Banking, Money and Taxes in Algeria

Dealing with banking, money, and taxes in Algeria is relatively easy, even though you might have some bureaucratic hurdles to contend with in the beginning. This is down to Algeria’s mostly stable banking system, which is largely based on the French model. It is also worth noting that credit cards are only accepted at some locations – most of your purchases in the country will be in cash.  

Money in Algeria

Algeria’s official currency is the Algerian Dinar (DZD).

The Dinar is available in the following denominations:

• Notes: DZD 100, DZD 200, DZD 500, DZD 1,000, and DZD 2,000
• Coins: DZD 5, DZD 10, DZD 20, DZD 50, DZD 100, and DZD 200

Note that there are currency restrictions in Algeria on both arrival and departure. Travellers can't take Algerian dinars out of the country.

Banking in Algeria

Banking in Algeria is quite easy. Banks offer comprehensive services, including online banking. You’ll have a range of international banks to choose from, including BNP Paribas, Société Générale, HSBC, and CitiBank.

Major Algerian banks include Banque Nationale d'Algérie (BNA), Banque de l'Agriculture et du Développement Rural (BADR), and Banque Extérieure d'Algérie (BEA).

Currency exchange services are available at banks, hotels, airports, and dedicated exchange bureaus throughout Algeria. Be aware that exchange rates can vary between these providers, so it's best to shop around for the most favourable rate.

Opening a bank account

Opening a bank account in Algeria as an expat is relatively straightforward. To open an account, you’ll need a valid identity card and proof of address – a residence certificate, utility bills, or a lease contract will usually be sufficient. In some cases, your employer may have a relationship with a specific bank, which can help to expedite the process of opening an account.

Generally, the process can take anywhere from a few days to a couple of weeks, depending on how quickly the required documentation is provided and the bank's verification process. Keep this in mind to ensure a seamless transition when moving to Algeria.

ATMs and credit cards

Credit and debit card use is growing, but Algeria is still largely a cash-based society. ATMs are readily available in the larger cities, but scarce in rural areas. Be sure to carry enough cash with you if you're travelling to one of the country's remote corners.

Moving to Algeria

Taxes in Algeria

Algeria has a progressive income tax rate of up to 35 percent. This is payable by all tax-resident foreigners and locals on money earned in Algeria and worldwide. A tax resident is someone who spends 183 days or more a year in Algeria, and whose main source of income is in the country.