Turkey has one of the world’s largest diaspora populations, and sending lira home — or funding a holiday home, family, or business — is cheap and fast in 2026 if you pick the right service. With the lira’s recent volatility, the exchange rate matters more than ever. Here is how to get the best deal.
For bank transfers, Wise is usually cheapest — real mid-market rate, low fee, and the cheapest tested for larger sums. Remitly is strong for cash pickup, mobile wallets, and no-fee first-transfer promotions, with a choice of Express or Economy. For pure cash pickup, Western Union and MoneyGram deliver in minutes. Fund from a bank account or card to stay exempt from the new 1% US remittance tax.
Turkey’s currency: the lira (TRY)
Turkey uses the Turkish lira, written TL and coded TRY. The lira has been notably volatile in recent years, losing value against the dollar and euro through repeated bouts of high inflation. For senders that has one clear implication: the exchange rate is the biggest variable, often bigger than any fee. A provider that marks the rate up even a couple of percent can cost your recipient far more than the visible fee suggests. Always benchmark against the mid-market rate on our live USD to TRY converter.
Best options for sending money to Turkey
| Provider | Best for | Notes |
|---|---|---|
| Wise | Bank transfers & larger sums | Real mid-market rate, no markup; cheapest tested for large transfers; can arrive in seconds |
| Remitly | Cash pickup, wallets, promos | No-fee first transfers; Express (minutes) or Economy (better rate); bank, cash and wallet delivery |
| Western Union / MoneyGram | Cash pickup | Fast, near-instant pickup across Turkey; watch the rate markup |
| Revolut / Xe | Alternatives | Revolut good for transparent bank payouts; Xe for cash pickup and promos |
Why the rate matters most for Turkey
On a stable currency, the fee and the rate markup are roughly comparable costs. With the lira, the rate can swing meaningfully even within a day, and providers that bury a margin in the rate profit most from that volatility. The defence is simple but essential: never judge a transfer by its advertised fee. Look only at the number of lira your recipient will actually receive, and compare that figure across two or three providers. A mid-market service like Wise removes the hidden markup entirely, which is why it wins most bank-to-bank comparisons here.
Bank deposit vs cash pickup
If your recipient has a Turkish bank account, a deposit is usually the cheapest route and Wise is the default winner. If they need physical cash, Western Union and MoneyGram have vast agent networks with pickup in minutes, and Remitly offers cash pickup plus mobile-wallet options. Remitly’s Economy setting trades a little speed for a better rate — a good pick when the money is not urgent.
The 1% US remittance tax
Since January 1, 2026, a 1% US federal excise tax applies to outbound remittances funded with cash or a money order. Transfers funded from a US bank account or with a debit or credit card are exempt. Sending online from your bank gets the best rate and avoids this tax entirely.
How to get the best deal
Because the lira moves, timing and provider choice both matter. Compare on the lira received, use a mid-market service like Wise to avoid a hidden markup, and match the delivery method to your recipient’s needs. Fund electronically, and grab Remitly’s no-fee first-transfer offer if this is your opening send.
Check today’s USD to TRY rate
The lira rate can move fast. See the real mid-market USD to TRY rate before you send so you can judge each provider’s markup.