Highest remittance rate for converting 1 USD to TRY = 8.2
sending money from USA to Turkey is the simplest process but not to everyone especially first-timers. The process involves a lot of research especially if you want to find the best way to send money from USA to Turkey. At ERIQ, we help money sender to find the most suitable option by analyzing and comparing some of the most reliable international money transfer services that can help them complete their transfer without any complications.
Many people are stuck between options when it comes to sending money from USA to Turkey because of the many available and confusing options. Thanks to Exchange Rate IQ however, you can quickly select a suitable money transfer service and learn how services like XE Money can make life easier for you.
If you have to take a headcount of Turkish nationals who reside in the United States then you will understand why there is a need for a stable money transfer service to Turkey. With the migrants faced with the responsibility of sending money back home to loved ones on a regular basis. Nevertheless, most Turkish migrants in the US are likely to invest back home by purchasing property or other items directly from the United States. Another factor that contributes to the need of a reliable international money transfer service from US to Turkey is the high number of online freelancers in Turkey that have been outsourced by American employers.
Money transfer from the USA to Turkey is something that started a long time ago even before technology was discovered. However, there is new money transfer solution today that can help you send money from USA to Turkey cheaply and they include the following transfer methods:
Bank transfer: Maybe not the cheapest option but you have to understand that ‘cheap’ is relative when it comes to international money transfer. When using bank transfer to send money from US to Turkey, you will enjoy excellent security and if you are lucky enough to find a bank that is available in both countries, then you can enjoy a fast transfer as well. Bank transfers are ideal for legal transactions that involve the purchase of property and property alike. Usually, it takes between three to five days to complete the transfer. You will also want to take note of the provided exchange rates when using bank transfer. That is because the rates affect the total amount that you will spend during your transfer. The higher the exchange rate, the lesser you will spend and vice-versa.
Cash delivery: there are so many money transfer agents that offer this service but, you need to be careful to ensure that you select one that is in the US and Turkey. It is safe to say that cash delivery services are one of the fastest ways to send money from USA to Turkey. You will have to confirm the cost of the service here since it is relatively high compared to online cash transfer services. With the impact of technology in the international money transfer industry, cash delivery services are today making their services accessible through digital devices. Western Union, for example, has already set up the Western Union App that allows you to initiate your transfer using your phone or computer. MoneyGram is an alternative that you can consider for transfer.
Online cash transfer: this is the people’s favorite money transfer option because it is cheap and, services like XE Money even allow you to send money to Turkey from US for free. One big mistake that most people do is rushing into using these money apps without finding out more about them. Because there are so many online money transfer options, it is good to know that not all services available in the US are in Turkey therefore, you need to identify one that is in both countries so that you can avoid many problems. Also, know that there are some con artists who are good at posing like genuine cash transfer companies only to end up robbing the unsuspecting public. You can however avoid all this trouble with the help of our resources. According to users, some of the most used online money transfer services to send money from US to Turkey include; Remitly, TransferWise, Ria, and XE Money.
In as much as there are reliable methods to send money from US to turkey, many people still fail because they don’t look at the following things:
Cost of transfer: perhaps your transfer is not going through because you have less money in your account than what is required for the transfer. Always check and confirm the cost of service to avoid not transferring your money or sending less than expected.
Exchange rates: the exchange rate market provides you with the value of the money you need to send after conversion. The sad thing is that some international money transfer services are too slow to update their rates that you can end up spending much more or less without knowing it.
Availability of service: this refers to the service availability in both the US and Turkey. If you send money from US to Turkey using Venmo for example, you will not succeed because the service is only available in the United States.
Transfer time: although many money transfer agents will help you to track your money, they will not notify you if the money is delayed. By knowing the average time of your transfer, you can know if there is a problem and when to contact customer support.