How Can I Send Money to Turkey for Less?
If you’ve moved to the UK from Turkey and sent money online, you were probably in for an unpleasant surprise. All immigrants notice sooner or later that excessive amounts of the funds they send home get swallowed up in the transfer process.
You wouldn’t be the first to wonder how you might send money to Turkey from the UK for less and thereby preserve more of the funds your family and friends receive back home.
In this article, we’ll look at what is happening with exchange rates and how you can get a better deal.
Why Are Bank Exchange Rates So Expensive?
The short answer is that banks up their exchange rates to earn more profits on your transactions.
Banks can purchase currencies at the interbank exchange rates on the open market. However, private individuals don’t have access to the same prices, so they are forced to exchange currencies at the rates of intermediaries, such as banks or travel agencies. To make a profit, banks use different rates for buying and selling, which places the transfer rates somewhere in the middle. On top of this, a bank will add a commission to the transaction and sometimes charge a flat transfer fee.
As a result, if you changed the money into another currency using a bank and then changed it back, you might find as much as 13% missing.
There’s a Better Way - Introducing TangoPay
Online money transfer services like TangoPay can offer a cheaper and quicker alternative to traditional bank transfers. For example, sending money to Turkey from the UK is more manageable this way.
Our prices are closer to actual exchange rates than traditional banks. We use real-time exchange rates rather than the fixed rates banks offer, so you can benefit from suitable timing. Our rates are always set in advance, so you know what you’ll pay. And when you sign up, you won’t pay any transfer fees for the first three months!
TangoPay is regulated by the Financial Conduct Authority. Our app uses anti-fraud and encryption technology to protect your transfers.
Quick and Easy
Money transfers from the UK occur simply and easily via our mobile app. Setting up an account only takes a few minutes, and you can easily set up one-time or recurring transfers from there. The app is available 24/7 and frequently sends money quicker than traditional banks.
Send Money to Turkey from the UK Today
Get started in just a few steps:
- Download The App
- Create an account
- Set Up Your Transfer