Bank Transfer Payments
in Turkey
Standard TRY wire to any Turkish bank account via EFT.
Bank Transfer in Turkey
Turkish Lira ยท TRY
Contractor must provide their IBAN (TR + 24 digits) and bank name.
Payment Journey
You fund in USD, stablecoin, or BTC โ your contractor in Turkey chooses how they receive it.
Fund your Bitwage Balance
USD via wire/ACH/FedNow, stablecoin (USDC/USDT), or BTC. Fund once โ use for all payments.
Create a payment run
Add your Turkey contractor(s) to a batch or individual payment. Set the amount in USD โ Bitwage handles everything else.
Converts & delivers via Bank Transfer
FX rate locks at approval. Bitwage converts USD โ local currency and routes the payment via Bank Transfer. Compliance screened automatically.
Funds arrive via Bank Transfer
Settlement: Same day. Fees: 0.5โ1.5%. Contractor can also choose USDC, USDT, or Bitcoin instead โ they set their preference once.
How Bank Transfer Works in Turkey
Bitwage converts USD to TRY at the locked rate and routes a local EFT to the contractor's Turkish bank account. Funds typically settle the same business day.
Compliance & Security
Turkey requires foreign income to be declared with the Turkish Revenue Administration (GฤฐB). Bitwage screens all payments against OFAC and EU sanctions lists.
The TRY has experienced significant depreciation. Bitwage locks the USD/TRY rate at execution time; many Turkish contractors prefer stablecoin payouts to preserve dollar-equivalent value.
Bank Transfer in Turkey FAQ
Common questions about Bank Transfer payments, settlement, fees, and requirements.
Bank Transfer payments to Turkey typically settle in Same day. Bitwage locks your FX rate lock at execution time so recipients receive exactly the amount shown in the payment preview.
Bitwage charges 0.5โ1.5% for Bank Transfer payments to Turkey. There are no hidden per-transfer fees beyond the displayed rate. You can see the full cost breakdown before executing via our {{link:products/contractor-payments}} platform.
Contractor must provide their IBAN (TR + 24 digits) and bank name. Bitwage validates all payment details before executing. For batch payments to multiple contractors, use {{link:products/masspay}} to upload a CSV with all recipient details at once.
Yes. With {{link:products/masspay}} you can include any number of Turkey-based contractors in a single payment run, mixing Bank Transfer with other local rails. All FX conversions are locked at batch payment processing execution time.
Related Resources
Start Sending Bank Transfer Payments to Turkey
Settlement in Same day. Fees from 0.5โ1.5%. OFAC screened on every payment.