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Turkmenistan

Turkmenistan is not a particularly easy country to send money to from other countries. That being said, there are some half-decent options available to you.

Jonathan Merry
Author 
Jonathan Merry
3 minutes
July 18th, 2023
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What Ways Can I Send and Receive Money in Turkmenistan?

You’ll be able to make a money transfer to or from Turkmenistan in the following ways.

Ways to Send Money to Turkmenistan

You can send money to Turkmenistan by:

  1. Money Transfer Provider: The cheapest and quickest way to send money is usually to use a money transfer provider

  2. Direct Wire Transfer: You’ll also be able to send it directly via wire bank transfer, but this way can take longer and cost more

  3. International Money Order: You may choose to send an international money order, but these aren’t always available and they often come with limitations

Ways to Receive Money in Turkmenistan

You can receive funds in Turkmenistan through:

  1. A Bank Deposit: The money will be sent straight to your bank account, but it may take some time to access and withdraw it

  2. A Mobile Wallet: You can also receive money in an electronic wallet on your mobile phone, where it will often be available immediately

  3. Cash Pickup and Delivery: You might want to arrange a cash pickup from a local agent, while some places also have a system for door-to-door cash delivery

Current Exchange Rates for Turkmenistan

The current exchange rate for the Turkmenistani Manat (TMT) is 0.84204 TMT per American Dollar (USD) as of the time this was written. The TMT (New Manat) was introduced in 2009 to replace the older Manat, which was pegged to the Russian Ruble at a rate of 1 Manat per 500 Rubles.

The TMT has seldom fluctuated far in any direction against the USD. You can reasonably expect the rate of 3.50 TMT per USD to remain the exchange rate going forward, roughly speaking and barring any unforeseen circumstances.

What’s the Fastest Way to Send Money to Turkmenistan?

The fastest way to send money to Turkmenistan is through Western Union’s fast option. With Western Union’s fast option, you can expect your money to reach its Turkmenistani destination in a matter of minutes. Cash pickups are the fastest and easiest method to organize, while bank transfers take longer. The main downside to Western Union’s fast option is the fact that it is more expensive than most of the competition. You can always expect to pay more with Western Union.

What’s the Cheapest Way to Send Money to Turkmenistan?

The cheapest way to send money to Turkmenistan is through MoneyGram’s slower option. MoneyGram charges small upfront fees for each transfer. They make most of their money through hidden currency conversion markups, however. Regardless, when both of these factors are considered, you save when you use MoneyGram to send money to Turkmenistan.

What’s the Easiest Way to Send Money to Turkmenistan?

The easiest way to send money to Turkmenistan is through Payoneer. With Payoneer, you can choose between one of several money transfer methods to suit your needs. We recommend you use Payoneer to send money to the recipient’s debit card, which offers greater convenience and security when compared to other methods. With this method, the recipient can withdraw the money right away upon the transfer’s completion. You can also opt to send your Payoneer balance to the recipient’s bank account if that suits you better.

Keep in mind that Payoneer is a diverse and adaptable method for holding money and sending it abroad. Feel free to find out more about the servicesthey offer and how they may suit your needs. They also offer unique promotions for using specific services which they offer.

What’s the Overall Best Way to Send Money to Turkmenistan?

For the sake of simplicity and ease of access, Western Union is the overall best way to send money to Turkmenistan. Western Union is a tried and tested company that delivers money across the globe. Using Western Union to send money is easy for both yourself and the recipient. Western Union agents can be found throughout Turkmenistan, and their services are available in most other countries.

Want to Send Money Somewhere Else?

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Send Money to and From Turkmenistan With These Guides

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Contributors

Jonathan Merry
Jonathan is the founder and editor of MoneyTransfers.com. Jonathan is highly experienced in the currency transfer market, having previously worked in the FX trading industry, alongside being an avid traveller. Using his knowledge he identified a need for transparency and further education to help people save money on their money transfers, leading to the creation of MoneyTransfers.com