You’ve booked your Kalkan break and your departure date is getting closer. As well as the building excitement, you are probably feeling some stress. Preparing for a trip abroad is not all plain sailing. On top of important things like meeting your work deadlines and arranging pet care you have logistical tasks to complete. Your mind is buzzing with questions. Have I printed off my boarding passes? Is my luggage weight ok? What is the exchange rate right now? Do I have enough local currency to see me through my first day?
Your Currency Questions Answered
Coming to Turkey on holiday and getting used to using ‘Foreign Money’ can sometimes be a little confusing right? How much should I change? Where will I get the best exchange rate? Should I obtain my foreign currency in my home country or wait till I get to Turkey? No matter how seasoned you are at travelling, these are questions we ask ourselves time and time again. It can actually make a big difference to how much fun we have. You don’t want to be worrying about finances on holiday. And the more you have to spend, the better – obviously! Read on to learn our insights about managing money and exchanging currency in Kalkan.
Do I Bring Turkish Liras, Sterling, or Euros?
We’re sure you have concluded that carrying cash on you in Kalkan is a must. But what kind of currency could it be? Hotels may request (or desire) that you pay in GBP or EUR and offer you a favourable rate for doing so. But in general, for all your other expenditures you can use Turkish Lira. The culture of bartering is still widely present in Turkey. So having cash for a trip to the market or for more luxurious items can be favourable for getting you the best price.
So, if your accommodation is offering a great discount if you pay cash in a strong currency, take the requested amount with you and pay for your stay when you arrive. This way, you won’t have to carry large wads of cash with you when strolling through the town. After that, it’s a personal choice. Some visitors carry additional cash with them and swap it for Turkish Liras when they run short, while others use the ubiquitous ATMs to withdraw Turkish Liras.
Cash From ATM’s
Most Turkish ATMs accept MasterCard (Cirrus and Maestro) and Plus (Visa) cards. You can also locate the closest one online, using MasterCard’s ATM locator or Visa’s ATM locator. Turkish ATMs accept chip-and-pin cards and cards that only have a magnetic stripe on the back. However, they only accept four-digit PINs.
Where are they located?
ATM cash machines in Kalkan are easy to find as 95% of them are located on the same street. The main high street is lined on either side with banks all of which have ATM’s outside. Walk uphill from the taxi rank at the top of the Old Town and keep your eye open you will soon spot a bank.
Exchanging Currency in Kalkan; Do’s and Don’ts
One of the most frequently asked questions on Kalkan forums is regarding the exchange rate in Turkey compared to the UK. Rest assured in our many years here in Kalkan we can confidently say that exchanging your currency locally rather than before you travel will maximise your spending pot. You can check on what the local currency rates should be on the Turkish central bank website or the widely used doviz (meaning foreign currency) website to give you an idea of what to expect.
Sample exchange rates
Let’s make a comparison between UK travel money providers and local Kalkan based exchange outlets for today’s date 06.10.21
The UK rates have been sourced from money.co.uk and show the top 10 rates offered for Turkish Lira. The Kalkan rates are sourced from the PTT (post office), exchange bureau and jewellers.
|UK Top 10 Lowest||For £500 you get||UK Top 10 Highest||For £500 you get||Kalkan Lowest||For £500 you get||Kalkan Highest||For £500 you get|
|10.513||5,256.50 Turkish Lira||11.696||5,848.00 Turkish Lira||11.851||5,925.50 Turkish Lira||12.022||6,011.00 Turkish Lira|
Where can I exchange my money in Kalkan?
There are numerous choices available to you. As the pound continues to be a strong currency you will find many establishments who are willing to change up your Sterling for Liras. You can easily spot places willing to exchange currency as they advertise on boards outside their entrances. Keep your eyes peeled for these as you stroll through the town and make a note of the rates so you can select the most lucrative place for that day. A few centrally located and well-known options are detailed below:
Post Office (PTT in Turkish)
Most post offices in Turkey will convert currency for US dollars or euros, and larger post offices may also exchange other significant currencies like the British pound sterling. Due to the number of British tourists who frequent Kalkan the local PTT readily exchanges GBP.
Located just next to the post office the Kalkan exchange bureau offers better exchange rates than most banks. They are open day and night and offer exchange on a wide range of currencies.
Some of Kalkan’s well known and trusted jewellers like Yardan and Wishes & Co. will readily change currency for you and advertise their daily rates on a board outside their premises.
Like the jewellers there are numerous gift shops dotted around the town who will be glad to change up your Sterling or Euros for Lira. Just look out for the boards and take your pick of the best rate you can spot.
Exchange Your Money at the Airport:
Airport bureaus consistently provide the poorest foreign exchange rates. Be prepared to accept up to an 11% commission! So, if you bring £1000 in cash, you’ll only be receiving £890 once the charge is deducted. That’s £110 you could have spent on drinks, day excursions, or dinners out.
Top Tips to Consider
1. Change your money in Turkey. You always get a better rate for Turkish Lira in Turkey than you will in your home country.
2. Always compare the rates by looking at different places. You might be surprised just how much they can vary.
3. Rates always seem to be better when the banks are open. So, after 5pm when the online trading rates are not available, you might find the rate will drop. The same goes for the weekend. We always find the best rates are available from Tuesdays to Thursdays.
4. When you have changed your currency, always count your money and check you have been given the correct amount at the point of exchange. Check it even if the server uses a counting machine or counts it out right in front of you.
5. Most exchange places do not charge a fee or commission for exchanging your currency. But do check in advance to avoid any shocks.
6. Use the calculator on your phone to check what you get is what you expected.
What about alternatives to cash?
Using your debit card may seem like the most practical option. After all, your debit card is already in your pocket. Each time you pay with your bank card abroad, you could be paying hefty currency exchange fees. Take, for example, a Halifax debit card. Each point-of-sale transaction would cost £1.50, and each ATM withdrawal would cost £1.50. In addition, a conversion cost of 2.99 % is paid each time so it’s pretty expensive. In short, you are getting fewer Turkish lira for your pounds sterling.
App-based banks and Prepaid card providers
Consider using a Monzo account or the Revolut App to get the best deal when using your card internationally. You can make use of some great beneficial features like £200 free cash withdrawal abroad, competitive exchange rates and no fees on payments made with your card when overseas. They do have slightly different approaches. Monzo is a more fully featured bank account, whereas Revolut functions as a prepaid debit card that lets you make payments in various currencies and has some additional financial services. Both offer support and advice for travelling. You can check out helpful blogs from Revolt and get travel reports from Monzo updating you on the current exchange rate for the country you are in. You can also get support from online communities who can guide you with any questions you have about using these services.
How can Kalkan Holiday Property Help?
If you are looking for a luxury villa or stylish apartment for your Kalkan visit you can peruse our varied property collection to find what you are looking for. Our experienced team are on hand to help you through the booking process and even plan your holiday itinerary, so you know how much to budget for. We are on the ground all year round and have a wealth of local knowledge so contact us for any queries you may have about your trip.