Sending Money to Turkey

Sending Lira to Turkish bank accounts via a 'Swift' transfer usually takes no more than 24 hours from the UK.

To make a transfer to a Turkish bank, you will need the following information;

• IBAN (International Bank Account Number)
• BIC (Bank Identifier Code) or SWIFT code
• Name of Beneficiary (and address if you have it)
• Name of Turkish Bank (and address if you have it)

The IBAN includes various codes, like your branch and account numbers, and is the standard system for sending Lira payments across Europe.

Turkish IBANS have 26 characters, starting with 'TR' followed by 24 characters, and can usually be found on your bank statement or other paperwork, along with your BIC or SWIFT code. The IBAN should mirror the following format;

Turkish IBAN Format: TRkk BBBB BRCC CCCC CCCC CCCC CC

B = Bank Code
R = Reserved for future use (currently set to zero)
C = Account No.
k = Check Digits

The BIC (Bank Identifier Code) or SWIFT code are made up of 8 or 11 characters and should mirror the following format;

Turkish BIC or SWIFT code Format: BBBBCCLL or BBBBCCLLDDD

B = Bank Code (Only Letters)
C = Country Code 'TR' (Only Letters)
L = Location Code (Letters & Digits)
D = Branch Code Optional ('XXX' for Head Office - Letters & Digits)

Turkish Bank Charges

Turkish Bank charges for incoming international transfers range from zero to around 50 TRY, depending on the receiving and routing banks. Currency Index Ltd has no control of these charges.

To access our live Lira exchange rates, you will need to open an account, for which there is no cost or obligation. Our friendly, experienced staff will guide you through every step of the process, with one point of contact from start to finish.

Our exchange rates are based on the interbank level – the mid-market price at which banks buy and sell from each other. Currency Index Ltd will offer currency rates for your money transfer based on this rate, along with the volume you are trading, and prevailing market conditions.