Currencies and Payment
In Lebanon, both the American Dollar (USD) and the Lebanese Pound (LBP) - also called the Lebanese Lira (LL) are accepted. At the time of writing, the Lebanese Pound is pegged against the USD at a rate of 1500 LBP to 1 USD.
The maximum allowable amount of cash to bring into Lebanon is 2 million LBP or 1.333 USD. There is no specific regulation or law indicating limits for diplomatic staff.
Travellers’ cheques (in any currency) are not accepted in Lebanon.
Most modern shops, restaurants and bars accept major Credit Cards such as MasterCard and Visa. American Express and Diners are accepted in most hotels and restaurants, yet in shops or supermarkets it is advised to check prior to your purchase. Establishments in general do not charge costs for credit card use, though you may incur transaction costs at your own bank.
Tipping in restaurants and bars is very common and the generally suggested tip is 10%. Splitting bills is acceptable, but it is advised to inform the waiter in advance.
Although it is advisable to check current rates, indicative exchange rates are as follows - 14 January 2015
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1,000 LBP = 0.55 Euro
1,000 LBP = 0.75 USD 1,000 LBP = 0.43 GBP 1,000 LBP = 0.78 CAD 1,000 LBP = 0.80 AUD |
1 Euro = 1,754 LBP
1 USD = 1,500 LBP 1 GBP = 2,251 LBP 1 CAD = 1,241 LBP 1 AUD = 1,212 LBP |
ATMs are in abundance and generally accept both checking and credit cards or co-branded home banking cards for Cirrus, Diners Club, Maestro, MasterCard, Visa and Visa-Electron. Yet, when using one, note that even if it displays your card’s insignia, this does not necessarily mean that a transaction is possible. Byblos Bank, Bank Audi, Credit Libanais and HSBC tend to serve most international bank cards, all having experience with international banking. In most cases, ATMs can dispense cash both in Lebanese Pounds and US dollars.
Lebanese Banks
Bank offices are widely spread, and generally open between 8am and 2pm or 3pm on weekdays and from 8am until 12pm on Saturdays.
Opening a bank account at a Lebanese bank (Bank Audi, Bank of Beirut, Blom Bank, Byblos Bank, Credit Libanais, SGBL or HSBC) is straightforward and usually only requires a copy of the applicant’s passport, a diplomatic card or proof of address in Lebanon, and a signature. A minimum deposit may be required. Fees for transactions can differ significantly between banks, so before selecting one, you might want to check the rates.