Cheapest way to send money from the eurozone to Turkey

FXMetrics editorial team · Updated · How we calculate

Euro senders in France, Spain, Italy, Germany and elsewhere can choose between banks, licensed money transfer operators and apps, and the exchange rate offered varies more than the headline fee. Below: what your recipient actually gets for 500 EUR, at today's mid-market rate.

Loading today's mid-market rate…

ProviderRecipient getsTotal costSpeedSite

Mid-market rates from the European Central Bank (via the Frankfurter API); currencies the ECB does not cover use ExchangeRate-API. Provider fees and markups are estimates from public pricing; always check the final quote. Methodology · Share this result

Payout options
Bank accounts (IBAN)
Typical speed
Minutes to 2 business days (digital); 2–5 business days (bank wire)
Regulation in the eurozone
PSD2, authorised in a member state
Rate benchmark
ECB reference rate

Who sends money from the eurozone to Turkey

Common senders: long-settled diaspora families, seasonal and care workers, students, and people supporting parents back home.

About this corridor

Germany is home to the largest Turkish community outside Turkey, followed by France, the Netherlands and Austria. With the lira losing value over time, recipients often prefer to receive lira and spend it, while some keep euro accounts; check which one your family uses before choosing a provider.

Worked example: sending 500 EUR

Using the ECB reference rate on 2026-10-07, 1 EUR = 54.9822 TRY, our estimate model gives these results for sending 500 EUR:

ProviderEst. feeEst. receivedTotal cost vs mid-market
Wise3.89 EUR27,276.96 TRY214.14 TRY
Revolut1.50 EUR27,271.58 TRY219.52 TRY
Remitly0.00 EUR27,161.21 TRY329.89 TRY
Western Union4.47 EUR26,700.24 TRY790.86 TRY
Bank wire (typical)17.89 EUR25,844.57 TRY1,646.53 TRY

In this example Wise delivers roughly 1,432.39 TRY more than a typical bank wire. Rates move daily and providers change pricing, so treat this as an illustration from our model; the live calculator above and the provider's own quote are what count. See how we estimate.

Sending to Turkey: what to know

  • Payout options: bank accounts (IBAN).
  • Bank deposit by IBAN is the standard method, and domestic FAST payments move funds quickly once they arrive.
  • The lira has lost a lot of value in recent years, so the rate on the day you send matters.

Rules and limits

In the eurozone: EU payment institutions are regulated under PSD2 and must be authorised in a member state. SEPA makes transfers inside Europe cheap, but payments to China go via SWIFT or a provider's local payout network.

In Turkey: Banks and payment institutions in Turkey are supervised by the BDDK and the Central Bank of the Republic of Türkiye.

How to pick the cheapest option

  1. Compare the amount received, not the fee. "Zero fee" offers usually hide their cost in the rate. How markups work.
  2. Small amounts: watch fixed fees. Large amounts: watch the markup.
  3. Avoid intermediary deductions. SWIFT wires can lose $10–30 in transit. Why.

Frequently asked questions

What is the cheapest way to send money from the eurozone to Turkey?

It depends on the amount and the day's pricing. This page calculates, at today's mid-market rate, how much TRY each provider delivers for 500 EUR; the top row is currently the cheapest by our estimate.

How much more does a bank wire cost for 500 EUR?

Using the reference rate on 2026-10-07, our model puts the gap at about 1,432.39 TRY versus the cheapest option. Rates and pricing change daily.

How can my recipient in Turkey receive the money?

Common payout options are bank accounts (IBAN). Availability differs by provider, so check before you send.

How long does it take?

Digital services usually take minutes to 1–2 business days; bank wires often take 2–5 business days.

Sources

Official pages checked on