Transferring money from Turkey to UK

[Aisha99]

Would be great to hear from anyone who has had experience transferrring money from a Turkish YTL or GBP account back to the UK ?

There is an option on the Turkish HSBC website but it is limited to 2000 YTL due to money laundering restrictions and I need to transfer more than that, and dont want to do multiple transactions as the fees will be exorbitant.

Can it be done from the UK or do I have to be in Turkey to perform this transaction ?

If I have to do it from the branch in Turkey, as I suspect, is it as simple as it is a swift transfer the other way from the UK ? and will it take roughly the same time, three or four days ?

Is there any other documentation I may need other than the obvious ?

 

[Karyn UK]

I've never had a problem transferring funds Turkey to UK but I am doing HSBC to HSBC and there is a daily limit for online transactions. Its always been free for me to transfer to the UK and £15 to transfer into Turkey. I've never tried to transfer from a lira account though, I always use my Turkish sterling account.

I would imagine if you went into the branch with id to arrange the transfer and could authorise it in person and say what the source of funds were i.e. house sale, savings return etc then there should be no limit on a single transaction.

K

 

[Mushtaq]

There is a limit for online transactions but you can arrange transfer in branch without any limits.

 

[Wardentree]

What is the limit for internet transfers from HSBC ?

Martin

 

[Mushtaq]

What is the limit for internet transfers from HSBC ?

Martin

I thought it was 20000 Lira, but from 1st post it might now be 2000 Lira, I know a lot of banks (governments) have made things difficult when moving money between countries and even accounts.

 

[Dalaman Deli]

I am having a bit of a nightmare trying to send money to the UK at the moment. We have sold a property here and need to transfer the funds. The seller is a UK resident, the buyer Turkish. Decided to use a currency broker as we need to exchange Lira to Sterling, so rates should be better than the bank, but to set up an account, we are having to jump through so many hoops because of the money laundering regs. All our info (bank statements, utility bills, address!) is in Turkish but the broker seems to be having trouble getting it translated. We are now having to get everything translated over here first, meanwhile the poor seller is still waiting....

 

[Aisha99]

In case anyone is interested the text from the HSBC website is as follows :


In accordance with Law No.5549 on Prevention of Laundering Proceeds of Crime, since identification is required for money transfers made on behalf of others exceeding TL 2,000, these money transfers should be performed through our branches.
For money transfer transactions causing money outflow, you will be asked to enter "One Time Password" which would be sent to your registered mobile phone. Transactions made to pre-defined payees are excluded.

Minimum Amount : 50,00 USD [fifty]


So looks like 2000 is the maximum.

Am still interested if there are any pitfalls anyone may know of as I will be there in the summer and this will be the only chance to move this money and I dont want to spend my whole summer chasing this as well as the tapu thing !