What are the easiest and cheapest ways to send money from the UK to Turkey?

Who and where does this apply to?

This post is general information for people sending money from the UK to Turkey. The same logic applies when sending from Turkey to the UK. It is not financial advice about your own situation. Prices and rates change every day, so we do not present any method as "the cheapest".

Common methods

1. Bank transfer (SWIFT)

• You need the recipient's IBAN and the bank's SWIFT/BIC code. Your bank applies its own exchange rate and fee.
• Banks in between may also take a fee. According to Wise's page, correspondent banks in a SWIFT transfer can deduct their own handling fees.
• For large amounts, or if you have a long relationship with your bank, you can ask whether the rate or fee can be improved.

2. Wise (digital account and transfer service)

• Wise is authorised by the FCA as an electronic money institution (firm reference 900507, according to Wise's page).
• According to Wise's page it uses the mid-market rate and shows the fee up front.
• Turkish lira is paid from Wise's local bank account in Turkey to the recipient's bank account. The recipient does not need a Wise account; their IBAN is enough.
• How you pay changes the cost a lot. In Wise's example for sending £1,000 (October 2026): about £4.96 from a Wise balance, £5.14 by bank transfer, £17.46 by credit card and £56.65 by debit card. These figures are an example and change. Check the total shown on screen when you send.
• The page says it cannot guarantee the rate in volatile periods.

3. Revolut and similar digital accounts

• These accounts send from an app and show the fee and rate up front. For Revolut the fee depends on your plan and is shown in the app.
• In general, such accounts may add an exchange margin on weekends when markets are closed. According to Revolut's help pages this depends on the plan. Check the current condition for your own plan in the app.
• Before sending, look at the "what will the recipient get?" amount shown in the app.

4. HSBC Premier and Global Transfers

• According to HSBC UK's page, Premier and Advance customers who hold accounts in more than one country can make free Global Transfers between those accounts. The page gives a daily limit of USD 200,000 and says transfers are usually instant in most currencies, and up to 5 working days in some countries.
• Conditions: a UK current account, at least one HSBC account in another country, and online banking registered in each country.
• This is for sending between your own accounts. The page does not say it works for paying someone else's account.
• The page does not list the eligible countries. Ask HSBC whether you can hold an account in Turkey and whether Turkey is covered.

5. Cash pickup and branch services

• Some firms let the recipient collect cash at a branch. Speed and cost depend on the firm. The recipient may need to show ID.

How to find the real cost

• The cost comes from two places: the fee and the exchange rate margin. On a transfer marked "free", the rate may be worse than the market rate.
• The most reliable comparison: for the same amount on the same day, look at "how many lira will the recipient get?" everywhere, and compare the final amount.
• Always choose the payment method (bank transfer or card) when you compare: the difference can be large even within one service.
• The recipient's bank may take a charge on the incoming money. Ask the recipient's bank.

Points to watch

• The FCA says a firm's registered name can differ from its brand name. Check the firm on the FCA Firm Checker using its reference number and contact details. Type the address yourself rather than following a link in an email or on a website.
• According to the FCA, some small payment institutions do not have to keep customer money in a separate account. You can ask the firm how it protects your money.
• According to the FCA, pressure to act quickly, unexpected contact or an offer that looks too good to be true can be signs of a scam. Never share your banking passwords with anyone.
• Someone who offers to pass money through your account for someone else may be using you as a "money mule". That is a crime.

What can you do?

1. Before sending, get "what will the recipient receive?" for the same amount from your bank, Wise and any other digital account you use. Choose the same payment method each time.
2. If you have an HSBC Premier account, ask whether you can hold an HSBC account in Turkey and whether Global Transfers covers Turkey.
3. Check the firm you choose on the FCA Firm Checker.
4. Make sure the recipient's IBAN and full name are correct. A mistaken transfer can be hard to get back.
5. Questions to ask the firm or bank: What is the total fee? Which exchange rate applies? When does the money arrive? Will the recipient be charged? Is there a sending limit?
6. Ask the recipient's bank how incoming money is handled and which documents it may ask for.