There are several ways on how to transfer or remit money from Turkey. People who are currently working and living in Turkey may have better options these days when sending money to their loved ones overseas. This article will provide three methods in order to help you send your funds abroad.
Things You Will NeedMoney, time, important documents, computer and internet connection
Send money through bank transfer. There are several banks that offer convenient and secure expat banking services for foreign nationals who are working and living in Turkey. Some banks offer expatriate banking program which provide internet banking, an ATM service and telephone banking through the English language.
Open an account at any branch or through the bank's online services. The first time you open an account you will need a valid passport, (if you have been issued one, a Turkish residence permit is acceptable), evidence of a permanent address while in Turkey and a tax identification number (this is accessible from any tax office with the same documents). You may just click the word "English" on top, left or right side of the bank's web page so that you can read any information that you need from their site's services through this language.
Be ready to answer a few questions regarding the moneyÂ´s origin and destination because these questions are generally asked as part of the ongoing campaign to prevent or stop the flow of funds for any terrorist activities. Take note that the more transfers you make, the process becomes more convenient and easier on your part because the bank could gain confidence through your legitimate transactions. One example is the Ä°Åbank. There are other available banks that you can look into and all you need is research and read reviews.
You could use wire transfer services like Western Union or Moneygram to send your funds. These money transfer businesses have branch offices in Turkey or may have business connections to certain banks in Turkey. You could also check other reliable websites that may offer this kind of transfer services through the internet.
Western Union and Moneygram offer online services if you don't have time to go to their branch to send your money. Check each site's service fee and compare the prices so that you can save some of your money when you're ready to transfer funds to your designated recipient or recipients.
The name of your recipient that you used when filling-out the money transfer form should be the same on the ID that your receiver will present once he or she will collect the money that you had sent. You may also be required to provide a valid ID when sending your funds to your recipient although this will depend on the money transfer service that you'll be using.
You will be given an option if you want to avail of their fast and convenient services. Take note of the reference number that they provide and be sure you tell your recipient in advance that you're sending money so that he or she can take a valid ID upon picking-up the funds that you had sent.
Avail of the foreign exchange brokers since many of them are freelance agents that specialize in transferring money abroad. They generally offer services for international fund or money transfers.
Foreign exchange brokers may be able to offer a better deal when it comes to currency exchange rates compared to banks sometimes. They could also provide you with a good advice about taxes and fees based on the funds that you're going to send.
Just research online for "foreign exchange brokers in Turkey" and read reviews about the service. After that, register for an online account and then you could start your money transfers the same day.
Many people use wire transfer services like Western Union or Moneygram to send their funds to Turkey due to the discounted offers that they had recently given to their customers especially those who constantly send money to their loved ones. Others still use the banks because they believe that it's the safest way to send funds abroad.
Tips & Warnings
Look for foreign exchange brokers that have years of experience in transferring money internationally so that they can easily answer any questions that you may have on the most economical way to send money abroad. The benefits of using this type of service for international money transfers may include a discounted online exchange rates. You may easily view the live rates at their site. Usually, the rate you see on their site is also the rate that you'll pay.
It would be more convenient if you were able to open a foreign currency account in Turkey and have a bank account in your home country when you choose to send money through a bank transfer. Turkish banks could process these type of transactions within a week.
Avoid sending money via registered mail. Your recipient may not receive the money that you had inserted and you have no right to complain if the money gets loss because there's no policy to include paper bills in any mail. It's advisable to use a safe method when you want to send or wire money even if you pay a fee rather than loosing all the money.
Check if the international remittance service could offer you an option in sending money instantly and conveniently to any bank account in the specific country of destination. Inquire further whether the deposited funds will be available at the exact time that they will assure you.
Avoid fraudulent transactions. Some international money transfer services could offer false promises so you'll end up calling them several times because your money did not arrive at the specific time. They may give you excuses that could make you upset because you're recipient was not able to receive the money. Use reliable money transfer services with good costumer reviews especially when you want to send money for your loved ones in times of emergency.