Sterling and Revolut

[Lumpy Jumper]

Can someone enlighten me as to whether you can draw Sterling out on your Revolut card here in the TRNC.
If so which ATMs can you do this at?
Thank you in advance.

[come_on_aylin]

Yes you can but you will be charged a fee by the ATM provider. Drawing out TL is free at a number of ATMs including Ziraat, Near East, Iktisatbank, Limassol, Turk Bank, TEB and no doubt others (not Bankmatic machines).

If you need a large amount of Sterling you may be better transferring it to yourself via Western Union and picking it up at an Iktisatbank branch.

https://www.westernunion.com/gb/en/send ... nic_search (make sure you select Cyprus (Northern) as the destination)

I believe the first transfer to be free but even if you have to pay it's a lot cheaper than the fees from an ATM. Once you've arranged the transfer you make an appointment at an Iktisatbank to collect, you may have to contact them to say you want Sterling - they tried to pay me in TL which kind of defeats the purpose...

https://www.iktisatbank.com/western-uni ... tment-form

[Lumpy Jumper]

Thank you for taking the time to respond.

[gates]

Why not draw lira then go to the exchange shop back to STG

[steveodp]

Why not draw lira then go to the exchange shop back to STG

Agreed, this is what I do with my Revolut card whenever I need sterling, and I lose very little overall in fees etc.

[Keithcaley]

Why not draw lira then go to the exchange shop back to STG

Because it's a faff if you need £20 for your dog groomer or £50 for your gardener- and it's impractical for very large amounts...

[Meandhim]

I need euros. Can I get euros here from my Revolut card or is it better going south to an ATM. Last time I gave sterling for euros at the exchange I lost £50 on £400 because of sterling to TL then euros.

[gates]

If you go south you can draw out of atm free but still best pull out lira change to what ever you want

[Soner]

I need euros. Can I get euros here from my Revolut card or is it better going south to an ATM. Last time I gave sterling for euros at the exchange I lost £50 on £400 because of sterling to TL then euros.

Exchange to Euros in Revolut, then use ATM in South that does not charge.

[Keithcaley]

Exchange to Euros in Revolut, then use ATM in South that does not charge.

Excellent idea!

Although - do you even need to change the currency in the Revolut app?

If I want to draw TL using my Revolut card, then I don't need to convert money in my Sterling account to Lira before I do so, - Revolut does it automatically & shows me the transaction details, including the exchange rate used.

I can't see why a EURO transaction would work differently - and in fact it's easy to use a Revolut card for transactions in the South anyway, unless you actually need cash...

I suppose that if I was actually 'tracking' the exchange rate and thought that the rate was exceptionally good at a particular time, then I might be able to gain some slight advantage - but I'm not very good at guessing!

[Soner]

I had problem several times withdrawing TL at ATM in North, but problem sorted by exchanging first in Revolut then withdrawing. Maybe depends on ATM used. Dunno.

[waddo]

Exchange rate now! Revolut to TL = 51.35 - Moneyexchange £1 to TL = 51.10. Not a big difference but have always found that Revolut exchange rate to be better than any local exchange rate.

Have Revolut accounts in GBP, Euro & TL, it makes life easy for me and I tend to keep enough in each account to cover normal shopping, top them up as required at the best rate I can find.

Then also easy to withdraw from any ATM in any country but never take GBP from North Cyprus ATM’s - too expensive.

[gates]

You can’t beat the wise card exchange rate better than Revolut. Small charge to exchange but better rate. I got both but use my wise card as main