Calis Beach and Fethiye Turkey Discussion Forum

Information and Services in Turkey Section => Banks, Interest, Money Transfers, Insurance => Topic started by: charlste on October 31, 2018, 10:41:15 AM

Title: Swift transfer
Post by: charlste on October 31, 2018, 10:41:15 AM

I did a swift transfer from my turkish bank to my uk bank.
The turkish bank charged me 75tl.
I have received £30 less into my uk bank also.
I rang my bank and they didnt charge me anything saying it is the intermediary bank that will have taken the £30.
Thats fine but how can you find out in advance what the middle bank charges?
Is it a flat rate fee or a percentage?
I have a feeling its a bit of a grey area and maybe nobody knows.

Title: Re: Swift transfer
Post by: KKOB on October 31, 2018, 10:58:34 AM

SWIFT transfers usually incur a £25 or £30 charge for any amounts from £1 upwards. Your own bank should be able to provide you with the charges.

If you're likely to be doing more transfers in future have a look at Transferwise, Starling Bank, Monzo, Revolut or XE. They all offer transfers at a lower cost than banks.

There's a huge amount of information available on Google about this.

Title: Re: Swift transfer
Post by: charlste on October 31, 2018, 11:04:55 AM

Thanks kkob.
Are you saying the fee £25-£30 will be the same for 1k or 10k?

Title: Re: Swift transfer
Post by: KKOB on October 31, 2018, 11:11:24 AM

Quote from: charlste on October 31, 2018, 11:04:55 AM

Thanks kkob.
Are you saying the fee £25-£30 will be the same for 1k or 10k?

Yes

Title: Re: Swift transfer
Post by: SteveJ on October 31, 2018, 12:09:35 PM

I used TransferWise for the first time recently to transfer £500 to Turkey. It cost me £7.50 and was easy peasy.  :)

Title: Re: Swift transfer
Post by: charlste on October 31, 2018, 16:57:25 PM

Is that the only charge you paid steve j.
You didnt pay anything to either of your banks?

Title: Re: Swift transfer
Post by: Fran on October 31, 2018, 19:42:08 PM

You pay the money to TransferWise via your debit card or Apple Pay etc they then send it to your Turkish bank. You know the exchange rate and costs in advance. I’ve never sent if from turkey to uk though.


Sent from my iPhone using Tapatalk

Title: Re: Swift transfer
Post by: charlste on October 31, 2018, 21:57:01 PM

It will only ever be turkish bank to uk bank from my GBP account.