Top payment methods in Libya: A guide on best ways to pay
Wondering what the most popular ways to pay are in Libya? Explore the top payment options and choose wisely.
Libya, with a population of around 6.98 million people, has a GDP of approximately 47.48 billion making it the 97th largest economy in the world. The official currency of Libya is the Libyan Dinar (LYD)
The economy is overwhelmingly dependent on oil and gas exports, but its stability is severely hampered by political conflict. Its main trading partners are European countries, particularly Italy, which are the primary buyers of its hydrocarbons.
| Country | Libya |
|---|---|
| Population | 6.98 million |
| GDP (USD) | 47.48 billion |
| Global Ranking | 97th |
| Currency | Libyan Dinar (LYD) |
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What is the main payment method in Libya?
The primary payment method in Libya is physical cash, the Libyan Dinar, a situation exacerbated by a long-running liquidity crisis that makes obtaining cash difficult. Due to these shortages, certified cheques are often used for large purchases like cars. For those with bank access, local bank-specific apps like Moamalat are used for transfers and some merchant payments.
How to pay in Libya
Each country has its own way of moving money, and choosing the right method can sometimes be difficult. That’s why we have curated the most popular and best payment options for you to use in Libya.
| Payment Method | Description | Type |
|---|---|---|
| Cash (Libyan Dinar) | The economy is almost entirely cash-based, a situation intensified by long-term instability and a fragmented banking sector. Cash is required for all transactions. | In-person |
| Local Debit Cards | Some local banks issue debit cards that can be used for cash withdrawals at ATMs and for payments at a very limited number of POS terminals. | In-person |
| Bank Transfers | Bank transfers are possible but are often difficult and are not a common or reliable payment method for the public. | Online |
| Mobile Banking Apps | Some local banks offer mobile apps, but their use is nascent and limited to basic transfers between accounts. | Online |
| Hawala | Informal money transfer systems are a common way to move money due to the difficulties with the formal banking sector. | In-person |
Is PayPal available in Libya?
No, PayPal is unfortunately not accepted in Libya.
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