Travel Reference
In-Depth Information
Credit Cards
Ahm, no. Sanctions mean your credit card will be useless in Iran. The only exceptions are
a handful of carpet shops with foreign accounts, but if they can help at all (it's far from
guaranteed) you'll pay a hefty 10% plus service charge for the privilege. Bring enough
cash.
Changing Money
The easiest way to change money is at an official money-exchange office, where the
whole deal is done in seconds, unlike in most banks where it can take considerably longer.
BANKS
At the time of writing banks had been limited to changing money at a fixed rate, called the
First Market, which was far lower than the floating market rate to be had at exchange
shops. How long these two mandated rates lasts is anybody's guess.
Although it sometimes seems as if every fourth building is a bank, only a few banks
will actually change your money and then usually only US dollars, euros or, less often,
British pounds in cash (and only after the day's rates arrive from Tehran between 9am and
10am). The best bet will always be your town's central branch
(markazi)
of Bank Melli
(BMI), or the central branches of the other major banks: Bank Mellat, Bank Tejarat, Bank
Sepah and Bank Saderat. You need your passport; bank staff will help with the Farsi pa-
perwork.
OFFICIAL MONEYCHANGERS
Exchange shops are reliable and can be found in most cities, usually signed in English and
with rate boards in the window. When we went to press their rates were decided on the
floating market, officially called the Second Market, which at that time bought you about
50% more rials than changing at the bank (First Market) rate. The process is completely
paperwork free.
International Transfers
Sanctions have made it practically impossible to transfer money into or out of Iran
without the assistance of a worldwide network of shady money dealers.
Tipping
Tipping is not a big deal in Iran. In upmarket restaurants (mainly in Tehran) a 10% gratu-
ity might be expected - on top of the 10% service charge that's often built into the bill.
But in most other places any money you leave will be a pleasant surprise. It's normal to
offer a small tip to anyone who guides you or opens a building that is normally closed. If
