Send money to Turkey

Wise consistently offers the tightest TRY exchange rate margins, especially for EUR and GBP senders. From Germany (the largest corridor), providers like Azimo, WorldRemit, and Wise compete aggressively. Fund via SEPA bank transfer from Europe or ACH from the US to avoid card processing fees.

Bank deposits via SWIFT typically arrive in 1–2 business days. Wise and some other providers use local EFT rails, which can deliver same-day if initiated before Turkish banking cut-off times. Cash pickup at Western Union or MoneyGram locations is usually available within an hour.

Turkish IBANs are 26 characters: 'TR' followed by 2 check digits, a 5-digit bank code, a 1-digit reserved character, and a 16-digit account number. Example format: TR33 0006 1005 1978 6457 8413 26. You must use IBAN for all bank transfers to Turkey — legacy account numbers alone are not sufficient.

The lira has been in a sustained decline due to Turkey's unconventional monetary policy, high inflation (which peaked above 85% in 2022), and geopolitical factors. This means the TRY rate can move 1–3% in a single week. Always compare rates at the moment of transfer and consider setting rate alerts for large transfers.

Papara is a popular Turkish digital wallet with over 25 million users, primarily among younger demographics. While direct international-to-Papara delivery is limited, your recipient can instantly transfer funds from their Turkish bank account to their Papara wallet at zero cost. Bank deposit remains the most reliable delivery method from abroad.

You need the recipient's full legal name (as registered with their Turkish bank), their IBAN (26 characters starting with TR), and optionally the SWIFT/BIC code for their bank (e.g., GARBTRIS for Garanti BBVA, ISBKTRIS for Isbank). The IBAN alone is technically sufficient for routing within Turkey.

Turkey does not impose a tax on incoming personal remittances. However, Turkey's Banking Regulation and Supervision Agency (BDDK) monitors large incoming transfers for anti-money-laundering compliance. Deposits above $10,000 equivalent may trigger routine inquiries from the receiving bank.

Western Union and MoneyGram operate cash pickup locations throughout Turkey, concentrated in Istanbul, Ankara, Izmir, Bursa, and Antalya. PTT (the Turkish postal service) also partners with transfer operators for cash collection. However, bank deposit via IBAN is significantly more popular on Turkish corridors due to high banking penetration.

Germany is the single largest source of remittances to Turkey. Wise, Azimo, WorldRemit, Western Union, and MoneyGram all serve the EUR-to-TRY corridor. Wise and Azimo typically offer the best exchange rates for SEPA-funded transfers, while Western Union provides the most cash pickup locations in Turkey.