Money Matters

Exchange

• Exchange rates in airports are lower than usual, so if possible try to exchange it in your own country or there will be a chance for you to go to an exchange bureau on the opening day.

Banking

• Banks are open Mon-Fri 09:00-17:00. Automatic Teller Machines (ATMs) are available throughout the city, including few in our own Robert College campus.

Credit Cards

• Visa and Master credit cards are accepted by hotels, shops and restaurants. Some accept American Express as well.

Currency

• Turkish currency is Turkish Lira (TL). The banknotes are 5 TL, 10 TL, 20 TL, 50 TL, 100 TL and 200 TL. There is coinage for 1 Kurus, 5 Kurus, 10 Kurus and 25 Kurus.  100 Kurus (Krs) equals to 1 Turkish Lira.

Value Added Tax

• Value Added Tax rates are from 1%  to 18% depending on the goods.

VAT Refunds for Visitors
You can ask for VAT refund if

• Your total purchase in store is more than 100 TL

• You are foreign citizen / You are a Turkish citizen living abroad.

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Offices for refund are available in the airports. For refund, you must bring your purchases, receipt and passport.