Calis Beach and Fethiye Turkey Discussion Forum
Information and Services in Turkey Section => Banks, Interest, Money Transfers, Insurance => Topic started by: jackstee on January 22, 2019, 10:11:00 AM
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Well, being a bit of a doubter I tried it yesterday.
Initially a bit of a problem with signing on but they have a help ( chat ) facility that sorted it out quickly.
At 5 to three in the afternoon I signed on. By 3 they informed me that they had received the cash from my bank.
At 10 passed 3 I got a mail saying it would be in Turkey within 21 minutes and then one saying it was in my Bank.
Went to the bank at 4.30 and it was there.
Good exchange rate and the first transfer was free. I believe they charge 12.50 normally and the max at the moment is 10,000 GPB.
Really impressed.
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I have used transferwise for a few years now, always quick and reliable :)
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Soo we are in the dilemma of needing to pay our site fees so gardener can be paid etc.
Iv just found this thread Iv never sent any money abroad before, is this still the best company to use can anyone tell me please, I bizarrely found an email from XE in my spam folder not sure if anyone recommends them?
Of course we want to pay as little as possible in fees!
Grateful for any recommendations as always.
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I use TransferWise all the time, it’s quick and easy to use. You see the exchange rate and the fees in real time. Money usually arrives same day. Here is today’s rate
(https://uploads.tapatalk-cdn.com/20200407/a249babd9b3c3cb982136a53c5e466ef.jpg)
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I use Transferwise as my preferred method of transferring money abroad. I have not had a problem to date and have found that the ultimate exchange rate (after their fee has been deducted) is still very competitive. Very easy to set up and monies are generally received within 24 hours.
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Excellent thank you so much for replies and that screenshot is a great help thank u Fran :)
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You may also consider using Revolut...we use it for paying fees every month, plus other periodic fees or charges.
Revolut offers three ways of transferring money at BANK RATES and with NO FEES:
1. Revolut user to another Revolut user (probably not applicable here as Revolut is not accepting Turkey user applications yet);
2. Bank transfer, where you input the recipient details (IBAN/SWIFT/BIC); or
3. Payment link, where you create a money "package" with a link to send to the recipient to enter their own bank details to accept and execute the payment.[/li][/list]
I tend to use Payment Link most often (90%) and it is easy, swift, safe and still traceable. You just need to inform the recipient by email or WhatsApp to enter their own IBAN/SWIFT/BIC details to accept the payment. You'll get notifications throughout the process...as I said, safe and easy to use.
I've really only had to use Revolut Bank Transfer twice; once for someone who just really couldn't get her head around the process and the second for a furniture manufacturer whose policies and accounts department wouldn't allow it.
PM me if you want me to walk you through the process, but can highly recommend. I may also be able to refer you for a free card, but anyone with a Revolut account can do that if you ask.
Dale
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I've been looking at this for a couple of months now. Transferwise seems the best deal to transfer money from a UK bank to your Turkish account with low charges and on the day exchange rates being the attraction.
My question is, do your Turkish Bank make a charge for RECEIVING the money? I am with TEB and although their website is pretty rubbish, I did find something that said that there was a charge (but that could be a general thing if you used SWIFT)
Maybe the test for me would be to transfer a small amount initially?
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Thank you very much Dale for all the info re the Revolut card I have heard and read many good things about this account in the past, I will have a think about that as I have a Starling account which I just love :)
Ooh I didn’t think about that side of things Bubsmum as in whether the recipentant will have to pay a fee to receive the money!
If you do decide to test it out I’d be interested in knowing if there was a charge as I would have to incorporate that with my payment...
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There is no charge from Garanti bank when you use TransferWise
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So I did ( I’m hoping a successful transfer) to our gardener last week, not heard anything different so hoping it’s arrived ok!
Now my next dilemma is other owners want to pay their fees to us but I don’t want to pay the gardener too many months up front, so Im thinking of transferring from my UK account to my Turkish current account I have the sort code and account no but no access to online banking so not really anyway of knowing that the money has arrived safe, will it cost me to receive it to my Turkish account does anyone know please and also if there was a problem would it just be sent back to my U.K. account?
Thanks from anyone in the know on this!
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There is no fee from your Turkish bank to receive the money however you will need your IBAN number. The first time I tried I made a mistake and they messaged me as unable to complete transfer, I had the wrong IBAN number. I’ve got online banking so I can always check that it’s arrived.
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Brilliant thank you so much Fran I’m wondering if the IBAN number may be on my bank account book Il take a look
Thanks again :)
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Your IBAN will look something like this TR890013400001145879654785
https://www.investopedia.com/terms/i/iban.asp
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Can you pay your Gardener by card. If so you can apply for one with TransferWise convert any money you put on it into Lira, and pay him that way.
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Anybody used Transfer Wise the other way,Transferring from
Turkish Banks to UK, please.
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Ooh Fran I don’t think Il be brave enough to try that! But thank you anyway!
Thank you KKOB Iv just dug my card out and it does indeed have a long number starting with TR, the link is very helpful and Iv also learnt today what IBAN stands for, before 5 mins ago I had assumed it was a word pronounced Iban.
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The card is basically a MasterCard that you preload with the currency you want I’ve got Sterling and TL on mine. I’ve used it in Migros, restaurants etc with no problems at all. You can also use it to withdraw cash at an ATM although the amount is restricted. The rate you get on it is better and fees are cheaper.
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Do you need the Swift number as well when making an international bank transfer please and if so does the SWIFT code apply to the bank you use or an individual account as in if you held three accounts with one bank do you get issued jus5 one SWIFT number? Thanks for any info
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You just need the IBAN number to send abroad, not sure on swift numbers
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Thank you so much Fran all done ( I hope) :) ;) ;D
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Well done hope it goes well. After your first transaction everything is really quick
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