The official currency was the Turkish Lira (TRL), however a new currency, the ’New Turkish Lira’ (TRY), was introduced on 1 January 2005, whereby six zeros were dropped from the TL and the sub-unit new kuru was created. Both currencies will be used side by side until 31 December 2005. Shops are legally obliged to display prices in both currencies during 2005. Currency can be exchanged at banks, exchange booths, post offices, airports and ferry ports; banks have the worst rates and highest commissions, but will exchange lesser known foreign currencies. Banks open mainly Monday to Friday, but some are open daily in tourist areas. ATMs are widely available in major cities and tourist areas. Most bank branches have ATMs which accept Cirrus and Plus. Major credit cards are widely accepted; the most popular are Visa or MasterCard, but American Express is accepted in many of the more expensive places. Travellers cheques can be exchanged at some banks and currency exchange offices, but are not as welcome as cash or credit cards. US$ or Euros are preferred. Some pensions and hotels in the most popular destinations accept US$ as payment.