Turkey has long attracted people from all around the world with its captivating architecture, welcoming culture, and exotic foods. Once you combine that with people who study and do business in Turkey, you can see why the number of international money transfers to Turkey has been rising.
While some use a wire service to send money to Turkey, many are unwilling to pay such a steep cost for a single transfer. Therefore, online remittance providers have risen in popularity because they charge far less on fees and take less time to deliver the funds. If you’re looking for an online provider, check out our top five picks in this article.
Remitly has garnered a good deal of popularity by supporting a wide range of countries, making it a suitable choice for sending money to Turkey. Plus, Remitly’s easy-to-use platform makes it simple for regular and one-time users to make transfers like a piece of cake.
However, Remitly doesn’t offer much transparency regarding fees or the GBP to Turkish Lira. Why? Because more than 30% of Remitly’s costs are hidden in the exchange rate markups. Moreover, the outdated website structure makes the sign-up process harder than it should be.
In the last decade or so, Azimo has successfully established itself as a reliable brand. Azimo customers can access +200,000 pick-up locations/methods and enjoy flexible payment. In addition, the user-friendly interface makes it very easy to sign up and make the transfer.
A significant downside for Azimo customers is that they can only send money to a handful of countries, which is a negative for an international remittance provider. Plus, customers regularly complain about Azimo’s lack of support, only aggravated by unreasonable GBP to Turkish Lira rates.
Many consider WorldRemit to be an affordable and reliable remittance provider. Besides supporting various pay-in/pay-out methods, the WorldRemit interface is compatible with Android and iOS smartphones/tablets.
While WorldRemit does ensure transparency regarding its fees, the GBP to Turkish Lira is less than ideal. Another downside is that customers cannot get a free quote unless they’re signed up. In addition, the unsatisfactory customer support and the “maximum transfer limit” make it not so optimal for businesses who want to send money to Turkey.
Unlike Remitly, TransferGo’s sign-up process is easy and without any major hindrances. Customers can use TransferGo’s services in nine different languages and send money to more than 40 countries. In most cases, your money will arrive in Turkey within three business days.
TransferGo does offer unique benefits (like same-day delivery), but it’s only limited to certain currencies (not the GBP to Turkish Lira), transfer methods, and volumes. Many individuals and businesses complain that once their transfer goes beyond a limit, the exchange rate drops significantly.
Out of all the names on the list, Lycaremit is the only one with an established customer base in Turkey. Lycaremit’s ultra-competitive fees and transparent margins have made it an attractive option for the GBP to Turkish Lira exchange.
Lycaremit customers can send money to Turkey and have it delivered within 48 hours. A major upside to Lycaremit is 24/7 customer support access helping them address any potential delays. Thanks to the RSA 256-bit encryption technology, all Lycaremit transactions are fully secured and protected.
Not many companies can guarantee a quality transfer to Turkey, especially since many don’t have the infrastructure or flexibility to support such a transaction. Some lack coverage and support, while others aren’t transparent or affordable regarding rates and fees.
The wiser decision is to go for a well-balanced service that charges transparent, competitive fees, offers sufficient support and security during the transfer, and provides a sensible GBP to Turkish Lira exchange rate. You don’t need to look very far because Lycaremit offers all of these benefits and more. So, if you’re interested in an effortless money transfer to Turkey, don’t hesitate and register.