Germany and Turkey have a close relationship, and with a large number of Turkish people living in Germany, this is a popular money transfer route. For this reason, there are many ways to set up safe and speedy international remittances between these two European countries. In this guide we will shed light on one of the most practical and secure methods, as we explain how to transfer funds from Germany to Turkey using Sofort.
Approximately 7 million Turkish people live in Germany today. This migration has resulted in a German-Turkish economic relationship reliant on remittances sent to and from migrant workers. In 2015, an article reported migrant workers in Germany had sent a record $14 billion (€12.5 billion) to their families back home.
We understand that those living overseas both temporarily or as expats, are often searching for reliable ways to send money, so to make things easier for our customers in Germany, we have been searching for the best payment methods available.
Our research indicates that Klarna, who offers payment with Sofort, is a reliable and secure way of moving money between German and Turkey. This type of payment helps customers avoid being stung by extortionate exchange rates or extensive delays.
This European payments method has been a go-to solution for millions of Germans and Austrians since it was founded in 2005. Sofort offers a direct payment method to simplify and speed up the process of purchasing goods and services from online merchants. After being acquired by Klarna in 2014, Sofort became visually integrated with the Klarna Group product range in 2017. As a partnership the group continues to guarantee smooth online transactions.
Using Sofort eliminates the need for multiple online registrations, log ins and credit card details, as funds are drawn directly from your bank account. Further to this, no confidential data such as online banking log-in details are stored or collected in the process.
When a Sofort payment is made, the merchant or financial institution receives confirmation of the transfer in real time and can initiate the money transfer right away. Funds are safe with Sofort because the company follows bank-level security measures closely.
There are a number of things customers must consider before arranging an international money transfer from Germany to Turkey. These factors will largely depend on the reason for sending money overseas. Key considerations include:
Sofort removes the middle man: customers no longer need to log into separate accounts on every website. Instead, payments are synchronised using your bank account and funds are sent directly from your bank. Other benefits include:
Sofort facilitates a reported 3 million transactions every month, and with over 35,000 online merchants offering these services Sofort is widely considered a safe and secure money transfer provider across Europe. In addition to this, the company’s integration with Klarna is beneficial for global consumers as Klarna is also a widely used payment method.
We encourage everyone to compare money transfer options before arranging any payments, to avoid common pitfalls such as high transfer fees, long wait times or unfavourable exchange rates.
One of the best options for sending money from Germany to Turkey is international money transfer specialist TransferGo. This award-winning company was founded specifically to help immigrants in Western Europe send money abroad to payees across Europe.
TransferGo has identified the Germany to Turkey remittance corridor as one of its fastest growing markets and due to the business model, the platform is purpose-built to support money transfers sent between these European countries. TransferGo supports Sofort payments as well as pay-to-card options.
When making a Sofort money transfer from Germany to Turkey using TransferGo, you will need to provide recipients details. These can include:
When sent via Sofort, the money will be sent directly to your recipient’s bank account within 2 working days.
We hope this guide to sending money from Germany to Turkey using Sofort has helped you make a decision about whether you would like to arrange this type of international money transfer. We believe Sofort payments are an excellent option for anyone who wants to directly transfer funds from one bank account to another bank account overseas: find out more through TransferGo. If in doubt, check out our comparison engine to weigh up your options, should you wish to take a different route.
Elliott is a former investment banker with a 20 year career in the city of London.
During this time he held senior roles at ABN Amro, Societe Generale, Marex Financial and Natixis bank, specialising in commodity derivatives and options market-making.
During this time, Elliott’s client list included Goldman Sachs, JP Morgan, Credit Suisse, Schroders Asset Management, and the Pennsylvania State Public School Employees Retirement System, amongst others.
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.