Send money to Turkey
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Today's best rates to Turkey
As of 26 August 2026, sending £1,000 to Turkey, your recipient gets the most with Instarem: 65,627.80 TRY, the best of 7 providers compared.
| Provider | Rate | Fee | Recipient gets | Speed | |
|---|---|---|---|---|---|
65.628 0.05% worse | £0 | 65,627.80 TRY | Within 2 days | Send | |
65.392 0.41% worse | £0 | 65,392.31 TRY | Within 2 days | Send | |
65.640 0.03% worse | £5.13 | 65,303.66 TRY | Within 2 days | Send | |
TransferGo | 65.173 0.74% worse | £0 | 65,173.22 TRY | 1–2 days | Send |
64.210 2.21% worse | £0 | 64,210.10 TRY | 1–2 days | Send | |
63.924 2.64% worse | £0 | 63,924.35 TRY | Up to 4 days | Send | |
61.323 6.61% worse | £4.99 | 61,016.84 TRY | Minutes to days | Send |
Turkey is one of the UK's favourite places to buy in the sun — Fethiye, Bodrum and the Antalya coast draw British holiday-home buyers and retirees, alongside families sending support and investors chasing citizenship. The transfers are often large, and two things make getting the exchange right especially important here: the sums involved, and the fact that the Turkish lira is volatile. Between a UK high-street bank and a currency specialist the gap is routinely 2–4% of the whole transfer — on £10,000 that's the difference between losing about £40 and losing £300+ to the rate alone. Turkey uses the IBAN, so paying into a Turkish account is straightforward; keeping the most lira (and timing the rate) is the skill.
How to send money to Turkey from the UK
Three practical routes move money from a UK account to a Turkish one. They nearly all arrive — the difference that matters is how many lira are left once the exchange rate has taken its share.
Bank transfer
The familiar option, and usually the most expensive. UK banks build a margin of 2–4% above the mid-market rate into the conversion, add a £15–£25 fee, and send by slow SWIFT wire (Turkey is outside the EEA, so 2–5 days is common). On £10,000, a 3% margin alone is about £300.
Money-transfer provider
Specialists — Wise, Currencies Direct, OFX, TorFX, Moneycorp — undercut the banks on the rate. Margins run 0.2–1.0%, or effectively zero on Wise's model, and brokers offer forward contracts to fix a rate. On £10,000 the all-in cost is often around £40 rather than several hundred.
App or prepaid card
Apps such as Wise and Revolut are competitive for smaller transfers and double as spending tools on holiday. But for a property deposit or balance into a Turkish account, a specialist broker's rate and rate-lock tools usually win.
What you need to send money to Turkey
Turkish bank details and IBANs
Turkey uses the IBAN system even though it isn't part of Europe's SEPA area, so every Turkish account has an IBAN — 26 characters, starting "TR". You'll need the recipient's full name as the bank holds it and that IBAN; some providers also ask for the bank's SWIFT/BIC code. Check the IBAN character by character against something the recipient sent in writing — a single wrong digit is one of the most common reasons a transfer is delayed or bounced back.
ID checks and verification
Before processing a payment, a UK provider must confirm who you are (Know Your Customer, under the Money Laundering Regulations). For a first or modest transfer, expect to give your name, address and date of birth, plus a photo ID and proof of address. Above roughly £8,000–£10,000 expect a source-of-funds check too. In Turkey, from 2026 banks record the source and purpose of transfers above 200,000 TRY.
How long does it take to send money to Turkey?
Turkey isn't on Europe's SEPA network, so a UK-to-Turkey transfer crosses currencies and, usually, the SWIFT network. How fast it lands depends far more on the provider than on the distance.
Delays usually come down to one of: missing the provider's daily cut-off, a first-time identity check, a UK or Turkish public holiday and weekends, or an incorrect IBAN or recipient name.
Fees and exchange rates for UK to Turkey
Fees range from £0 (many specialists on a standard transfer) to £25+ (a bank wire). A flat fee is easy to compare; the exchange-rate margin usually isn't — which is exactly why it costs you more. And with a volatile lira, when you convert matters as much as who you convert with. Here's where the money leaks.
The exchange-rate margin
The real cost of most transfers. Banks: 2–4% above the mid-market rate. Specialists: often 0.2–1.0%, tighter still on larger amounts. On £10,000+ the gap is routinely £150–£300.
Correspondent-bank fees
A SWIFT wire can pass through intermediary banks, each taking a cut, so the recipient gets less than the screen promised. Specialists paying by local lira rails usually avoid this entirely.
Lira volatility
Unlike the euro or dollar, GBP/TRY can move sharply in weeks. If a payment is due later — a property balance, say — a forward contract to fix today's rate can matter more than shaving the margin. Judge an offer by the lira that arrive.
Sending money to Turkey to buy property
Turkey is one of the most buyer-friendly corridors here: no foreign-buyer ban, an active citizenship-by-investment route (a real-estate purchase of US$400,000, held for three years, can lead to a Turkish passport), and prices well below the Mediterranean average. British buyers cluster around Fethiye (Ölüdeniz, Çalış), the Bodrum peninsula, the Antalya coast (Kalkan, Kaş, Alanya) and budget-friendly Didim. The process is relatively quick, but has a few Turkey-specific steps.
Tax number & valuation
You get a Turkish tax number (Vergi Kimlik Numarası) and — mandatory for foreign buyers — an official valuation report (Ekspertiz Raporu) so the property can't be sold to you at an inflated price.
