Cyprus, with its blend of ancient ruins, stunning beaches, and Mediterranean charm, is a fantastic destination where managing money wisely ensures a smooth journey. Whether you’re exploring the archaeological wonders of Paphos, relaxing in a seaside resort, or enjoying local mezze in a traditional taverna, this guide covers everything you need to know – what currency to bring, the best ways to get money and currency in Cyprus (Euro (EUR)), cash safety tips, and essential dos and don’ts. With these insights, you’ll avoid unnecessary fees and fully enjoy Cyprus’s rich history and warm hospitality.
How to pay in Cyprus – cash or card?
In Cyprus, both cash and card payments are widely accepted, with a notable trend towards electronic transactions. The official currency is the Euro (€).
You can use cash for:
Small Businesses and Local Markets: Some small shops, traditional markets, and rural establishments may prefer cash transactions.
Tips and Gratuities: While service charges are often included in bills, leaving additional tips in cash is customary for exceptional service.
Small and local tour operators
You can use card for:
Retail Stores: Shopping centers, boutiques, and supermarkets commonly accept credit and debit cards.
Hotels and Resorts: Major hotels and resorts widely accept credit cards for bookings and incidental expenses.
Restaurants and Cafés: Most dining establishments, especially in urban areas, facilitate card payments.
Car Rentals and Excursions: Established agencies typically offer card payment options.
Large tour operators
In summary, while digital payment methods are widely accepted and increasingly popular in Cyprus, it’s prudent for travelers to carry some cash for transactions in areas or establishments where card payments may not be feasible.
What’s the best currency to take to Cyprus
Euro (EUR) is typically the best currency to take if you are traveling to Cyprus. Paying or withdrawing cash in the local currency comes with the least amount of fees, sometimes fee-free too.
While credit and debit cards are widely accepted, especially in urban areas, some rural regions and smaller establishments may prefer cash payments. Therefore, it’s advisable to carry some Euros in cash to avoid inconveniences.
Other currencies, such as US Dollars or British Pounds, are not widely accepted here.
Where to get currency in Cyprus
There are 3 main ways to get cash in Cyprus. They are:
ATMs, or
Currency exchange, or
Money transfer & local pick-up
Types of cards to swipe in Cyprus
Visa and Mastercard transactions are commonly accepted for swiping. You might also find some places that accept Amex and other cards, albeit less frequently.
Types of cards at ATMs in Cyprus
If you’re withdrawing money in Cyprus from an ATM, ATMs commonly accept Visa, Mastercard, Maestro, Plus, Cirrus cards. Some of them accept JCB cards. Others like American Express, UnionPay, Diners, Discover and Rupay cards are generally not accepted.
Should I exchange money before travelling to Cyprus
Bringing a small amount of Euros (EUR) before traveling to Cyprus can be useful for immediate expenses like taxis, tips, and small purchases. However, if your home country does not use the Euro, it is usually better to exchange money upon arrival in Cyprus for more favorable rates.
Withdrawing EUR from ATMs in Cyprus is a convenient option, as ATMs are widely available in airports, cities, and tourist areas. Most ATMs accept Visa, Mastercard, Cirrus, Plus, and Maestro cards, but check with your bank for international withdrawal fees.
It’s generally not recommended to exchange money at airports or hotels, as their rates tend to be less favorable. Instead, use local banks or authorized exchange bureaus in the city for better rates.
Carrying a mix of cash and cards is advisable, as credit and debit cards are widely accepted in hotels, restaurants, and shops. However, some smaller businesses may prefer cash, especially in rural areas.
Where to withdraw money in Cyprus
You can withdraw money in Cyprus at leading bank ATMs in the country. The best ATMs for foreigners to use in Cyprus are those owned by popular banks such as:
- Bank of Cyprus,
- CDB Bank,
- Hellenic Bank,
- Astro Bank, and
- Alpha Bank.
There are other banks with ATMs that also accept international debit and credit cards.
There are no known Global ATM Alliance member banks or All Points network banks in Cyprus.
Where to exchange currency in Cyprus
You can exchange currency in Cyprus at licensed currency exchange offices and banks branches.
- Notable Currency Exchange Offices include Prosegur Change and OneExchange.
- Banks like Bank of Cyprus also offer currency exchange services.
- Currency Exchange in Northern Cyprus: In Northern Cyprus, the Turkish Lira (TRY) is the official currency. Currency exchange shops such as Sundöviz Exchange (located in Kyrenia and Nicosia), Kıbrıs Döviz (based in Nicosia), and Desly Exchange (in Famagusta) are known for offering competitive rates and trustworthy services.
Avoid Airport Exchanges and no-fee exchange offices: Currency exchange services at airports often have less favorable rates and higher fees. It’s generally better to exchange money in the city for better rates and lower charges.
You can find good currency exchanges in Cyprus using the ATM Fee Saver app – it will guide you to the nearest currency exchange on the map. The app helps you with forex places in 100+ countries, including Cyprus.
Is carrying cash in Cyprus safe?
Carrying cash in Cyprus is generally safe due to the country’s low crime rate. However, petty crimes like pickpocketing can occur in crowded areas and tourist spots. It’s advisable to carry only the cash you need for daily expenses and keep your valuables secure. Be aware that as of December 2024, Cyprus has implemented a law restricting large cash transactions to strengthen anti-money laundering efforts. Cash transactions for goods, services, and real estate are now limited to €10,000 or the equivalent in other currencies.
To keep your cash safe:
- Carry only necessary amounts: Withdraw or carry only what you need for daily expenses.
- Be discreet: Avoid displaying large sums of money in public.
- Stay vigilant: Be aware of your surroundings, especially in crowded areas and on public transport.
- By following these precautions and adhering to local regulations, you can minimize the risk of theft and handle cash safely during your visit to Cyprus.
Is it better to use debit or credit cards or pay by cash in Cyprus
Use a card if it is fee-free i.e. your bank does not charge any fees to swipe the card, when the merchant / POS also does not impose any extra charge to use a card, you need to use the insurance of the card, don’t want to block cash of large purchases and card’s swipe fees are lower than withdrawal fees.
Pay by cash by withdrawing cash from ATM or exchanging currency where – fees on ATM withdrawals are lesser than fees on swiping cards, you don’t want to leave any digital footprint of your expenses, it is convenient and easier to conduct transactions.
