You have three main options when it comes to how to send money to Turkey and which one is the best for you depends partly on your individual circumstances.
But whether you need to send money to Turkey to make payments on a property, to transfer your pension or just to send money to friends or family, doing some research in to the best way of transferring cash will save you a considerable sum in the long-term.
You could use a bank, a Money Sending Bureau or a foreign exchange broker when you send money to Turkey.
Using a bank is a sensible option if you need to send Turkish lira to somebody with a bank account in Turkey.
Indeed, your local high street bank will help you to set up a transfer to banks such as Adabank or the Turkish Bank with just one phone call or visit.
Unfortunately, this convenience will come at some cost. Per-transfer fees will be enforced each time you move money internationally and you will not be accessing very competitive lira exchange rates.
Money Sending Bureaus pose a similar problem, with per-transfer fees that can come in at ten or even 15 per cent of your transaction value.
However, these small establishments are worth bearing in mind if you need to transfer money to somebody in Turkey who cannot access a bank account.
But if you want to find the cheapest way to send money to Turkey, then it is wise to enquire with foreign exchange brokers to see if they can help you.
Foreign exchange brokers send huge amounts of currency around the world on a daily basis and as such they can provide you with a very competitive exchange rate on the lira.
But RationalFX will go one further than this; we can provide you with a low fee service when you send money to Turkey through us.
There is no need to take our word for it or even make your mind up just yet. You can open an online account with RationalFX for free today and view and compare our exchange rates with those of other service providers.