Visa/ATM/Shopping/Grand Bazaar
 

Hello

At the end of November we go visit an old friend who moved to turkey(istanbul) a long time ago,as i understood is a good place for shopping,i wonder if my cards will work ATM/ or POS paying without PIN like in USA with my signature.I have visa signature and visa platinum, and my wife has a signature and my son visa gold, if matters what type they are.Will the POS limit change?

Thank You

Are you kidding? The Grand Bazaar and Spice Market prey on tourists. There are lots of other places to shop in Istanbul.

I suggest using your ATM card and draw cash. The Grand Bazaar is fascinating but don't use your credit cards there, and never pay the asking price. Bargain, bargain, bargain.

I'm interested if i can pay like in the US with my signature.

thanks

Yes you can. The Pos machines work both ways.

I'm interested in buying some gold.So i won't have cash only on my credit cards.

Thanks

If you are going to buy gold with your cards, the goldsmiths will charge you an additional 2.5-5% to cover the bank commission for the card usage.

Just as an idea, if it is just gold that interests you, a good place to buy it is the shop of the Turkish State Mint, at Yildiz, just off Barbaros Boulevard. You can get 24 carat bullion, 22 carat turkish republic gold coins, or collectible cold coins like the one for Obama's visit to Turkey which will not be sold after March 2011. (it is about one troy ounce) The collectible coins will be easier to buy with a card.

The mint will be one place where you are sure of the quality and the price.

A collectable gold coin i had bought for $150 in 1987 is now listed as being worth %3,000 in the 2011 edition of the book of Turkish coins. Figuring that that would be a negotiable selling price, i probably can easily sell the 8.5 gram gold coin for about $1,400 instead of the market bullion value of about $300.

Thanks for the advices.

If your credit card was issued in the US by Chase or B of A, you will pay a 3% foreign transaction fee for everything. For example if your hotel bill is $500 you will pay $15 for the privilege of charging. The only two issuers in the US that do not charge the fee 1) Capital One and 2) HSBC Premier.

Also if you use your ATM card and at a foreign ATM and it does not have a corresponding bank in that country you will pay approx $5 for each transaction. This happened to me in China with BofA.

So check your bank's website.

I agree use cash and bargain, bargain in the Grand Bazar and the Spice Market.