Transfer Money to Turkey

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About Money Transfers to Turkey

Whether you are considering purchasing a property in Ankara or undertaking a business placement in Istanbul, our comparison table will find you the fairest rates and deals to suit you needs. Our service has been developed to help and advise you on the products and options available to you when transferring money to Turkey, saving you a substantial amount of money in the long run.

Our goal is to provide you with the help and advice necessary to ensure that the service we supply to you is first class. We endeavour to put your mind at ease as we reassure you that we only use the best currency specialists, regulated by the Financial Conduct Authority and HMRC.

Last updated: May 08, 2014 Our methodology

Quick Facts: Turkey

Key information for sending money to Turkey

Transfer Speed
1 working day
Local Currency
TRY
Income Tax Rate
15-35%
Avg. Property Price/m²
3,176.19 TRY
Avg. Monthly Rent (3 bed)
1,470.23 TRY
IBAN Required
Yes

Money Saving Tips for Turkey

Expert advice for your international transfer

You will need to obtain Government approval from the relevant municipality before purchasing a property in Turkey.

In order to apply for permanent residency and Turkish citizenship you need to have resided in Turkey continuously for five years with no breaks.

Living costs of 50-60% below the UK allow a retired expat to live comfortably on a pension.

If renting property, for your protection, always insist upon a written lease or rental agreement.

What You Need to Send Money to Turkey

Checklist of recipient bank details required

IBAN e.g. TR330006100519786457841326
International Bank Account Number
SWIFT/BIC Code e.g. BANKTRXX
Bank identifier for international transfers
Account Number
Recipient's bank account number
Account Holder's Name
Full name as it appears on the bank account

Popular Banks in Turkey

Turkiye ls Bankasi Ziraat Bankasi Garanti Bank Akbank Yapi ve Kredi Bankasi Halk Bankasi

"When sending money to Turkey, always compare multiple providers. The exchange rate is important, but don't forget to factor in transfer fees and delivery times. For larger amounts, even small rate differences can translate to significant savings."

MyCurrencyTransfer Editorial Team

Frequently Asked Questions

Common questions about sending money to Turkey

What is the cheapest way to send money to Turkey?

The cheapest way to send money to Turkey depends on your transfer amount. For larger transfers (over £1,000), specialist providers like Wise or OFX typically offer better rates than banks. Compare providers above to see which offers the best deal for your specific amount.

How long does it take to transfer money to Turkey?

Most transfers to Turkey are completed within 1-3 working days. Some providers offer same-day or next-day delivery for an additional fee. The exact time depends on the provider, payment method, and whether the recipient's bank processes weekend transfers.

What information do I need to send money to Turkey?

You'll typically need: the recipient's full name (as it appears on their bank account), their bank account number, the bank's SWIFT/BIC code, and for some countries an IBAN. You may also need the recipient's address and the bank's name and address.

Are money transfer services safe to use?

Yes, the providers we compare are regulated by the Financial Conduct Authority (FCA) or equivalent regulators. They must keep your money in segregated accounts and follow strict anti-money laundering procedures. Always check a provider's regulatory status before sending money.

Should I use my bank to send money to Turkey?

Banks are generally more expensive for international transfers due to higher exchange rate margins and fees. Specialist money transfer providers typically offer rates 2-4% better than banks. Use our comparison to see how much you could save.

How to Transfer Money to Turkey

  1. Compare providers

    Use the comparison table above to find the best exchange rate and lowest fees for your transfer amount.

  2. Create an account

    Click through to your chosen provider and register for a free account. You'll need your email address and basic personal details.

  3. Verify your identity

    Upload ID documents as required (passport, driving licence, or national ID). Most providers verify within 1-2 business days.

  4. Enter recipient details

    Add your recipient's bank account details including their name, account number, and SWIFT/BIC code.

  5. Fund and track your transfer

    Pay by bank transfer or debit card, then track your money until it arrives. Most transfers complete within 1-3 working days.