Cyprus money and currency guide: EUR, ATMs, and the north

Two currencies on one island: understanding the money situation

Cyprus is unique among Mediterranean destinations in having two different currencies operating simultaneously on the same island — a direct consequence of its political division. South of the UN Buffer Zone, the Republic of Cyprus uses the euro, which it adopted in January 2008. North of the Green Line, in the area administered by Turkey, the Turkish lira is the official currency, though tourism-facing businesses almost universally accept euros and British pounds.

This guide covers both sides and helps you plan your money management for a trip that may include both.

Republic of Cyprus: the euro

Currency basics

The Republic of Cyprus has used the euro since January 1, 2008, replacing the Cypriot pound. All transactions in the south are in euros. Prices at hotels, restaurants, shops, and tourist sites are quoted in euros. Bank accounts are in euros.

ATMs

ATMs (cash machines) are plentiful throughout the Republic of Cyprus. You will find them:

• At all three main airports (Larnaca, Paphos, Ercan in the north).
• In every city centre and major resort area.
• In most villages of any size.
• At petrol stations on major roads.

Major local banks include Bank of Cyprus (the largest), Hellenic Bank, and RCB Bank. All have ATMs that accept international Visa and Mastercard. Withdrawal limits and fees vary by your home bank — check your account’s international ATM fee structure before travelling.

Tip: ATMs at airports often offer “dynamic currency conversion” (DCC) — converting your withdrawal to your home currency at a poor exchange rate. Always decline DCC and choose to be charged in euros.

Card payments

Card payments are widely accepted across Cyprus:

• All hotels (including small guesthouses) accept cards.
• Most restaurants in cities and resort areas accept Visa/Mastercard. Some smaller village tavernas are cash-only — carry €20–40 in cash when visiting rural areas.
• Petrol stations: major chains accept cards; some rural stations are cash-only.
• Markets and small shops: cash preferred.
• Supermarkets: cards universally accepted.

Contactless payment (NFC) is standard at most terminals in the south.

What things cost in the Republic of Cyprus (2026 estimates)

Item	Budget range
Coffee (espresso)	€1.50–3.00
Beer (0.5L draught)	€2.50–4.50
Lunch (taverna, 2 courses)	€12–20/person
Meze dinner (per person)	€18–30/person
Taxi (Paphos city, 5 km)	€8–12
Hire car (per day, small)	€20–45 depending on season
Petrol (per litre)	€1.50–1.80
Archaeological site entry	€2.50–4.50
Sunbed pair + umbrella	€10–18

Daily budget guidance:

• Budget traveller (hostel/budget hotel, self-catering + one taverna meal): €50–70/person/day
• Mid-range (3-star hotel, meals out): €80–140/person/day
• Comfortable (4-star hotel, tours, meze): €140–220/person/day
• Luxury (5-star resort, private tours): €300+/person/day

Tipping culture

Tipping in Cyprus is appreciated but not compulsory. Norms:

• Restaurants: 10 percent is generous; rounding up is standard. Service charge is not typically included in bills at casual tavernas.
• Taxis: Round up to the nearest euro or add a few euros for good service.
• Hotel housekeeping: €1–2 per night left on the pillow.
• Tour guides: €5–10 per person for a full-day guided tour.

Northern Cyprus: the Turkish lira

Currency basics

Northern Cyprus officially uses the Turkish lira (TRY) as its currency. The exchange rate fluctuates significantly — check the current rate before visiting. In recent years, high inflation in Turkey has meant the lira devalues regularly.

Important: Do not exchange a large amount of lira in advance. The rate is better inside Northern Cyprus than at bureaux de change elsewhere in Europe, and the lira rate has been volatile.

Euro and GBP acceptance

The practical reality for most tourists: euros and British pounds are accepted at virtually all tourist-facing businesses in Northern Cyprus, including:

• Hotels and guesthouses in Kyrenia and Famagusta
• Restaurants and cafés in tourist areas
• Archaeological site ticket offices
• Souvenir shops

The exchange rate you will receive in lira for your euro or pound payment is at the discretion of the business — it is usually close to the current rate but not identical. For predictability, carry some lira for smaller purchases (markets, village shops, petrol stations).

ATMs in Northern Cyprus

ATMs exist in Kyrenia and Famagusta town centres, but the network is less dense than in the south. Most ATMs accept international Visa and Mastercard, though the machines may not offer the most favourable rate. Carrying enough euros from the south reduces ATM dependency.

Practical advice: Withdraw a modest amount of lira (equivalent of €30–50) from an ATM in Kyrenia on arrival, use euros for hotels and larger restaurants, and lira for markets and small purchases.

What things cost in Northern Cyprus (2026 rough guide)

Prices are expressed in euros for reference; actual prices are in lira:

• Coffee: €1–2 equivalent
• Lunch (local restaurant): €7–12/person equivalent
• Archaeological site entry: €2–5 equivalent
• Kyrenia harbour restaurant dinner: €15–25/person equivalent

Northern Cyprus is generally cheaper than the Republic of Cyprus for comparable quality.

Money tips for crossing the border

When crossing from south to north (or vice versa) at the checkpoints:

• Insurance desks at the checkpoint sell “Green Card” temporary vehicle insurance for Northern Cyprus (~€30 for standard coverage period). Your Republic of Cyprus hire car policy almost certainly does not cover the north. See renting a car in Cyprus.
• Bring your euros — sufficient for the day or overnight stay.
• No currency declaration requirements for normal tourist amounts.

What to book

Larnaca: Private Transfer to/from Larnaca Airport (LCA) Private Transfer from Larnaca Airport to Ayia Napa

Frequently asked questions about money in Cyprus

Can I use my UK bank card in Cyprus without fees?

Most UK high-street banks charge 2–3 percent foreign transaction fees plus possible ATM fees. Specialist travel cards (Wise, Revolut, Starling) offer better rates. Check your bank’s specific terms before travelling.

Is Cyprus an expensive holiday destination?

Mid-range — somewhat more expensive than Turkey or Egypt, cheaper than Western Europe. Budget €80–140/person/day for a comfortable holiday with restaurant meals and some activities. Peak summer (July–August) adds 20–40 percent to accommodation costs.

Do I need cash or can I use cards everywhere?

Cards work in most of the Republic of Cyprus, but carry €30–50 in cash for village tavernas, markets, small shops, and emergencies. In Northern Cyprus, carry more cash — card acceptance is less universal.

What is the cheapest way to get money in Cyprus?

Withdraw euros from an ATM at Larnaca Airport (decline DCC) or at your bank’s partner ATM network if one exists in Cyprus. Specialist travel cards (Revolut, Wise) typically offer near-interbank rates with no/low fees.

Can I use US dollars in Cyprus?

USD is not accepted in regular commerce (not in shops, restaurants, or petrol stations). Exchange USD for euros at a bank or bureau de change before arriving, or withdraw euros from an ATM.