Just landed - wondering what gives the better rate in Turkey: ATM withdrawal or airport exchange counter?
I landed at IST last month and the exchange counter near baggage claim was offering 10-12% worse rates than the official mid-market rate. I used a Yapı Kredi ATM just outside the arrivals area and got a much better deal. Just remember to decline currency conversion when the ATM asks.
ATMs consistently offer better rates (typically 5-15% better). Airport exchanges have hidden fees in the rate. Withdraw larger amounts to minimize transaction fees on ATMs. For absolute best rate, exchange cash at licensed city exchanges (like Kapalıçarşı in Istanbul) after comparing rates but ATMs are safer and nearly as good.
Tested both options last week:
- Withdrew 10,000 TL via Halkbank ATM = $350 equivalent
- Same $350 at airport counter = 9,100 TL
Lost nearly 900 TL! Now I only use ATMs from major banks (PTT, ING, Halkbank). Bonus: Their ATMs have English menus and proper receipts.
As a former resident, I warn visitors: Airport exchanges are absolute robbery. Their "0% commission" signs hide terrible rates. Example from yesterday:
Garanti BBVA ATM: 28.45 TL/USD
ICB Exchange at SAW: 25.90 TL/USD
Better option: Withdraw just 500-1000 TL at airport ATM for immediate needs, then use İş Bank ATMs in city for larger amounts.
Never use airport exchange counters! Just withdrew 5,000 TL from a Ziraat or ING Bank ATM at IST and compared rates:
ATM rate: 1 USD = 28.50 TL (only my bank's 1% foreign fee)
Airport counter: 1 USD = 26.20 TL (nearly 10% worse!)
Pro tip: Decline currency conversion at ATMs and let your home bank handle it for best rates.