Because banks shouldn't hide your money in spreads.
We expose the real cost of every transfer — the spread, the fees, the delivery time — and rank providers by what actually lands in your recipient's account. No sponsored ordering. Ever.
Sending $1,000 to Turkey
Hover any card to see exactly what it costs you.
7-Day Exchange Rate History
vs Traditional Banks
You save up to $75
on a EUR 1,000 transfer
Wise
BEST RATEBank of America
+5% markup + $35 wire fee
Wells Fargo
+4.5% markup + $25 wire fee
Sending euros to Turkish lira is one of Europe's most volatile corridors, with bank markups of 3-5% routinely costing senders €150+ per €5,000 transfer. Digital providers like Wise, Remitly, Revolut, and WorldRemit price 3-8% better than banks. Timing matters: TRY can move 2-3% in a single week.
Our verdict: Use a digital provider with mid-market pricing and set a rate alert — on EUR/TRY, timing the transfer can save more than the fees themselves.
The EUR to TRY Corridor: A High-Volume, High-Volatility Route
The Italy-to-Turkey remittance corridor moves an estimated €1.2-1.5 billion annually, driven primarily by Turkey's diaspora in Italy (roughly 25,000 residents), Italian property buyers along the Aegean coast, freelancers paying Turkish contractors, and families supporting relatives. Average transfer sizes split into two clusters: family remittances averaging €200-500 monthly, and property or business transfers ranging €5,000-50,000. With the Turkish Lira having lost approximately 80% of its value against the EUR over the past five years, this corridor demands sharper attention to pricing than most.
Decoding the True Cost: Markup vs Flat Fees
The headline "zero fee" advertised by many banks is almost always misleading. The real cost lives in the exchange rate markup — the spread between the mid-market rate (the one you see on Google or Reuters) and the rate offered to you. Italian banks like Intesa Sanpaolo and UniCredit typically apply markups of 3-5% on EUR/TRY, which on a €5,000 transfer translates to €150-250 in hidden costs, far exceeding any €15-25 flat fee. The total cost formula is simple: (mid-market rate − offered rate) × amount + flat fee. Always calculate the all-in cost in TRY received, not the fee shown.
Why Digital Providers Win by 3-8%
Wise, Remitly, Revolut, and WorldRemit consistently deliver 3-8% more lira per euro than traditional banks. Wise charges roughly 0.45-0.65% on EUR-TRY transfers with the true mid-market rate, while Revolut offers interbank rates on weekdays (with a 1% weekend surcharge). Remitly and WorldRemit specialize in remittance corridors and frequently run promotional rates for first transfers, sometimes pricing 1-2% below even Wise on amounts under €1,000. On a €3,000 transfer, the difference between a digital provider and a bank typically lands between €90 and €240 in extra TRY for the recipient.
Speed Tiers: Instant vs Economy
Transfer speeds segment into three brackets. Instant transfers (under 60 seconds) carry a 0.5-1.5% premium and suit urgent cases — medical bills, property deposits, last-minute flights. Standard transfers settle in 1-2 business days at standard pricing. Economy transfers, where available, take 3-5 business days but can shave another 0.2-0.4% off the total cost — worth choosing for non-urgent family remittances above €2,000. The two largest receiving banks in Turkey are Ziraat Bankası and İş Bankası, and most digital providers can deliver directly to accounts at these banks within the standard window, often crediting funds the same day for SWIFT-connected institutions.
Regulatory and Macro Considerations
Standard banking regulations apply for sending from Italy to Turkey: transfers above €15,000 trigger anti-money-laundering documentation requirements under EU rules, and Turkish recipient banks may request proof of source for inflows above ₺500,000. Crucially, Turkey's high inflation environment — running at 40-65% annualized in recent years — means the Turkish Lira can depreciate rapidly, sometimes 2-3% in a single week. Timing your transfer or using forward rate tools (offered by Wise Business and Revolut Premium) to lock a rate up to 24 months ahead can make a significant difference, particularly on larger property or business transactions where a 2% adverse move equates to thousands of euros.
Practical Optimization Tactics
Three tactics consistently improve outcomes on this corridor. First, set rate alerts on Wise or XE for your target EUR/TRY level — historical data shows the pair often moves 4-7% within a 30-day window, creating clear entry points. Second, batch smaller transfers: sending €3,000 once costs roughly half what three €1,000 transfers do in absolute fee terms. Third, avoid weekends and Turkish market holidays, where spreads widen by 0.5-1% across nearly all providers. For amounts above €10,000, request a custom quote — Wise, OFX, and CurrencyFair all negotiate tighter spreads at scale, typically 15-30 basis points better than the public rate.
- Compare all-in TRY received, not advertised fees
- Use forward contracts for transfers above €5,000 when TRY is volatile
- Choose economy speed for non-urgent transfers to save 0.2-0.4%
- Confirm recipient holds an account at Ziraat Bankası or İş Bankası for fastest delivery
Frequently Asked Questions
What is the best EUR to TRY exchange rate?
Wise and Revolut typically offer the closest to the mid-market rate, with total costs of 0.45-1% versus 3-5% at Italian banks. Compare the final TRY amount received rather than the advertised fee, since exchange-rate markup is where most providers hide their margin.
How long does it take to send money from Italy to Turkey?
Instant transfers complete in under 60 seconds with a small premium, while standard transfers take 1-2 business days. Economy options at 3-5 days save another 0.2-0.4%, suitable for non-urgent family remittances.
What are the fees for sending money from Italy to Turkey?
Digital providers charge roughly 0.45-1.5% all-in, while traditional Italian banks charge 3-5% once exchange-rate markup is included. On a €3,000 transfer, the difference between the cheapest and most expensive option typically exceeds €100.
Is it safe to use online money transfer services?
Yes — Wise, Remitly, Revolut, and WorldRemit are regulated by EU authorities and Italy's Banca d'Italia, with funds held in segregated accounts. They deliver directly to major Turkish banks like Ziraat Bankası and İş Bankası through licensed banking partners.