Send Money To Turkey

Updated on September 13, 2020
Personal
Business
From
United States Flag
United States
USD
To
Turkey Flag
Turkey
TRY
1 USD equals
7.477 TRY
09/13/2020 5:19 PM UTC
 
How much to transfer?
$1-1k
$1k-10k
$10k +
Provider
Features
Fees
Score
Speed
Transfer Now
OFX Logo
  • Check Icon
    0.4% margin for new customers referred by iCompareFX
  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Online and phone transfers
$
$
$

low

Fees
87
Speed Icon

medium

2-3 days

Less Information
+

Transfer Options

  • Bank transfer
  • Debit card (UK only)
  • BPAY (Australia only)
  • Direct debit (U.S. only)

Features

  • Check Icon
    0.4% margin for new customers referred by iCompareFX
  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Online and phone transfers

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

low

Fees
Speed Icon

medium

2-3 days

Best For

  • Circle Check Icon
    Pay no fees for personal transfers
  • Circle Check Icon
    Get competitive exchange rates
  • Circle Check Icon
    Lets you schedule transfers with ease
  • Circle Check Icon
    Trading in some currencies possible only over the phone
  • Circle Check Icon
    Website access only in English

TorFX Logo
  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Forward contracts
  • Check Icon
    Limit and stop loss orders
  • Check Icon
    Travel money solutions for UK residents
$
$
$

low

Fees
72
Speed Icon

medium

2-3 days

Less Information
+

Transfer Options

  • Bank transfer
  • CHAPS (UK only)
  • BACS (UK only)
  • Visa debit card (UK only)

Features

  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Forward contracts
  • Check Icon
    Limit and stop loss orders
  • Check Icon
    Travel money solutions for UK residents

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

low

Fees
Speed Icon

medium

2-3 days

Best For

  • Circle Check Icon
    Pay no fees for one-off transfers
  • Circle Check Icon
    Schedule transfers between £500 and £10,000 per month
  • Circle Check Icon
    Use hedging tools to protect yourself against FX fluctuations
  • Circle Check Icon
    No multilingual website

XE Money Transfer Logo
  • Check Icon
    Fee-free transfers
  • Check Icon
    Competitive exchanges rates
  • Check Icon
    Limit orders
  • Check Icon
    Multilingual website and customer service
$
$
$

low

Fees
74
Speed Icon

medium

2-3 days

Less Information
+

Transfer Options

  • Bank Transfer
  • BPAY (Australia)

Features

  • Check Icon
    Fee-free transfers
  • Check Icon
    Competitive exchanges rates
  • Check Icon
    Limit orders
  • Check Icon
    Multilingual website and customer service

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

low

Fees
Speed Icon

medium

2-3 days

Best For

  • Circle Check Icon
    No fees for personal transfers
  • Circle Check Icon
    Accepts payments in several currencies
  • Circle Check Icon
    Target specific rates using limit orders
  • Circle Check Icon
    No debit or credit card payments
  • Circle Check Icon
    No scheduled transfers

WorldRemit Logo
  • Check Icon
    Bank account transfers and cash transfers
  • Check Icon
    Mobile airtime and mobile wallets top up
  • Check Icon
    Home delivery of transferred funds
  • Check Icon
    Multicurrency WorldRemit Wallet
  • Check Icon
    Multilingual website
$
$
$

medium

Fees
63
Speed Icon

fast

1-2 days

Less Information
+

Transfer Options

  • Bank Transfer
  • Debit / Credit card
  • Google / Apply Pay
  • POLi (Australia)

Features

  • Check Icon
    Bank account transfers and cash transfers
  • Check Icon
    Mobile airtime and mobile wallets top up
  • Check Icon
    Home delivery of transferred funds
  • Check Icon
    Multicurrency WorldRemit Wallet
  • Check Icon
    Multilingual website

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

medium

Fees
Speed Icon

fast

1-2 days

Best For

  • Circle Check Icon
    Transfers to cash pickup locations
  • Circle Check Icon
    Transparent rates and fees
  • Circle Check Icon
    Low minimum transfer amount
  • Circle Check Icon
    No hedging tools
  • Circle Check Icon
    No scheduled transfers

