Last updated on December 30th, 2023 at 10:59 pm
If you’ve moved away from Turkey to start a new life and career elsewhere, you’re part of a sprawling diaspora. As data from the Turkish Ministry of Foreign Affairs reveals, there are over 6.5 million people[cm_simple_footnote id=1] from Turkey currently living in various nations over the globe, with a huge percentage choosing to live and work in Western Europe. Migrants who send money to Türkiye İş Bankası—Turkey’s national bank—don’t just help their loved ones, they also contribute to the country’s economy.
However, unfair exchange rates and inflated transfer fees can make sending money to Turkey a pricey process. Thanks to the Remitly website and app, you can arrange for your recipient to pick up Turkish lira in cash at a selected spot in Turkey, or simply receive funds into their Türkiye İş Bankası account. Read on to find out how.
Send money to Türkiye İş Bankası in 5 steps
Follow these steps to send lira (TRY)—Turkish currency—to Türkiye İş Bankası, also known as İşbank:
- For first-time users, download the Remitly app and create a profile. Then, select Turkey as your destination country.
- Enter the amount you want to send.
- Choose Bank Deposit as your delivery method and Türkiye İş Bankası as your location.
- Enter your recipient’s IBAN number.
- Enter your payment details.
Double-check the details to ensure they’re correct and that all the digits of the IBAN are in the right place. You can then make the TRY transaction happen through Remitly knowing that you’re in safe hands.
For extra transparency, select the SMS update option so your recipient knows the transfer’s progress.
Reasons to use Remitly to send money to Türkiye İş Bankası
Sending money to Turkey is a fact of life for many people who’ve moved abroad. Not only do you get an easy-to-understand fee structure with Remitly, but we also pride ourselves on providing our millions of members with great exchange rates. You’re also in control at all times, which means that canceling a transfer before it’s successfully completed means you’ll have your money sent back to you.
Related reading: How to Send Money Safely to Ziraat Bankası in Turkey in 5 Easy Steps
How quickly will my money arrive at Türkiye İş Bankası?
Whether you’re in a hurry to transfer funds to a friend or family member or time isn’t really of the essence, you can choose your preferred transfer speed when sending money to Turkey with Remitly. While the exact transaction time differs depending on your selected speed and your payment method, it typically takes around 24 hours to transfer Turkish lira to a Türkiye İş Bankası account.
How much money can I send to Türkiye İş Bankası with Remitly?
It’s Remitly’s mission to help our members send money quickly, whether the amounts are large or small. We never compromise on safety, however.
To protect against fraud, and to meet international regulations, we have sending limits in place to safeguard your assets. By providing us with the minimum verification information, you can send up to these maximum limits:
- US$2,999/€5,000/AUD$2,999/£5,000 within 24 hours
- US$10,000/€15,000/AUD$10,000/£15,000 within 30 days
- US$18,000/€50,000/AUD$18,000/£50,000 within 180 days
If you need to send more TRY back home, provide us with more identification and we can enhance your maximum transfer limits.
Is it safe to send money to Türkiye İş Bankası with Remitly?
Yes. As you’d rightly expect from a remittance service, Remitly has online safety right up at the top of our list of priorities. This is why we have an in-house team of security experts who ensure we keep up to date with the required measures.
Bank-standard data encryption keeps your details and your money safe. Our system tracks the process of sending money to Turkey with SMS/text notifications, keeping you informed of every step. In the unlikely event of an error preventing your transfer from successful completion, you can request a refund.
Discover more here about how Remitly maintains strict security standards.
More about Türkiye İş Bankası
The history of Türkiye İş Bankası coincides with that of the nation. It was founded in 1924, shortly after the birth of the Republic of Turkey. In the words of Turkey’s founding father, Kemal Ataturk, the formation of the bank was necessary to help “liberate and augment the nation.”
Since then, İşbank has been at the forefront of innovation in financial services. In the 1930s, it became the first Turkish bank to set up branches abroad, and in 1982 it established the first ATM machines in Turkey.
In the 1990s, it continued to innovate by introducing telephone and internet banking in the country. With well over 1,350 branches in Turkey today, it continues to play an integral role in millions of Turkish people’s lives.