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Are you looking for Money Transfer Turkey Do you want the best Turkish Lira exchange rates and a safe way to do it We will answer all of these questions and more in our article.
If you’re looking for a reliable way to send your hard-earned cash overseas without any hassles, then this post will help! Here’s everything that you need to know about sending money to or from Turkey.
What is Money Transfer Turkey and how does it work
A Money Transfer in Turkey is a way of sending your cash to/from Turkey using an online service or a bank.
Tips when transferring money in Turkey
When transferring money in Turkey, there are some tips that you need to know to avoid any problems.
- Don’t use the airports for Money transfers. It’s cheaper to do it online or at your local bank!
- Check what fees are associated with transferring money to/from Turkey before signing up, so you don’t get a shock when your transfer arrives.
- Check the Turkish lira exchange rate
- Make sure that the currency exchange rates offered are fair and reflect the current situation.
- It is always a good idea to compare different money transfer services before you sign up for one of them
- If there’s anything worse than paying high-interest rates on credit cards or loans, it has got to be when companies charge exorbitant fees on international transfers! These include a fee per transaction, currency conversion charges, and fixed fees, make sure you are aware of these fees
How much does it cost to transfer money in Turkey
The answer depends on the amount of money you are sending or receiving, as well as your chosen method and provider.
Generally speaking, the transfer fees should not exceed 5% of the total amount of the money you are transferring.
How to Send Money to Turkey
There are several methods for transferring money from your bank account or even using credit cards.
The best method is using an online money transfer service, In most cases, these services offer the best rates and they’re pretty simple to use.
They also often allow you to send money in different currencies so it’s a great option if your recipient doesn’t have a bank account of their own.
Best money Transfer services in Turkey
Wise
Wise is the best way to transfer money to Turkey, It’s easy to use and it offers great rates, so you can send money abroad at a low cost.
Services like Wise are perfect if your recipient doesn’t have an account of their own because they allow you to pay in different currencies.
Wise advantages
Wise offers a lot of great advantages most importantly:
- Wise is completely secure for all types of transfers.
- You can send money outside of Turkey about eight times cheaper than with traditional methods.
- Transfer fees are straightforward, and there are no hidden fees.
- The conversion process is done easily on the Internet.
- The funds are automatically transferred to the recipient’s bank account.
- Wise has around 750 different currencies to transfer, including the Turkish Lira, US Dollar, Euro, British Pound, and Egyptian Pound.
You can transfer via Wise directly online and easier than Western Union and banks by clicking here.
Western Union
Western Union is another great option if you are looking for a reliable money transfer service.
Western Union is more expensive than Wise, but it is another option if you don’t want to send money online or want to send it in cash.
You can receive or send money through Western Union in Turkey by visiting the nearest PTT branch or checking this article for the list of banks in Turkey that supports Western Union.
MoneyGram
MoneyGram is an international service that allows you to send or receive money electronically to over 200 countries around the world.
MoneyGram fees are simple, so there are no hidden charges. With this method of sending money abroad, your recipient will receive their funds in less than half a day! You can find more information about Moneygram on its official website here.
MoneyGram is another service that offers a wide range of advantages.
Moneygram Advantages:
- You have access to agents across more than 35 different currencies including Turkish Lira (TRY).
- You can send/receive money through Moneygram Turkey by using Kuveyt Turk bank branches.
Bank transfer in Turkey (SWIFT-IBAN)
When you receive or send money to Turkey, most banks require the SWIFT-IBAN number.
This method allows sending and receiving funds in a specific way by transferring it directly from your account in another country.
However, this service has more fees associated with each transaction so it’s best if you contact your local bank for more information about rates.
Conclusion
We talked about the best methods to transfer money from or to Turkey.
Wise is the best option for transferring money in Turkey in terms of ease, security, and low costs.
We also mentioned other options including Moneygram and Western Union.
Depending on your needs, you should choose the one that best suits your circumstances.
