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Are you looking for the best way to transfer money in Turkey? Whether you’re sending money to or from this beautiful country, I’ve got you covered. As an expat living in Turkey, I’ve tried various methods, and I’m here to share my experiences and tips to help you make the best choice.
What is Money Transfer Turkey and How Does It Work?
Money transfer in Turkey is a straightforward process. You can send or receive money using online services, banks, or even physical locations like PTT offices. Whether you’re sending money to a friend, family member, or for business purposes, there are several reliable methods available.
Tips for Transferring Money in Turkey
Before you dive into sending or receiving money, here are a few tips to keep in mind:
- Avoid Airport Money Transfers: They’re usually more expensive. Opt for online services or your local bank instead.
- Check All Fees: Make sure you understand all the fees associated with the transfer before you proceed.
- Monitor Exchange Rates: The Turkish Lira (TRY) exchange rate can fluctuate, so it’s wise to keep an eye on it.
- Compare Services: Different providers offer different rates and fees, so it’s always a good idea to compare before you commit.
- Be Wary of Hidden Fees: Some services charge additional fees that aren’t immediately obvious, so read the fine print.
How Much Does It Cost to Transfer Money in Turkey?
The cost of transferring money in Turkey varies depending on the amount, the method you choose, and the service provider. Generally, fees should not exceed 5% of the total amount being transferred. However, some services may charge more, so it’s essential to check before you proceed.
How to Send Money to Turkey
There are several methods to send money to Turkey, including using your bank, online money transfer services, or even services like Western Union. The best method depends on your specific needs, but here are some of the most popular options:
Best Money Transfer Services in Turkey
Wise
Wise is my go-to for money transfers in Turkey. It’s easy to use, offers great rates, and is incredibly secure. Plus, it’s much cheaper than traditional banks or services like Western Union.
Wise Advantages
Here’s why I love using Wise:
- Completely Secure: Wise is a trusted service for all types of transfers.
- Cost-Effective: Transfers are about eight times cheaper than traditional methods.
- No Hidden Fees: The fees are transparent and straightforward.
- Easy Conversion: The currency conversion process is simple and done online.
- Wide Range of Currencies: Wise supports over 750 currencies, including TRY, USD, EUR, and more.
Transfer via Wise is easier than Western Union and banks. Click here to get started.
Western Union
Western Union is another reliable option, especially if you prefer a physical location. You can find Western Union agents at PTT offices or various banks in Turkey. However, be prepared for higher fees compared to Wise.
MoneyGram
MoneyGram is another international service that allows you to send or receive money electronically. It’s available through Kuveyt Türk bank branches in Turkey. MoneyGram is simple and quick, with no hidden charges.
Bank Transfer in Turkey (SWIFT-IBAN)
If you prefer a more traditional method, bank transfers using SWIFT-IBAN are also an option. However, be aware that this method often comes with higher fees and longer processing times.
