Technically Turkey is a transcontinental country; the large majority of Turkish land is in Asian territory, with a very small area (35) – known as the Eastern Thrace – geographically located in Southeast Europe. Despite Turkey’s interconnectedness with Europe, the country is not a member of the European Union (EU) and therefore continues to uphold their own unique currency, the Turkish lira (TL).
Those sending money transfers from United Kingdom to Turkey should be aware that TRY is the primary legal tender accepted by Turkish financial institutions. However, if you are planning to travel to Turkey from United Kingdom there have been reports of certain Turkish vendors and businesses, especially in the Eastern Thrace of Turkey, accepting Euros as well as Lira. It is worth researching the destination ahead of acquiring any Euros, and browsing online forums to see what other tourists have to say on the subject.
We have found [NUMBER OF PROVIDERS] that service payments United Kingdom to Turkey. The fastest transfer provider is WorldRemit.. The cheapest provider we found is XE at 0.9% above the Mid-Market Rate.
If you’re looking for the best combination of price, speed, and reliability we recommend using XE when transferring GBP to TRY.
This means that by using XE for online money transfers to Turkey from United Kingdom, you are likely to save on transfer fees and benefit from fast speeds – so your recipient will get more money and have it delivered in less time.
Alternatively, if you are unable to access XE for any reason, our comparison engine has found WorldRemit and Wise also to be very good options when sending GBP – TRY.
This recommendation was updated one minute ago.
XE has been determined by our comparison engine to currently offer you the cheapest rates possible. Many customers are caught out by hidden fees and unexpected exchange rate mark-ups, so to avoid any disappointment at a later date, be sure to acquire all the relevant information before any funds are taken for payment.
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When sending money from United Kingdom to Turkey, speed is one of the biggest factors you need to consider in terms of the service offered by different money transfer providers.
Currently, WorldRemit is the fastest way to send GBP – TRY. Typically these transfers should arrive with the recipient within 24 hours but it is important to consider delivery speeds are subject to daily cut-off times, office hours and public holidays. We recommend all customers review the terms and conditions in full before making a payment.
Most money transfer providers allow you to deposit and send money using various payment methods, but not all providers offer multiple options. You are likely to find the most common methods are bank transfers and card payments, but some providers also accept cash and some will even deliver funds straight to your recipient’s door.
When it comes to sending an international money transfer from United Kingdom to Turkey you will need to provide the recipient’s full name, residential address, IBAN number, TRRN code, the SWIFT/BIC code, and in some cases, a copy of the recipient’s identification document.
To avoid high fees you can opt to use an online money transfer provider such as WorldRemit to pay for your transfer to Turkey.
With XE you can send money online to Turkey using your debit card. But before making a payment, make sure you understand all the processing fees in place.
Bank and wire transfers are the most common ways of sending money Turkey as they are secure, reliable, and convenient. However, they often come with the slowest delivery times in case speed is an important factor for you. You can use XE to send money using a bank or wire transfer at a great rate as long as you’re happy for your transfer to take 1-2 days.
If you want to make an international transfer using wire transfer, you will need to know the SWIFT/BIC code of your recipient in Turkey. If you’re unsure what it is, check out our SWIFT calculator to figure out the correct SWIFT code in Turkey.
When sending money to Turkey from United Kingdom using bank account transfer you are paying for the outgoing fees, flat fees, currency exchange rate markup, and sometimes an additional incoming transfer fee. In some cases, the intermediary and incoming transfer fees will be covered by the receiving bank or financial institution in Turkey; this is something that should be clarified ahead of making payment.
On the other hand, you usually only pay a sender fee and a small exchange rate markup when using online money transfer services such as XE, WorldRemit and Wise.
Before sending money to Turkey from United Kingdom, you should consider the following:
This one’s easy. Simply use our comparison table above to find the best provider to send GBP to TRY. After that it’s just a process of making your transfer via the following steps:
Your recipient has a few methods available to receive your money in Turkey. These will vary between providers, but it is possible to find services that will:
If your recipient is going to collect or have the money delivered to them in Turkey, then they will usually need the following:
The amount of TRY you can receive from United Kingdom will largely depend on the money transfer service you are using. There are providers that specialise in smaller remittance payments, and providers who specialise in larger transfers.
You should also check if there are any government regulations pertaining to the amount of TRY that can be received in Turkey or sent from United Kingdom before making your transfer.
April is a trained journalist and the Content Editor for MoneyTransfers.com. She has 10 years experience writing about a diverse range of subjects, from financial services to arts and entertainment. When she’s not writing about global remittances she can be found daydreaming about her next holiday abroad.