In Turkey, there are various methods that help foreigners or expats to transfer your money securely in Turkey or to other countries. Some methods are quite easier and simpler, while some hold a little complex procedure for those who are new to the money transfer concept within and out of Turkey.
Different Ways to Transfer Money in Turkey or Abroad
Bank transfers, wire transfers (we can also say online money transfer), and foreign exchange brokers, are some of the best ways for money transfer. Let’s have a look at all of them to get understand their concept in a better way.
This method works when you have a foreign currency account strictly in the currency of your nation and you must have a bank account in your nation. The money transfer can easily be done within these accounts and Turkish banks perform the transactions within a week.
If you want to transfer money from your Turkish account to another Turkish bank, it is also easily possible. For this, you just have to share some details or answer some questions as per the norms of money transfer for foreigners.
No worries if you have not created any bank account in Turkey. There are also various online money transfer platforms that enable you to transfer money from Turkey to another country and vice-versa in a highly secured way. You just need to pay a small fee to use these payment methods. Many of these platforms provide a one-day transfer service and even can also transfer money instantly.
Western Union and Money gram are considered as the best alternative to transfer money in Turkey and abroad. Even, many Turkish banks have branches of these platforms for fund transfers. No doubt, both are fast and convenient, but they charge some amount of fee for the money transfer process.
Transfer Wise is another one such highly popular online money transfer platform that enables you to transfer any amount of money from the US to various countries including Turkey within a day or instantly.
Foreign Exchange Brokers
They are actually the agents who specialize in transferring funds in Turkey or to other countries. Many times, foreign exchange brokers provide high currency exchange rates as compared to banks. You can find these brokers in several Turkish cities but very less exist in rural areas.
Always keep in mind that when there are different payment methods, the transfer delivery time also varies based on which transfer method you use.