With the increasing number of Turkish citizens moving to the United Kingdom with the Ankara Agreement, for reasons such as language education, business, or personal reasons, money transfer has become one of the main concerns for those moving to the UK.
Relatives or families of someone who moved to the UK for education, business or other purposes might want to send them money or that person might want to transfer money to the UK.
However, banks and other financial institutions have introduced unique applications that can lead to confusion and difficulties. In this case, choosing the most reliable and easiest money transfer system is important for you. In this sense, based on our experience, we see Wise as the best method of all.
You are in the right place if you are in Turkey and want to send money to your relatives or business partners that are in the UK. Let’s start with the most advantageous and fast way, which is Wise.
Things You Must Keep in Mind When Transferring Money from Turkey to the UK
If you want to send money to the UK from Turkey, you must know that there are numerous factors to keep in mind.
Especially limits, money transfer durations, reliability, cost and ease to use are the first things you should look for.
For this reason, we will talk about different transfer methods.
Reliable Methods to Send Money to the UK from Turkey
When transferring your money, it is vital to choose a reliable method. Because it is essential to send the money in a reliable way as much as the money arrives on time as you shouldn’t have any unanswered questions while the money is being transferred.
Wise(formerly known as Transferwise) helps you in all these matters. How much commission will be charged and how long it will take the money to reach the receiver are determined beforehand.
The fact that it is inspected like a bank in the UK and its high score on TrustPilot, are other reasons for you to use Wise with peace of mind.
The disadvantage of the bank SWIFT transfer may be that it is not clear how much of a cut will be made. Although you will not have a problem with trust in the Western Union, the cuts will be higher.
Money Transfer Limit from Turkey to the UK
It is generally not desirable to have a limit when transferring money because, you might want to transfer ₺10.000 or considering the exchange rates in Turkey, sometimes ₺100.000 or even higher.
If you want to transfer money from Turkey to the UK via money transfer tools such as UPT, you must know that the limit is €10.000.
For this reason, it would be better for you to use a different transfer tool rather than UPT in order not to exceed the limits.
In this case, performing this transaction through banks or using Wise will make your job easier and you will not have any problems with the lower or upper limit.
Money Transfer Duration to the UK from Turkey
If you want to send money to the UK from Turkey, one of the most important matters to consider is the duration of the transaction to be completed. Because people generally want the international transactions to be completed as soon as possible. It is very important that this need is met quickly with no time wasted.
Is it possible to transfer money without wasting time?
Although banks and some financial institutions may say that you can have the privilege of sending money fast, but actually the “speed” can be up to 3-4 days. But what should you do if you have to complete the money transfer withing a maximum of 24 hours?
Wise will undoubtedly be the best choice for sending money to the UK on the same day or at least within 24 hours as this platform has made a name for itself by carrying out the transactions very fast. According to our experience, if you also want to complete your transaction within one business day, Wise won’t let you down.
Money Transfer Fees from Turkey to the UK
Money transfers are considered a source of income for both banks and financial institutions. For this reason, you may encounter varying fees. While banks transfer money for high fees, financial institutions demand even higher fees.
Wise aims to lower the fees on international money transfers for exactly this reason. Especially about the currency conversion. It mirrors the currency conversion you see on Google and charges a very low commission fee.
You will see how much money will be transferred to the recipient’s account before starting the money transaction to England.
How to Send Money to Other Countries from Turkey?
We tried to add informative articles on money transfers not only to England but also to other countries. You can also read our other articles before making a money transfer.
What to Do If the Recipient in England Does not Have a Wise Account?
If you want to transfer money from Turkey to the UK, you need to have a Wise account. Because to benefit from the facilities we mentioned, you can create a Wise account free of charge. But, does the recipient has to have an account?
If you are going to send the money from Turkey to the UK via Wise, the recipient don’t need to have a Wise account.
The money will be delivered to the recipient’s account just like a normal transaction.
As long as you enter the accurate recipient information, the money will be delivered to them in 24 hours.
Money Transfer Details from Turkey to England
If you want to send money from Turkey to the UK, just like we mentioned above, Wise seems to be a better option than other alternatives such as Western Union and UPT.
Our experience shows that you can complete the process in the fastest and most advantageous way with Wise.
You need to pay attention to transfer the money from TRY to GBP as well because if you try to complete the transaction directly from a foreign currency, even though Wise won’t charge any fees, you’ll complete the transaction via SWIFT, which means your bank may charge additional fees from you.