What’s the Cheapest Method to Send Money to Turkey?

What's the Cheapest Method to Send Money to Turkey

Wondering about what it would cost you to send money to Turkey? If you’re looking for the cheapest method, you have to do some thorough research before getting started.

Many of the popular money transfer methods come with hidden fees and charges. If you make a smart choice, you can save a lot of money.

Every time you send money abroad, you have to pay a flat upfront fee. It is a common requirement for all type of financial services – bank wiring, online money transfers or using the services of private transfer companies. A problem arises when these financial institutions apply exchange rates that are less than favorable. Labels like commission free or zero charges are a widespread trick for luring customers but you also have to be aware of the exchange rates.

Let’s say you choose Travelex (see Table 1) to send 1,000 dollars from the US to Turkey. According to Travelex’s official presentation, you’re free from paying an upfront tax. But once you send the money to Turkey, a hidden conversion rate cost of 130 dollars will be applied.

In comparison, TransferWise (Table 1) has a 10-dollar upfront tax and no hidden conversion costs. Some money transfer services can charge both upfront fees and conversion taxes. Take a look at the tables below if you want to know how much it will cost you to send money to Turkey, depending on your current location.

Interested in sending money to other locations? Take a look at our money transfer taxes guide about the Philippines, Brazil, Australia, Kenya, Mexico, Macedonia, Poland, Egypt, Romania, Indonesia, India, Bangladesh, Ukraine, Bolivia, Serbia, Pakistan, Colombia, Morocco and Chile.

Table 1: Sending $1000 from the US to Turkey

Transfer method Fees to send $1000 USD Hidden conversion cost Total fees Time for the transfer to arrive
OFX (previously USForex)* $0 $7.5 $7.5 1-2 days
TransferWise $10 $0 $10 1-4 days
Paysera $4 $10 $14 1-3 days
Western Union (slow) $5 $25 $30 3-5 days
Ria Money Transfer (slow) $5 $35 $40 3-5 days
Skrill $39 $1 $40 3-5 days
Ria Money Transfer (fast) $8 $35 $43 Minutes
Western Union (fast) $20 $25 $45 Minutes
MoneyGram (slow) $25 $28 $53 3-5 days
Wire transfer $25-40 $10-20 $35-60 3-5 days
Xpress Money $15 $49 $64 3-5 days
MoneyGram (fast) $81 $28 $109 Minutes
Travelex $0 $130 $130 3-5 days
MoneyMoveIT $5 $301 $306 1-3 days

Note:

  • Minimum transfer of $500 for OFX (previously USForex).

Table 2: Sending £1000 from the UK to Turkey

Transfer method Fees to send £1000 GBP Hidden conversion cost Total fees Time for the transfer to arrive
UKForex* £0 £7.5 £7.5 1-2 days
TransferWise £10 £0 £10 1-4 days
TransferGo £1 £12 £13 1 day
Paysera £3 £12 £15 1-3 days
Western Union £5 £12 £17 Minutes
Azimo £1 £16 £17 1-2 days
MoneyGram £5 £25 £30 Minutes
Exchange4free £0 £35 £35 3-5 days
1st Contact Forex £15 £28 £43 1-3 days
Wire transfer £15-25 £10-30 £25-55 3-5 days
Travelex £0 £62 £62 3-5 days
Skrill £27 £40 £67 3-5 days
Small World FS £20 £88 £108 3-5 days
Xpress Money £26 £190 £216 3-5 days
MoneyMoveIT £2 £214 £216 1-3 days

Note:

  • Minimum transfer of £500 for UKForex rate.

Table 3: Sending $1000 from the Canada to Turkey

Transfer method Fees to send $1000 CAD Hidden conversion cost Total fees Time for the transfer to arrive
CanadianForex* $0 $7.5 $7.5 1-2 days
TransferWise $12 $0 $12 1-4 days
Paysera $5 $11 $16 1-3 days
Exchange4free $0 $45 $45 3-5 days
Western Union $40 $25 $65 Minutes
Skrill $29 $40 $69 3-5 days
Wire transfer $25-40 $20-30 $45-75 3-5 days
MoneyGram $50 $66 $116 Minutes
Travelex $0 $129 $129 3-5 days
Xpress Money $16 $191 $207 3-5 days

Note:

  • Minimum transfer of $500 for CanadianForex.

Table 4: Sending €1000 from the Western Europe to the Turkey

Transfer method Fees to send €1000 EUR Hidden conversion cost Total fees Time for the transfer to arrive
UKForex* €0 €7.5 €7.5 1-2 days
TransferWise €10 €0 €10 1-4 days
TransferGo €1 €10 €11 1 day
Paysera €3 €12 €15 1-3 days
Azimo €3 €16 €19 1-3 days
Exchange4free €0 €35 €35 3-5 days
Western Union €5 €36 €41 Minutes
Skrill €29 €40 €69 3-5 days
Wire transfer €20-35 €20-40 €40-75 3-5 days
MoneyGram €24 €61 €85 Minutes
Small World FS €10 €111 €121 3-5 days
Xpress Money €18 €191 €209 3-5 days
Travelex €0 €678 €678 3-5 days

Note:

  • Minimum transfer of €500 for UKForex.

Table 5: Sending $1000 from the Australia to Turkey

Transfer method Fees to send $1000 AUD Hidden conversion cost Total fees Time for the transfer to arrive
OFX (previously OzForex)* $0 $7.5 $7.5 1-2 days
TransferWise $10 $0 $10 1-4 days
Paysera $5 $12 $17 1-3 days
Western Union (slow) $10 $31 $41 1-3 days
Exchange4free $0 $45 $45 3-5 days
Western Union (fast) $30 $21 $51 Minutes
Skrill $29 $40 $69 3-5 days
Wire transfer $25-35 $30-60 $55-95 3-5 days
Travelex $0 $98 $98 3-5 days
MoneyMoveIT $7 $99 $106 1-3 days
MoneyGram $60 $64 $124 Minutes
Travel Money Oz $0 $215 $215 3-5 days
Xpress Money $58 $197 $255 3-5 days

Note:

  • Minimum transfer of $500 for OFX (previously OzForex).

There are 2 comments

We'd love to hear from you!

Your email address will not be published. Required fields are marked *