Payoneer Logo
    $
    $
    $

    high

    Fees
    71
    Speed Icon

    medium

    2-3 days

    Less Information
    +

    Transfer Options

    • Bank transfer
    • Debit card
    • Credit card
    • Bank debit

    Features

      Support

      • Phone
      Support
      Phone Icon
      Phone
      $
      $
      $

      high

      Fees
      Speed Icon

      medium

      2-3 days

      Best For


      Currencies Direct Logo
      • Check Icon
        Forward contracts and limit orders
      • Check Icon
        Scheduled transfers
      • Check Icon
        Travel money solutions for residents of the UK
      • Check Icon
        Multilingual website
      $
      $
      $

      low

      Fees
      84
      Speed Icon

      medium

      2-3 days

      Less Information
      +

      Transfer Options

      • Bank transfer
      • Debit card

      Features

      • Check Icon
        Forward contracts and limit orders
      • Check Icon
        Scheduled transfers
      • Check Icon
        Travel money solutions for residents of the UK
      • Check Icon
        Multilingual website

      Support

      • Phone
      Support
      Phone Icon
      Phone
      $
      $
      $

      low

      Fees
      Speed Icon

      medium

      2-3 days

      Best For

      • Circle Check Icon
        Schedule transfers easily
      • Circle Check Icon
        Make use of hedging tools
      • Circle Check Icon
        Accepts customers from most countries
      • Circle Check Icon
        Cannot sign up from all states in the U.S.

      TransferWise Logo
      • Check Icon
        Transparent fee structure
      • Check Icon
        Send money to email addresses
      • Check Icon
        Multicurrency account with debit card
      • Check Icon
        Multilingual website & app
      $
      $
      $

      low

      Fees
      75
      Speed Icon

      fast

      1-2 days

      Less Information
      +

      Transfer Options

      • Bank Transfer
      • Credit Card
      • Debit Card
      • Country specific alternatives

      Features

      • Check Icon
        Transparent fee structure
      • Check Icon
        Send money to email addresses
      • Check Icon
        Multicurrency account with debit card
      • Check Icon
        Multilingual website & app

      Support

      • Phone
      Support
      Phone Icon
      Phone
      $
      $
      $

      low

      Fees
      Speed Icon

      fast

      1-2 days

      Best For

      • Circle Check Icon
        User friendly mobile app
      • Circle Check Icon
        Multi-currency account
      • Circle Check Icon
        Travel debit card
      • Circle Check Icon
        No scheduled transfers
      • Circle Check Icon
        No dedicated account manager

      How to send money to Turkey

      How To Step Icon
      Step 1
      Comparing and registering
      Comparing and registering
      Compare the best companies that send money to Turkey and make a selection.
      Sign up as an individual or business customer by entering the required information.
      In both cases, you will need to verify your identity by providing details from your driver's license or passport.
      How To Step Icon
      Step 2
      `Examining exchange rates, setting up the transfer
      `Examining exchange rates, setting up the transfer
      Looking at historical TRY exchange rates helps determine if sending money to Turkey is right for you at this time.
      When ready, let your service provider know how much money you plan to send and get a rate quote.
      If the exchange rate on offer is to your liking, lock it to set up your transfer.
      You will also need to provide the recipient's Turkish bank account details.
      How To Step Icon
      Step 3
      Making payment, waiting for recipient to receive money
      Making payment, waiting for recipient to receive money
      You need to pay for your transfer using any of the available methods.
      Only then will the company you select begin the process of transferring money to Turkey.
      The recipient should receive the money with a given turnaround time.
      To track your transfer, you may use your service provider's website. Several companies provide email and text notifications too.

      Currency Symbol and Swift Codes

      The Turkish lira (TRY) is the official currency of Turkey as well as the Turkish Republic of Northern Cyprus. One lira is divided into 100 kurus. The value of the lira deteriorated considerably from 2015 to 2018, dropping to 4.5 USD/TRY by May 2018.

      If you wish to transfer money to a Turkish bank account, you will need the bank’s SWIFT code. Here are SWIFT codes of some prominent banks in Turkey.

      BANKBRANCHSWIFT CODE
      Ziraat BankIstanbulTCZBTR2AIST
      Turkiye is BankasiIstanbulISBKTRISXXX
      Turkiye Garanti BankasiIstanbulTGASTRI1XXX
      AkbankIstanbulAKBKTRIS004

       

      Case Study

      Mustafa had moved from Turkey to Germany as a student. He found a suitable job after he completed his studies so he continued living in Germany. Once he started making enough money, he decided to start sending some to his parents, who still lived in Turkey. He turned to a popular German bank for the first few transfers, after which he compared it with a leading money transfer company. The corresponding table shows you what he found.

       BANKMONEY TRANSFER SERVICE
      Exchange rateEUR 1 = TRY 5.4482EUR 1 = TRY 5.6211
      Transfer feeEUR 20EUR 0
      Amount received for EUR 2,000TRY 10,787.44TRY 11,242.20
      Transfer time2 to 5 days1 to 3 days
      Transfer optionsBank accountBank account
      Difference of TRY 454.76

      Mustafa found good reason to switch from the bank to the money transfer company. In doing so, his parents ended up getting a little extra money each time, and it got to them sooner. Besides, the company also gave Mustafa the option of scheduling his transfers.