Contract & deposit
A private purchase contract (Satış Vaadi Sözleşmesi), often before a notary, sets the terms; you pay a deposit, commonly 10–30%.
Title deed transfer (Tapu)
At the Land Registry you pay the balance and the title deed (Tapu) is transferred into your name — a sworn translator must attend if you don't speak Turkish.
Budget an extra 4–7% on top of the price: the property transfer tax (Tapu Harcı) is 4% of the declared value, usually split with the seller, plus legal fees of around 1%, the valuation, and notary and land-registry fees. Two ongoing costs to know: annual property tax (Emlak Vergisi), and compulsory earthquake insurance (DASK), which every Turkish property must carry. Owning property can support a renewable residence permit, though it doesn't automatically grant residency.
Lock in today's rate with a forward contract
This matters more in Turkey than almost anywhere: purchase prices are often set in pounds, euros or dollars, and the lira can swing sharply between paying your deposit and paying the balance weeks or months later. A forward contract lets you fix today's exchange rate now and pay for the currency later, usually against a small deposit, so a sudden move can't blow up your sterling budget. Many buyers use a spot transfer for the deposit and a forward contract for the balance.
So once you've agreed a price and a completion date, ask about a forward contract before you convert.
Is it safe to send money to Turkey?
Any UK company that handles money transfers must be authorised by the Financial Conduct Authority and must keep customer money in accounts fully segregated from its own ("safeguarding"). Checking an unfamiliar provider on the FCA Register takes about thirty seconds. On a property purchase the bigger risks are a bad title or a diverted payment — these are worth knowing before you move a large sum.
Use an independent lawyer
Rule: in Turkey money is often paid direct to the seller rather than into an escrow account, so appoint your own independent lawyer to verify the title (Tapu) and run due diligence before any large payment leaves the UK.
Completion-day payment diversion
Rule: criminals hack seller or lawyer emails and send fake "new IBAN" instructions before the balance is due. Confirm the account by phone on a number you already held — never one from the email.
Off-plan & fake-listing scams
Rule: for off-plan, verify the developer's planning permission and land ownership; for any property, view it in person or send a trusted representative before paying a deposit.
Check the firm is regulated
Rule: FCA-authorised firms must keep your money separate from their own, so it's protected if the firm fails. Look the firm up on register.fca.org.uk before you commit a penny.
Report fraud: Action Fraud on 0300 123 2040 or at actionfraud.police.uk (in Scotland, Police Scotland on 101).
Tax on money sent to Turkey
Moving your own money
Sending your own, already-taxed money from the UK to Turkey is not a UK taxable event — there's no tax simply for moving it. There's no fixed reporting threshold for a personal transfer, but a larger one commonly triggers a source-of-funds check, and Turkish banks scrutinise large incoming transfers. Keep the paperwork that shows where the money came from.
Watch-out: gifts and Turkish taxes
If it's a gift, it can affect UK Inheritance Tax on your estate if you die within seven years. Turkey's own charges on property you own there — the 4% transfer tax on purchase, annual Emlak Vergisi, and compulsory DASK earthquake insurance — are separate from the transfer itself. If you're buying, take professional advice.
How do most people move money to Turkey?
For most holiday-home buyers, retirees and families, the cheapest route is a specialist currency company paying lira straight into a Turkish bank account — not a high-street bank on a SWIFT wire. For a one-off move a spot deal is fine; but because the lira is volatile, for a property completion or another future payment a forward contract to lock the rate can save more than any fee. Whatever you pick, judge it on the lira that actually arrive — and confirm the receiving account by phone before you send.
Frequently asked questions about sending money to Turkey
Almost all of the cost is the exchange-rate margin, not the flat fee. A UK bank typically takes 2–4% of your transfer in a worse rate; a specialist typically takes 0.2–1.0%. On £10,000 that's roughly £200–£300 with a bank versus around £40 with a specialist provider — and with a volatile lira, timing the conversion matters too.
A specialist money-transfer provider using or close to the mid-market rate and paying by local lira rails, rather than a UK high-street bank on a SWIFT wire. Compare the total cost — fee plus exchange-rate margin — for your exact amount using the table above.
Yes. Turkey uses the IBAN system even though it isn't in SEPA — a Turkish IBAN is 26 characters, starting "TR", and it's required for any transfer into Turkey. Some providers also ask for the bank's SWIFT/BIC code. Always check the IBAN against details the recipient sent you in writing.
Often about one business day with a specialist paying by local rails, and minutes for some card-funded app transfers. Because Turkey is outside the EEA, a high-street bank wire over SWIFT typically takes 2–5 business days.
Yes. There's no foreign-buyer ban, and a real-estate purchase of US$400,000 held for three years can lead to Turkish citizenship. You'll need a Turkish tax number and a mandatory valuation report, and a forward contract is worth considering given how volatile the lira is. Use an independent lawyer, as funds are often paid direct to the seller rather than into escrow.
Not for sending your own money — that isn't a taxable event in the UK. Gifting money can have UK Inheritance Tax implications if you die within seven years. Turkey's own property taxes — the 4% transfer tax, annual Emlak Vergisi and compulsory DASK insurance — apply to what you own there, not the transfer.
Our sources & how we keep this current
Last updated: July 2026. The live rates above refresh automatically, and we review the rest of this guide every month — updating it whenever the rules on payments, tax or regulation change.