Send money to Turkey and pay low fees

turkey-landmarkShop around for the most affordable options when you need to send an international money transfer to Turkey from Canada.

Boasting a fascinating mix of cultures and a history dating back thousands of years, Turkey is a popular destination for many Canadian travellers. Furthermore, plenty of Canadians reside in Turkey full or part time, while over 43,000 Turkish residents live in Canada.

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.

Compare Money Transfer Services

Rates last updated February 19th, 2018
Name Product Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received Description
TorFX International Money Transfers
USD 150
1 day
Online, Phone, Agent
TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply.

Send money overseas in 45 currencies.
Exclusive: OFX (Ozforex) International Money Transfers
USD 150
1 day
Online, Phone, Agent
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.
TransferWise International Money Transfers
$5
1 - 2 days
Online
Make online transfers with transparent exchange rates, low fees and low minimum amounts.
The ‘Rate’ and ‘Amount Received’ displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

Compare up to 4 providers

Speak to an FX Expert

Enter your details to speak to a foreign exchange expert

By submitting this form, you agree to finder.com.au privacy policy
TorFX Logo

Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options. Our foreign exchange experts offer a best rate guarantee, are ASIC authorised and never charge transfer fees.

They can help you with all your needs including:

  • Buying property abroad
  • Emigrating
  • Regular overseas payments
  • Risk management
  • Forecasting

Banks versus money transfer companies

Many people head to their banks to send money overseas because they aren’t aware of the other options. Banks offer customers poor 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.

There are several more affordable options available that can also guarantee safe and secure transfers. Online money transfer companies like TransferWise and WorldRemit specialize 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 from Canada.

Case study: Mesut sends money to Turkey

When Mesut wants to send money to his brother in Istanbul, he approaches his Canadian 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 $13 in fees by using the money transfer company and can also send an extra 112.21 TRY, since they offer a better exchange rate too.

BankMoney transfer company
Exchange rate
$1 CAD = 2.8920 TRY$1 CAD = 3.0009 TRY
Tranfer Fee
$25$12
Transfer methodWire transferOnline transfer
Processing timeThree to five daysOne to three days
Amount received (in TRY)2,853.10 TRY2,965.31 TRY

How do I compare transfer companies when transferring and receiving money via Turkey?

  • Exchange rates. How do the company’s exchange rates compare to those offered by its competitors? Remember to consider transaction fees alongside the exchange rate to work out whether you will get value for money. Some companies will hide high fees inside a competitive exchange rate, so consider all of the details carefully.
  • Fees. How much will you be charged for transferring money overseas? Will you avoid the fee by transferring more than a specified fee-free threshold amount? This tends to be over the $10,000 mark.
  • Transfer methods. Can transfers only be placed online or by visiting a branch? Are there other options available, for example phone transfers?
  • Choice of options. Can you place a limit order or forward contract to get a better exchange rate? Can you set up a recurring payment plan for added convenience?
  • Turnaround time. How long will it take from the time you pay for your transfer to the moment your money arrives in your recipient’s bank account or wallet?
  • Transfer limits. Does the company impose restrictive limits on the amount you can transfer, not only per transaction, but per day, week or month?
  • Pickup options. How will your recipient access the funds you send: will they be deposited into a bank account or can they collect the cash from a transfer company branch?
  • Customer service. Does the company offer phone, email and live chat support? Is there an online help centre with a range of frequently asked questions?

How do I send money to Turkey from Canada?

  • Specialist money transfer providers. Do some research to decide which of our trusted transfer providers can send money from Canada to Turkey.
  • Cash pickup transfer companies. MoneyGram and Western Union operate extensive global transfer networks.
  • Bank transfers. Your bank can help you send money to Turkey but may not offer the most affordable option.
  • PayPal transfers. Examine the fees and exchange rates offered by PayPal’s international money transfer service.
  • International cheques. You can get an international guaranteed cheque from your bank and send it via post to Turkey.

How do I receive money from Turkey in Australia?

  • Specialist money transfer providers. Companies like OFX and TorFX offer fast and convenient international transfers.
  • Cash pickup transfer companies. Check MoneyGram’s or Western Union’s website for details of their nearest location to you.
  • Bank transfers. Your Australian bank will be able to accept transfers from Turkish bank accounts.
  • PayPal transfers. PayPal’s Australian customers can receive transfers from around the world.
  • International cheques. These are a time-consuming and costly option, but they do offer a secure transfer method.

Emergency cash transfers in Turkey

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.

Cash pickup locations in Turkey/ Western Union / MoneyGram branches in Turkey

Both 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:

Western Union

  • Istanbul

    Aksemsettin Sube

    Telsiz Mah Seyitnizam Cad No 1 Zeytinburnu Istanbul,

    +90-212-4158340

    Open 9am to 6pm Monday to Friday

  • Atakoy 5 Kisim Istanbul

    Atakoy 5 Kisim Guney Carsisi
    No: 34 35 36 Atakoy Istanbul, Istanbul
    +90-212-5592976
    Open 9am to 5:30pm Monday to Friday

  • Ankara

    Ayas Ankara

    Cami Atik Mah Cumhuriyet Meydani No:2 C Ankara, Ankara

    +90-312-7122263

    Open 9am to 5:30pm Monday to Friday

  • ING Ulus

    Ulus Meydani 2 Ulus 06030 Ankara, 6030

    +90-312-3106200

    Open 9am to 5:30pm Monday to Friday

MoneyGram

        • Istanbul

          Bank Asya
          Kisla Cad Kurtoglu Is Merkezi 21/7
          Eyup
          Istanbul,
          02126746643
          Open 9am to 5pm Monday to Friday

        • Denizbank

          Nuruosmaniye Cad No 90 92
          Istanbul, 212
          5191165
          Open 9am to 6pm Monday to Friday

        • Ankara

          Denizbank
          Sanayi Cad. 13
          Ankara, 312
          3097929
          Open 9am to 6pm Monday to Friday

        • Denizbank

          Necatibey Cad. 11A
          Kizilay Cankaya
          Ankara, 06440
          3122301480
          Open 9am to 6pm Monday to Friday

Tips for picking up cash in Turkey

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:

                    • Only visit cash pickup branches in safe areas
                    • Ask a friend to accompany you when you collect the cash
                    • Keep your money concealed and don’t show it off in front of strangers
                    • Deposit the funds into your bank account as soon as possible
                    • Check travel blogs and forums for more handy safety tips

What are the steps to send money to Turkey?

Although transfer methods vary from one provider to the next, you will usually have to complete the following steps:

  1. Sign up for an account. You can usually sign up for a free account online by providing your full name, photo ID and contact information.
  2. Provide your transaction details. You’ll need to enter information about who you’re sending the money to and where, how much money you’re sending and in what currency.
  3. Complete your transfer. The final step is to check the exchange rate and fees that apply to your transaction and then pay for your transfer. You will also be given a tracking number to allow you to monitor the progress of your funds.
Was this content helpful to you? No  Yes

Ask an Expert

You must be logged in to post a comment.