       

      Cash Pickup Locations in Turkey

      You may turn to popular overseas money transfer companies such as Western Union, MoneyGram, Ria, or WorldRemit if you want to send money to a cash pickup center in Turkey.

      WESTERN UNION IN TURKEY 
      Istanbul, Atilim Seyahat, Kemalpasa Mah 18 Sekbanlar Sok Sekban, Apt No 16 B, IstanbulHotel Bulvar Palas, Ataturk Bulvari No 36, Istanbul
      Ankara Cabak Finans, Drmehmet Ali Altin C Akdere M, AnkaraKunduz Iletisim Haci Bayram Mah Anafartalar Caddesi, No 3 64 Altindag, Ankara
      MONEYGRAM IN TURKEY 
      Istanbul Kuveyt Turk Bank - Kavacik, Fatih Sultan Mehmet Cad Otakci Citimazi No 1 Ak Is Merkezi, IstanbulKuveyt Turk Bank, Ankara Cd N 21 Efe Ismerk Sigli Kurtkoy, Istanbul
      Ankara Gonder-Al Guzey Iletisim Hamamonu Talatpasa Bulvari 134 B Altindag, Samanpazari, AnkaraMustafa Ismail Acar, Hanimeli Sok. 14/D, Korkutreis Mah, Ankara

       

      Safety Tips for Picking Up Cash in Turkey

      Petty crimes such as bag snatching and pickpocketing take place around major tourist destinations in Istanbul. When picking up a large amount of cash, consider taking someone you trust along. Try not to carry too much cash and do not show signs of affluence.

      Do not accept food or drinks from strangers and do not leave your drink unattended. Do not accept lifts from strangers and always use registered yellow taxis.

       

      What Information Do I Need to Transfer Money to Turkey?

      The information you need to carry out a money transfer to Turkey depends on the transfer method you select.

      • Bank account. To transfer money to a Turkish bank account, you will need the recipient’s name, an account number, an IBAN, the receiving bank’s name, and the receiving bank’s SWIFT code.
      • Cash pickup center. You will need the recipient’s complete name as well as the location of the cash pickup center from where the recipient plans to collect the money. The recipient may get the money by presenting a reference number and an acceptable form of photo ID.

       

      Regulations When Transferring Money To and From Turkey

      There is no limit to how much foreign currency you may bring into Turkey. However, any amount over €10,000 or TRY 25,000 being taken into or out of the country needs to be declared to the relevant authorities. Foreign investors may freely convert and repatriate profits generated in Turkish lira.

      According to a recent amendment made by the Central Bank of the Republic of Turkey to the Decree No. 32 on the Protection of the Value of Turkish Currency, individuals from Turkey cannot borrow in foreign currency, whether from foreign financial institutions or Turkish banks.

      Convert USD to TRY

      Check out the historical exchange rates for the last thirty days. Learn how much you can save by using a global money transfer company instead of the big banks.
      USD
      TRY
      Sending money online through specialist money transfer companies.

      Expect to receive between TL740.2 and TL744.68 when sending money from USD to TRY at today's exchange rate.

      Compare that to sending money overseas through retail banks. Expect to receive approximately TL710.29, not including additional banking fees. That is an average saving of TL32.15.
      Currency exchange rate in the last 30 days

      Need more information?

      Read useful guides on international remittance and more detailed reviews on the best money transfer services.

      Money Transfer Guides

      How to Send Money from PayPal to TransferWise
      September 7, 2020

      Below, you will find a guide on how to send money from PayPal to the TransferWise Borderless Account. You will …

      Save Money Transferring Funds In or Out of International Escrow
      September 7, 2020
      Problem Definition

      You are selling something through an international Escrow service and the option to send to your country is through …

      What Is the Difference Between IBAN and SWIFT?
      September 7, 2020

      Banks and other financial institutions make use of different kinds of identification numbers for a variety of reasons. Your bank …

      How Do Wire Transfers Work?
      September 7, 2020

      Wire transfers refer to electronic transfer of funds between two entities that may or may not be banks. These transfers …

      Neobanks Explained
      September 7, 2020

      While neobanks have been around since early 2010s, they have come into the forefront during the latter half of the …

      All You Need to Know About Peer-to-Peer Money Transfers
      September 7, 2020
      What is a peer-to-peer money transfer?

      A peer-to-peer money transfer, also referred to as a peer-to-peer transaction, a P2P transfer, or …