Money transfer from UK

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Kim
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Money transfer from UK

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Post by Kim »

Just wonder if anyone can suggest what is the best, quick and the cheapest way to transfer GBP from UK to TRNC as GBP? Thanks in advance for any info.

sparky1999
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Re: Money transfer from UK

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Post by sparky1999 »

Transferwise.com charge around 1%

Sultan
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Re: Money transfer from UK

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Post by Sultan »

I just transferred some sterling to a friend using Turkbankasi from my bank account in UK. No charges or fees.

Kim
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Re: Money transfer from UK

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Post by Kim »

Thanks for the advice. Just wonder how long does it take for TransferWise or Turbankasi UK Bank?

Kim
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Re: Money transfer from UK

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Post by Kim »

Hi Sultan, I want to receive GBP in TRNC. Can Turkbankasi from UK bank do transfer GBP to GBP in TRNC? Please advise. Thanks.

Sultan
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Re: Money transfer from UK

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Post by Sultan »

I believe so. As I said I have just transferred sterling from my UK bank to a friend with Turk bankasi in sterling online. He has a sterling account with Turkbankasi. They have branches in London so it may go via them? No fees .

Sultan
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Re: Money transfer from UK TV

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Post by Sultan »

Not sure, but I think it was within a few hours at most.

judyvin
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Re: Money transfer from UK

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Post by judyvin »

I transferred GBP last Thursday to my CreditWest GBP account and am still waiting for it to arrive. I was charged £9.50 by my bank, Lloyds to transfer £14,000. When it arrives I will find out what other fees have been deducted and will let you know.

phild
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Re: Money transfer from UK

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Post by phild »

Transferred money from barclays yesterday in my credit west account today £15 charge.

DenizIsmail
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Re: Money transfer from UK

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Post by DenizIsmail »

I also transferred from our Barclays bank account from the UK to a neighbours Turkiye IS Bankasi. He has a sterling account in TRNC. We were charged £12.50 fee. Monies was transferred within 3 days. You are required to have recipient name; bank name and receiving bank IBAN number

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Keithcaley
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Re: Money transfer from UK

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Post by Keithcaley »

Bear in mind that some TRNC Banks will make a charge for receiving GBP - whether they do or not, and how much, varies from Bank to Bank.

Kim
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Re: Money transfer from UK

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Post by Kim »

Thanks for all the reply. I know Halifax do transfer sterling to receive sterling in TRNC, they charged £9.50 but they say the transaction will not take more than 14 days. That put me off. I needed some sterling yesterday so I withdrawn sterling from TEB bank. Their daily limit is £500 but to add their fee £25 will be over the limit. So to stay within the daily withdraw limit is £450 plus £22.50 fee. It's so expensive to withdraw GBP in TRNC. Does anyone know other bank will charge less for withdrawing GBP cash here? Please advise. Thanks.

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Keithcaley
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Re: Money transfer from UK

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Post by Keithcaley »

Did yoy actually TRY to withdraw £500 or are you just assuming that it would not allow you to because of the extra £25?

teatime
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Re: Money transfer from UK

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Post by teatime »

I have transferred from Halifax in the past and it's usually arrives in TRNC bank within 2 days. There are other charges above the £9.50 though, I'm not sure if these were made by the bank it goes through in Turkey or the TRNC bank it arrives at. Worked our about £35 on £20,000.

Kim
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Re: Money transfer from UK

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Post by Kim »

The machine won't allow to draw £500 because once they added the fee of £25, it will be over the £500 limit. I needed £1,500 so I used 3 bank cards to withdraw £450 each plus fees then I have to use another card to withdraw £150 plus £7 fee to make up the £1,500. It was a very expensive way to draw GBP in TRNC. I chose to withdraw cash this way because it's instance cash so no transfer waiting time. I still need to withdraw some more in a couple of days so I need to find out is there any other bank will charge less fee for withdrawing GBP. Please advise. Thanks

judyvin
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Re: Money transfer from UK

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Post by judyvin »

Cost to transfer £14,000 from UK to Creditwest GBP account £66.87
Lloyds fee £9.50
Intermediary bank £45.00
Creditwest £12.37

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Keithcaley
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Re: Money transfer from UK

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Post by Keithcaley »

Thanks for the clarification Kim

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Re: Money transfer from UK

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Post by Keithcaley »

This won't help Kim's immediate problem, but Nationwide seem to cap their charge at £20 for a SWIFT GBP transfer, and TEB don't appear to charge anything for receiving it.

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