Author Topic: Money Transfer Back to UK  (Read 6706 times)

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Offline corbindallas

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Money Transfer Back to UK
« on: June 16, 2017, 08:39:32 AM »
I need to transfer money from my Turkish Bank Account back to UK. Just wondering what peoples experience is when doing this and best way forward. I assume it is best to FX it in Turkey as exchange rates are better than UK so transfer Sterling back and use SWIFT or is there a better way? Also anyone can give a timeframe of how quick the process is and charges? Transferring to LLoyds Bank in UK they state online they charge £7 for receiving international payments into your account. Thanks

Offline thebillet

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Re: Money Transfer Back to UK
« Reply #1 on: June 16, 2017, 13:53:02 PM »
I did it from Garanti to Halifax. There were no charges levied by Halifax. As for Garanti they charged a fee; they said no daily limit on transfers, not correct there is 30000 TRY daily limit, if I recall correctly, therefore you will pay commission charges each time you send money if you have over 30000 TRY to send. We were closing our account as well as sending money back so had to write out our instructions and sign them. As for time I sent money on consecutive days and had to wait approximately 3-4 business days before cash appeared in UK account. I did everything on line except the account closure. I was a bit miffed at the daily limit and the repeat charges but in the end just grinned and beared(?) it. HTH

Offline Ian

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Re: Money Transfer Back to UK
« Reply #2 on: June 17, 2017, 09:12:43 AM »
In October I did 4 online transfers of approximately £20,000 per day over 4 days - due to daily limits - from TEB to Santander at £15 per transaction - no UK fees.
Found that to be by far the cheapest way  :angel:

Offline Karennina

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Re: Money Transfer Back to UK
« Reply #3 on: June 17, 2017, 10:08:59 AM »
I am thinking of transferring some money the opposite way round UK to Turkish account does anyone know would the no fees uk bank apply re the money arriving to Finas and would Finas charge me? Thanks in advance   :)

Offline chris35

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Re: Money Transfer Back to UK
« Reply #4 on: June 17, 2017, 11:05:22 AM »
Check out Transferwise. I have used them several times and have been more than happy with the very low charges.

Offline corbindallas

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Re: Money Transfer Back to UK
« Reply #5 on: June 19, 2017, 08:14:51 AM »
Thanks for your responses, I have further checked with the bank (Garanti) now and apparently a SWIFT money transfer from them has a 275,000TL daily cap and 75TL charge per transaction.

Offline thebillet

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Re: Money Transfer Back to UK
« Reply #6 on: June 19, 2017, 13:02:42 PM »
275000 daily limit? Wow that is some change; I could have saved a stack when sending my cash back at those limits and speeding things up quite considerably as well.

Offline Crabbit

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Re: Money Transfer Back to UK
« Reply #7 on: June 19, 2017, 13:33:16 PM »
Check out Transferwise. I have used them several times and have been more than happy with the very low charges.

I use transferwise a lot.... Great service and very low charges .....  https://transferwise.com/u/davidk354

Offline Hellzbellz

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Re: Money Transfer Back to UK
« Reply #8 on: July 14, 2017, 21:17:42 PM »
Has anyone transferred Lira from HSBC to HSBC in UK as sterling? I have just tried to do with EFT but it would not let me enter my UK Iban account number, only had a turkish prefix which couldnt be changed. I then tried SWIFT and it said not enough funds so can SWIFT only be from a sterling account in Turkey to a sterling account in UK? Does this mean I have to go into the bank and ask them to transfer the Lira into sterling and put into my sterling account before I can then transfer to UK?

Offline KKOB

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Re: Money Transfer Back to UK
« Reply #9 on: July 14, 2017, 22:17:18 PM »
You have to remember that HSBC in Turkey is a franchise of the HSBC brand and isn't directly linked to HSBC in the UK. That may be causing a problem. It could also be because they've announced that they're pulling the plug on the Turkish operation.

I've never had a problem with SWIFT transfers to or from Turkey in the past but they have mostly been through Nationwide and Sekerbank accounts.

It could well be the case that you'll have to go to the branch.




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