Turkey — Banking: International Transfers

Key facts

• Some Turkish banks offer international transfer services via online banking platforms or mobile apps.
• Transfer fees can be charged by both the sending and receiving banks, and the amount varies by bank and transfer type.
• Exchange rates can also affect the final amount received by the recipient, and they may vary by banking institution.

Steps

1. Initiating an International Transfer — The process typically begins by logging into the sender's online banking platform or mobile app and selecting the international transfer option.
2. Entering Transfer Details — The sender must enter the recipient's bank details, including the account number, bank name, and SWIFT/BIC code.
3. Confirming the Transfer — The sender reviews and confirms the transfer details, including the amount and exchange rate, before submitting the transfer request.

Costs

• Transfer fees: varies by bank and transfer type
• Exchange rate margins: varies by banking institution

Timelines

• Processing time: typically 1-3 business days, but may vary depending on the recipient's bank and location

Required documents

• The sender's government-issued ID
• The recipient's bank account details
• The recipient's SWIFT/BIC code

Common mistakes

• Forgetting to enter the correct SWIFT/BIC code
• Not checking the exchange rate before initiating the transfer

AI confidence note (remove before publishing)

The information provided in this document is limited due to a lack of specific knowledge about international transfers in Turkey. The facts presented are general and based on available background information, but the accuracy of the details may be uncertain. Further research is recommended for more precise information.