a charge every time you withdraw.  But it is safer than carrying all that cash.

 

NEVER NEVER bring travellers cheques to Turkey.  They are a nightmare, as most places dont cash them, and those that do may want you to show a Turkish tax number!  I wasted about 6 hours trying to get them changed for a visitor of mine last April.

 

5.       Trudy
7887 posts
 01 Oct 2008 Wed 05:43 pm

 

Quoting MarioninTurkey

ATMs are good - you can access them all over.  But your bank may give you a bad rate, and may make a charge every time you withdraw.  But it is safer than carrying all that cash.

 

 

I can´t say anything about British banks and I think there are differences between the various banks but my bank always gives me the same rate as I see at http://www.oanda.com/convert/classic and charges me 1.82 Euro (1,45 GBP) per withdraw. 

 

You should check what your bank charges you before you leave and - if possible - maybe open an account at a bank with better charging rules.

 

Todays rate at oanda.com for 1 GBP is 2,29044 YTL.

6.       MarioninTurkey
6124 posts
 01 Oct 2008 Wed 05:49 pm

 

Quoting Trudy

I can´t say anything about British banks and I think there are differences between the various banks but my bank always gives me the same rate as I see at http://www.oanda.com/convert/classic and charges me 1.82 Euro (1,45 GBP) per withdraw. 

 

You should check what your bank charges you before you leave and - if possible - maybe open an account at a bank with better charging rules.

 

Todays rate at oanda.com for 1 GBP is 2,29044 YTL.

 

 Just to compare... I googled a döviz buro and they give the following for today: 2.28  So you are getting a good rate.  Just the doviz buro charges no commission.

 

 

 

7.       Trudy
7887 posts
 01 Oct 2008 Wed 05:57 pm

 

Quoting MarioninTurkey

 Just to compare... I googled a döviz buro and they give the following for today: 2.28  So you are getting a good rate.  Just the doviz buro charges no commission.

 

 Their commission is built in the rates they offer!

8.       MarioninTurkey
6124 posts
 01 Oct 2008 Wed 06:27 pm

 

Quoting Trudy

 Their commission is built in the rates they offer!

 

 Agree.  It depends on how much you are exchanging and how often as to which is best!

 

50 euro every day and the döviz is better.  500 euro once, and the bank ATM is better.

 

We have just proved the moral of the tale: do your research and make a smart decision according to your circumstances.

 

BTW: The bank at the airport probably gives 2.10 AND charges 5% commission!

9.       lady in red
6947 posts
 01 Oct 2008 Wed 06:29 pm

 

Quoting Trudy

 Their commission is built in the rates they offer!

 

Trudy - today´s rate in the Bureau de Change here was 2.13 ytl /UK£  - not sure what to the Euro as I don´t do Euros! .  I would definitely stick with the ATMs - that´s what I always used to do.

10.       peacetrain
1905 posts
 01 Oct 2008 Wed 06:32 pm

I agree with Marion.  I always change my money there when I get to Turkey.  This year I was caught short in the back of beyond and my friend took me to a jeweller to change my money.  I think I got a slightly worse rate but it was handy in an emergency.  They also had the rates up on a board, together with the price of gold, but I passed on that offer .

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