Send Money to Turkey: Cheapest Ways & TRY Rates 2026

Turkey sits at the crossroads of Europe and Asia, with a large diaspora across Germany (~3 million), France, the Netherlands, Austria, and the UK. The EUR-to-TRY corridor is the highest-volume, but USD and GBP transfers are also common.

For a €1,000 transfer to Turkey:

• Wise: ~€5 fee, 0% markup — best value
• Remitly: Competitive rate, fast delivery
• Revolut: Free SEPA funding, interbank rate (weekday) — good for European senders
• WorldRemit: Bank deposit and cash pickup
• Western Union: Higher cost but cash pickup in all Turkish cities

The Turkish Lira has been one of the world's most volatile currencies since 2021. The central bank's unconventional monetary policy (cutting rates while inflation was rising) caused TRY to lose over 50% against the euro. In 2026, the lira has stabilized somewhat after rate hikes, but remains volatile.

What this means for senders

• Timing matters more here than on any other corridor. TRY can move 2-5% in a single week. Setting a rate alert with Wise or XE can save you hundreds of lira.
• Provider markup differences are amplified. A 2% markup on €1,000 when EUR/TRY is 35 costs ₺700. At EUR/TRY 40, it costs ₺800. Volatile currencies make markups more expensive.
• Consider sending EUR directly. If your recipient has a EUR account at a Turkish bank (İş Bankası, Garanti BBVA, and others offer EUR accounts), send EUR and let them convert locally when the rate is favorable.

For more on how markups work, read our exchange rate markup guide. For central bank impact on TRY, see our central bank decisions guide.

Turkey uses IBANs — 26 characters starting with TR. Your recipient can find their IBAN in their banking app.

Rates are illustrative — check live rates here.

Over 12 monthly transfers of €1,000, using Wise instead of a bank saves approximately ₺20,000+ (~€530).

• For European senders: No tax on personal transfers from EU/UK. SEPA transfers to Turkey are not supported (Turkey is not a SEPA member) — transfers go via SWIFT or provider networks.
• For recipients in Turkey: Personal remittances from abroad are not subject to income tax. Turkey does not tax inbound gifts or family support.
• Turkish IBAN required: All domestic bank accounts use Turkish IBANs (26 characters, TR prefix).
• BRSA regulation: The Banking Regulation and Supervision Agency (BRSA) oversees Turkish banking. All licensed providers can deliver to regulated Turkish banks.

For more, read our safety guide and cheapest transfer guide.

Sources: World Bank RPW, Central Bank of Turkey (TCMB).