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Boasting a fascinating mix of cultures and a history dating back thousands of years, Turkey is one must-visit country on the bucket list of many travellers. It’s also the site of Gallipoli, a hugely significant place for Australians, making Turkey a commonly visited destination by Aussie tourists.
If you need to send money to Turkey, there are plenty of transfer options and methods to choose from. Before you select one, however, it’s important that you shop around to find the cheapest transfer provider available.
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Let’s start with a fact that many people are unaware of: in the vast majority of cases, banks are from the cheapest money transfer option available. Banks offer quite low exchange rates for international transfers and usually charge high fees as well, so sending money overseas can be a significant blow to your bank balance.
But there are several more affordable options available that can also guarantee safe and secure transfers. Online money transfer companies like OFX and WorldFirst specialise in moving money around the world. They offer much better exchange rates and lower fees on international transfers, allowing you to enjoy a much more attractive deal when you send money to Turkey.
When Mesut wants to send money to his brother in Istanbul, he approaches his Australian bank to find out how much it will cost. Surprised by the substantial transaction fee he will have to pay, Mesut decides to see if a specialist transfer provider can offer him a more affordable option. He compares their services in the table below.
As the table shows, Mesut can save AUD $25 in fees by using the money transfer company and can also send an extra 54 TRY.
| Bank | Money transfer company | |
|---|---|---|
Exchange rate | 1 AUD = 2.013 TRY | 1 AUD = 2.067 TRY |
Tranfer Fee | $25 | $0 |
| Transfer method | Wire transfer | Online transfer |
| Processing time | 1-3 days | 1-3 days |
| Amount received (in TRY) | 2,013 TRY | 2,067 TRY |
If the situation ever arises where you need to send a cash transfer to Turkey as fast as possible, rest assured that there are providers available who can get the funds to your recipient in as little as 10 minutes. However, just be aware that you will typically be charged extra for an emergency transfer, with high fees and lower exchange rates the norm. Even though time may be of the essence, make sure to review all the details and the full cost of your transaction before sending your funds.
Back to topBoth Western Union and MoneyGram provide international cash transfers, allowing your recipient to collect the money you send from locations throughout Turkey. Just make sure to remind your beneficiary to take a valid form of photo ID and details of the transaction with them when they collect the funds. The details of some popular cash pickup locations in Turkey can be found below:
Aksemsettin Sube
Telsiz Mah Seyitnizam Cad No 1 Zeytinburnu Istanbul,
+90-212-4158340
Open 9am to 6pm Monday to Friday
Atakoy 5 Kisim Guney Carsisi
No: 34 35 36 Atakoy Istanbul, Istanbul
+90-212-5592976
Open 9am to 5:30pm Monday to Friday
Ayas Ankara
Cami Atik Mah Cumhuriyet Meydani No:2 C Ankara, Ankara
+90-312-7122263
Open 9am to 5:30pm Monday to Friday
Ulus Meydani 2 Ulus 06030 Ankara, 6030
+90-312-3106200
Open 9am to 5:30pm Monday to Friday
Bank Asya
Kisla Cad Kurtoglu Is Merkezi 21/7
Eyup
Istanbul,
02126746643
Open 9am to 5pm Monday to Friday
Nuruosmaniye Cad No 90 92
Istanbul, 212
5191165
Open 9am to 6pm Monday to Friday
Denizbank
Sanayi Cad. 13
Ankara, 312
3097929
Open 9am to 6pm Monday to Friday
Necatibey Cad. 11A
Kizilay Cankaya
Ankara, 06440
3122301480
Open 9am to 6pm Monday to Friday
The Department of Foreign Affairs and Trade warns travellers to Turkey to exercise a high degree of caution, so keep a few safety tips in mind when picking up cash:
Although transfer methods vary from one provider to the next, you will usually have to complete the following steps:
