Please note: You should always refer to quotes you receive from transfer services themselves directly for exact amounts as they may vary from our estimates.
Looking for the best way to send money from the United Kingdom to family, friends or businesses in Turkey (or even to your own overseas bank account)?
Don't head straight to your British bank – compare specialist money transfer services instead. They nearly always offer better TRY exchange rates and lower fees, so for the same amount of pounds you send, your recipient will receive more Turkish liras.
Of the companies we've compared, OFX is among the cheapest, with competitive exchange rates and fees starting from £0. Need a really fast transfer? Xe can get money to your recipient in Turkey within minutes.
Best ways to send money to Turkey from the UK
The best way to send money to Turkey depends on your payment method, how you want your money to be received and how fast you need it to arrive.- Online money transfer provider. When buying pounds or Turkish liras , money transfer specialists typically offer better rates and cheaper fees than a local bank.
- Bank transfer. Bank transfers are an easy way to send money to Turkey, but they charge extra for the convenience and are often slower than other methods. UK banks generally add a 3% to 6% markup onto exchange rates.
- Cash pickup. If you need your money to arrive fast, cash pickup gives your recipient instant access to the money you've sent when they collect it from their agent location in Turkey.
- Mobile wallet. Essentially an electronic wallet service, mobile wallets allow users to store, send and receive eligible currencies using their phone, often with fees attached.
- Home delivery. If your recipient may struggle to get to a cash pickup location, you may be able to opt for door-to-door cash delivery.
Compare the best money transfer companies to send money to Turkey
Use our table to compare the best money transfer companies to send money to Turkey. You can compare deposit and receiving options, fees and transfer speeds, then click the "Go to site" button when you've found the best one to get your money to Turkey.Cheapest way to send money to Turkey
Bank transfers are typically the cheapest way to get your money to Turkey. OFX and Remitly have some of the lowest bank transfer fees of the brands we've compared.
When you're hunting down the cheapest ways to send money to Turkey, it's more important to look at the overall cost of your transfer. This has a couple of elements:
- Transfer fees. While still cheaper than your British bank, some money transfer services charge either a fixed or percentage-based fee for making your transfer.
- Exchange rates. Another way money transfer providers make money is to add a margin to the mid-market GBP/TRY exchange rate.
Some providers may charge the mid-market rate but add fees on top. Others may have very low fees but apply a markup on the exchange rate. This means it is important to compare exactly how many Turkish liras your recipient will end up with.
Fastest way to send money to Turkey
Many online providers can offer transfers to Turkey within minutes, although you're likely to pay a premium for the convenience.
Here are some of the fastest average transfer speeds to Turkey:- Xe — within minutes
- Remitly — within minutes
- Western Union — within minutes
Actual transfer times from the United Kingdom to Turkey can depend on several several factors including transfer amount, payment method and currency.
Safest way to send money to Turkey
The safest way to get your money to Turkey is to use a provider registered with the United Kingdom's industry regulator, the Financial Conduct Authority (FCA). All the companies we've compared in our table are overseen by a local regulator and comply with the relevant laws and regulations in both the United Kingdom and Turkey.
A great way to dive deeper is by reading our extended reviews of each transfer service and researching first-hand customer feedback on Trustpilot and similar platforms.
Large money transfers to Turkey
If you need to make a sizable money transfer to Turkey, consider using a provider such as Wise (TransferWise) or TorFX to benefit from its expertise in handling larger transfer amounts.
Using a large transfer specialist can have the following advantages:- Tax guidance. Large transfers to Turkey may have tax implications for you or your recipient. A transfer specialist can help get you up to speed on the HMRC's latest advice.
- Foreign exchange (forex) tools. Advanced tools such as forward contracts, limit orders and stop-loss orders can help you lock in the TRY exchange rate you want.
- Account manager. Some money transfer providers assign a personal account manager who can help and advise you on your transfer needs.
- Phone service. If you want to talk your transfer through with someone, providers such as CurrencyTransfer Business and Wise (TransferWise) can give you support over the phone.
How to send money to Turkey from the UK
To send money to Turkey, you'll need the necessary documentation, your recipient's details and a way to pay.
- Compare your options.
Use our table to find a money transfer provider that sends funds to Turkey. One may be better for cash pickups, while another may suit a bank transfer. Once you've found the best one for your requirements, click "Go to site". - Create an account.
You'll need to give your name, address, contact details, proof of ID and method of payment. - Provide your recipient's details.
Enter your recipient's name and contact information. If you're sending straight to their Turkish bank account, you'll need the account number, SWIFT or IBAN plus their bank branch's address. - Enter your transfer amount.
Make sure you're happy with the fees, exchange rates and transfer speed, then enter the amount you wish to send. Double-check the total Turkish liras your recipient gets. - Complete your transfer.
Send your money transfer to Turkey. Keep your transaction reference number safe so you can track your transfer. Your recipient may need it, too.
Example: Fatma sends money to Turkey
Fatma is working in the United Kingdom as a doctor and she regularly contacts his elderly parents back home in Turkey. Her parents need some funds to help pay off a mortgage, so Fatma plans to send them £2,000 from the United Kingdom.
She decides to compare a bank and a money transfer specialist to see which one can save the most money on her transaction.
Bank | Money transfer company | |
---|---|---|
Exchange rate | 1 GBP = 44.19 TRY | 1 GBP = 44.78 TRY |
Transfer fee | £10 | £2.50 |
Transfer method | Bank account deposit | Bank account deposit |
Processing time | 2 - 5 working days | Next day |
Amount received | 87,938.10 TRY | 89,438.06 TRY |
The money transfer company enables Fatma to send an extra ₺1,499.96, which is transferred straight to her parents' Akbank account.
How to choose the best money transfer companies to send money to Turkey
When choosing a money transfer provider to send money from the United Kingdom to Turkey, it's important to consider the cost, how you want your recipient to receive the funds and the turnaround time. Here are other features to review:
- Exchange rates. Banks and transfer services use the mid-market rate to trade with one another. It is the best rate you can get. However, not all money transfer providers offer you this mid-market rate so compare the TRY you're offered to the mid-market rate and look for the smallest difference.
- Transfer fees. Are you being charged a flat fee or a percentage of your transfer amount? For example, a provider offering to transfer your money to Turkey for a flat or low fee might work out better if you plan to send a large amount.
- Transfer type. Does your recipient have a Turkish bank account or is cash or cell phone top-up a better option? Each transfer type has different fees. For example, instant cash pickups tend to be more expensive than bank transfers .
- Transfer speed. If you need your transfer to arrive quickly, you can pay for an express delivery. Companies such as Western Union offer instant cash pickups but may charge more. If you're not in a rush, online money transfer services offer the best value and get your money to Turkey faster and cheaper than banks.
- Transfer limits. Find out how much you can send with each service. For example, Western Union has a transfer limit of £4,000 while OFX allows unlimited transfers.
- Discounts. Some providers may offer you a free transfer simply for signing up. Others may offer a discount if you transfer more than a specific amount of Turkish liras.
Frequently asked questions
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