Money in Cyprus

Two currencies on one island

The Republic of Cyprus uses the euro, having joined the eurozone in 2008, and it is the only legal currency across the south — Limassol, Paphos, Nicosia, Larnaca and the eastern resorts. The northern part of the island uses the Turkish lira. Most visitors spend their whole trip in the south and never need anything else. If you are crossing for a day, take lira: euros are informally accepted at tourist businesses on the other side but at rates that favour the seller, and exchange facilities at the crossings themselves are limited. Changing money before you travel is rarely worth the effort for the euro — a card withdrawal on arrival is simpler and usually cheaper.

ATMs are dense in the south and thin in the mountains

The Republic has an extensive ATM network. Bank of Cyprus, Hellenic Bank and Eurobank machines are in every city and resort area, they take international Visa, Mastercard and Maestro, and both southern airports have them landside and airside — withdrawing on arrival beats the airport exchange kiosks, whose rates are consistently worse. Where coverage genuinely thins is the Troodos mountain villages and the smaller stretches of coast, so draw cash before a day inland rather than assuming you will pass a machine. Daily withdrawal ceilings are set by your own bank at least as much as by the machine, so check yours before depending on one large withdrawal.

Cards almost everywhere, cash in the villages

The south is highly card-friendly: Visa and Mastercard work at effectively all hotels, restaurants, shops and ticketed sites, and contactless phone payment is supported at modern terminals throughout the cities and resort towns. American Express is accepted at upmarket hotels and some restaurants but is not something to rely on. The exceptions are predictable and worth planning for — village tavernas, mountain workshops, produce markets and the smaller archaeological sites often want cash. One rule matters more than the rest: if a card terminal offers to charge you in your own currency instead of euros, decline it. That conversion is priced by the terminal's provider and it is never in your favour.

Where Cyprus sits on Mediterranean prices

Cyprus is mid-range for the region — cheaper than Malta or the popular Greek islands, roughly comparable to southern Spain, and noticeably better value than Western Europe for the same standard of room. The spread within the island is wider than the spread between Cyprus and its neighbours: a seafront restaurant on a resort strip and a village taverna twenty minutes inland are different propositions entirely, and the inland one is both cheaper and usually better. State-run archaeological sites are inexpensive by any European standard, which makes the ruins the best-value thing on the island. Summer is peak and priced accordingly, with the eastern resort towns the sharpest example. Tipping around 10 per cent in restaurants is the normal expectation; check first whether a service charge is already on the bill.