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Banking Guide
Sending Money to Turkey (2026)
A practical guide to the cheapest and fastest ways to transfer money to Turkey — with real fee comparisons, worked examples and guidance on large transfers.
Transfer Methods Compared
All major options for sending money to Turkey, compared on speed, cost and exchange rate quality.
| Method | Speed | Typical Fee | Exchange Rate | Best For |
|---|---|---|---|---|
| Wise | 1–24 hrs | 0.4–1.5% | Mid-market | Most transfers up to €50k |
| SWIFT bank transfer | 1–3 days | €15–€40 + correspondent | 1–3% markup | Large transfers, bank-to-bank |
| Western Union | Minutes–1 day | 1–3% | 2–4% markup | Urgent small amounts, cash pickup |
| Revolut | Instant–1 day | Free–0.5% | Near mid-market | Small/medium amounts, Revolut users |
| Currency broker (OFX/Moneycorp) | 1–2 days | Low/zero | Negotiable | Transfers above €20,000 |
Worked Example: Sending €10,000 to Turkey
Calculated using the latest EUR/TRY reference rate: 1 EUR = ₺53.43 · updated 29 May 2026
Currency conversions use the latest available EUR/TRY reference rate when available. Actual bank or transfer rates may vary.
Wise
Amount Sent
€10,000
Total Fee
~€44 (0.44%)
Exchange Rate
Mid-market (1 EUR = ₺53.43)
TRY Received
≈ ₺531,946
Funds arrive in your Turkish bank account within hours. Requires a verified Wise account.
SWIFT (e.g. Garanti BBVA)
Amount Sent
€10,000
Total Fee
€30 sending + correspondent fee
Exchange Rate
1 EUR = ₺52.09 (approx. 2.5% markup)
TRY Received
≈ ₺519,377
Slower but goes directly into a Turkish bank account. May require branch visit for large amounts.
Currency broker (OFX)
Amount Sent
€10,000
Total Fee
Often zero on large transfers
Exchange Rate
1 EUR = ₺53.32 (negotiated rate)
TRY Received
≈ ₺533,228
Best value for amounts above €20,000. Requires phone call for large transfers. Account setup takes 1 day.
Large Transfers: Turkish Regulations
Sending large amounts (property purchases, business capital, pension transfers) requires additional documentation under Turkish banking regulations.
Documentation Required
- Source of funds declaration
- Property purchase contract (for real estate)
- Employment or pension documentation (for income transfers)
- Company incorporation documents (for business)
- Notarised inheritance documents (for estate transfers)
MASAK Requirements
MASAK (Mali Suçları Araştırma Kurulu) is Turkey's financial intelligence unit. Banks are required to report:
- Transfers above $50,000 equivalent for enhanced due diligence
- Unusual transfer patterns
- Cash transactions above ₺75,000
Important: For property purchases, the funds transfer must be documented as part of the title deed (tapu) process. Your notary and the land registry office (tapu müdürlüğü) will require bank confirmation of the incoming funds.
Receiving Money in Turkey: What to Tell Your Sender
To receive an international SWIFT transfer into a Turkish bank account, your sender will need:
Your full name
As it appears on your bank account
IBAN number
TR followed by 24 digits (26 characters total)
Bank name
e.g. Garanti Bankası A.Ş.
SWIFT/BIC code
See table below
Bank address
Your branch address (some transfers require this)
Transfer purpose
E.g. "Family support", "Property purchase"
SWIFT Codes for Major Turkish Banks
| Bank | SWIFT / BIC | IBAN Prefix |
|---|---|---|
| Garanti BBVA | TGBATRISXXX | TR (26 chars) |
| İş Bankası | ISBKTRISXXX | TR (26 chars) |
| Akbank | AKBKTRISXXX | TR (26 chars) |
| Ziraat Bankası | TCZBTR2AXXX | TR (26 chars) |
Frequently Asked Questions
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