Jaycey

African Refugee
Transferring money from Turkey
I will be visiting Alanya shortly to collect €50K cash on a property sale.

What is the best way to transfer this to an overseas account?

Or can I declare it and bring the cash back with me?

Any advice will be much appreciated.
 
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alva5763

Bodrum buddy
Transferring money from Turkey
Re: Transferring money

If you declare şt you mat have to show a paper trail. Not saying you have done anything wrong just the rule.
We can carry 10000 GBP out of UK without declaring. I declared at UK customs once but they were not interested. You may be lucky.
 

Jaycey

African Refugee
Transferring money from Turkey
Re: Transferring money

So if the Turkish authorities accept a bill of sale for my property I should be OK? :noidea:
 

35pluschips

Member
Top Poster Of Month
Transferring money from Turkey
Re: Transferring money

Coming out of Turkey with 50k in cash? I think the authorities will have something to say about that myself. TBH Jaycey you surprise me that you would even contemplate doing it.
 

alva5763

Bodrum buddy
Transferring money from Turkey
Re: Transferring money

I believe if you can prove where the money came from you would be ok. Does the bill of sale show sale/purchase in lira?
 

esb1841

Member
Transferring money from Turkey
Re: Transferring money

UPDATE 2-Turkey rolls back some restrictions on foreign currency use

Under the new regulations published in the government’s Official Gazette on Friday, foreign residents will be able to make real estate contracts in foreign currencies. Foreign currencies will also be allowed for rental agreements for tourist accommodation facilities and in duty-free zone stores.

https://www.reuters.com/article/tur...ictions-on-foreign-currency-use-idUSL8N1XR0E1
 

Jaycey

African Refugee
Transferring money from Turkey
Re: Transferring money

Coming out of Turkey with 50k in cash? I think the authorities will have something to say about that myself. TBH Jaycey you surprise me that you would even contemplate doing it.

I wouldn’t contemplate without declaring & getting approval.


I believe if you can prove where the money came from you would be ok. Does the bill of sale show sale/purchase in lira?

Sale is in Euro (cash) through family funding.
 

Sha Hoorsur

Member
Transferring money from Turkey
Re: Transferring money

There should be a number on on your bank statements called an IBAN number. You can use this number to transfer money from one account to another. Just go to your Turkish bank and transfer the money to your other account using the relevant IBAN numbers. That is how we transfered our funds from our house sale in Turkey back to our UK account.
 

enoch

Member
Transferring money from Turkey
Re: Transferring money

I will be visiting Alanya shortly to collect €50K cash on a property sale.

What is the best way to transfer this to an overseas account?

Or can I declare it and bring the cash back with me?

Any advice will be much appreciated.

Transfer it bank to bank.
 

Jaycey

African Refugee
Transferring money from Turkey
Re: Transferring money

That makes sense. I’ll deposit the cash in my Turkish Euro account & open another Euro account here to receive it.

Thanks for the advice - problem yok! :roundgrin
 

IbrahimAbi

Grey wisdom
Transferring money from Turkey
Re: Transferring money

You may have to move it over several days due to daily limits, but that is not a real issue.
 

Jaycey

African Refugee
Transferring money from Turkey
If the bank sends there could some hefty charges :noidea:

Spoke to Garanti earlier and they were pleading for me to leave money in a Euro deposit account (@ 0.01% interest!).

Other problems include the dumb Help Desk freezing my account, my debit card expiring next year and being advised that I have to visit the bank every time there is a hiccup.
I’ve had a good run with Garanti over the years, my Personal Manager is great, but I blow a gasket every time I’m told that bank rules override common sense.:angry:
 
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enoch

Member
Transferring money from Turkey
If the bank sends there could some hefty charges :noidea:

Spoke to Garanti earlier and they were pleading for me to leave money in a Euro deposit account (@ 0.01% interest!).

Other problems include the dumb Help Desk freezing my account, my debit card expiring next year and being advised that I have to visit the bank every time there is a hiccup.
I’ve had a good run with Garanti over the years, my Personal Manager is great, but I blow a gasket every time I’m told that bank rules override common sense.:angry:
If there is a problem you can leave the money in my account and I will send you it in dribs and drabs. No commission.
 

Jaycey

African Refugee
Transferring money from Turkey
You will go straight to heaven Enoch, but hopefully not too soon..

BTW if there are any other members in Oba that fancy a coffee meet up in a week or two please let me know (and disregard all the nasty things that Bickern says about me! :))
 

oldfogy

Just passing through
Transferring money from Turkey
Just make sure you check the transfer charges for sending AND also for receiving. A HSBC account would not have any charges.
 

A89

Member
Transferring money from Turkey
Is ıt not possible to use Transferwise? I got loads more euros when I used that to send 34k euros to UK in December than I would have done sending it directly from bank to bank.


alison
 

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