How to transfer money to Turkey to buy real estate

In 2025, choosing the right methods of transferring money to Turkey is a crucial aspect of real estate investment, as it directly affects the speed and security of the transaction. The buyer’s decision depends on the amount, convenience and legal requirements of both countries. Bank transfers offer a high level of control and transparency but may involve fees (around 0.5%) and delays. Cryptocurrency payments attract investors with their decentralisation and speed but come with legal and financial risks that need to be managed carefully.

International money transfer services provide quick options without needing a bank account, but they have limits on transfer sizes and high fees (ranging from 1% to 20%). Cash payments remain popular, especially where access to banking is limited, though they come with restrictions and security issues. Understanding the advantages and disadvantages of each method helps buyers optimise the process and avoid mistakes when transferring funds.

Contents:

• Bank transfer to the seller’s account
• Cryptocurrency
• Electronic payments
• Cash payments
• Partners

Bank transfer to the seller’s account

You can pay for a house or apartment in Turkey either remotely or in person via a bank transfer. The initial deposit is typically made in cash or by card. The remaining amount is transferred strictly on the day ownership is officially registered, as this protects both the buyer and the seller. It’s important to contact your bank in advance to clarify the timeframe, transfer methods and possible limitations regarding business days and cut-off times.

For international transfers, the bank usually charges a fee of around 0.5% of the total amount. There may also be minimum flat fees or variable rates depending on the currency used. Buyers are advised to consider these additional costs in advance, keep a reserve, understand processing times and supported payment systems (like SWIFT or SEPA) and verify whether the converted amount will be credited automatically or if manual confirmation is required.

The bank might ask for documentation, such as proof of the source of funds (salary, business income, etc.), a tax identification number and a copy of the sales agreement. Sometimes, a certificate of no criminal record might also be needed. Remember that these requirements vary depending on the country of origin, the transfer amount and the bank’s internal policies, so it’s best to request a complete list of required documents in advance.

Advantages of bank transfers:

• High level of security and transaction oversight.
• Ability to track the transfer and confirm receipt.
• Funds go directly to the seller’s account without intermediaries.

Disadvantages:

• Fees and additional charges may increase the total cost.
• International transfers may take several business days.
• Delays may occur due to document verification or currency control procedures.

Cryptocurrency

The rise of cryptocurrency has significantly impacted the Turkish property market—more developers and private sellers are now accepting digital assets as a payment method. This trend is growing in popularity due to its decentralised nature, which operates outside traditional banking systems and government oversight. The typical process involves:

1. Signing an escrow agreement. The crypto assets are transferred to a secure deposit until legal formalities are completed.
2. Ownership registration. Once the buyer’s details are entered into the official land registry, the seller gains access to the funds.
3. Finalizing the transaction. The buyer becomes the full legal owner of the property.

Advantages of using cryptocurrency:

• Maintains anonymity.
• Fast transaction processing.
• No transfer fees.

Disadvantages:

• High volatility and currency risk.
• Legal and tax complexities that require expert consultation.
• Risk of fraud when dealing with unverified intermediaries.

Electronic payments

Funds can be transferred via international money transfer services such as Unistream, Western Union or MoneyGram. These services are typically available at bank branches, shopping centres, airports and train stations. To send money, you need to:

1. Visit an office of the selected payment service.
2. Provide the recipient’s full name in Latin letters.
3. Share all required details with the recipient: the amount sent, fee amount, currency, country of origin and the tracking number (such as MTCN or a similar code).

This method is convenient for paying for properties in off-plan projects in Turkey without opening a bank account. To send money, you only need to show your passport and provide the funds in cash. The transfer is processed directly through the service’s system, bypassing bank accounts, allowing the recipient to receive the funds within minutes or hours.

Note that service providers charge a fee, usually between 1% and 20% of the transfer amount, depending on the provider, the amount sent and the destination country. There are also daily limits on how much can be sent, set by both the payment system and the laws of the sending country. In some cases, documentation confirming the source of funds may be required.

Advantages of electronic payments:

• Ability to send money without opening a bank account.
• Fast delivery of funds to the recipient.
• Wide network of service points worldwide.

Disadvantages:

• High fees for large amounts.
• Daily transfer limits.
• Not all systems support large payments typical for real estate purchases.

Cash payments

When carrying more than USD 10,000 in cash across the border, a customs declaration must be completed. Customs authorities have the right to request documents confirming the legal origin of the funds. Amounts below this threshold do not require declaration.

To withdraw cash in Turkey, you can use ATMs. It's advisable to check in advance what commission your bank charges and which currency is best for withdrawal to minimise conversion losses. Keep in mind that there are withdrawal limits, so accessing a large sum may take several days.

Advantages of cash payments:

• No need for banking operations or wire transfers.
• Immediate access to funds without waiting.
• No need to open a bank account or interact with financial institutions.

Disadvantages:

• Restrictions on transporting large sums and mandatory declaration.
• Security risks associated with transporting and storing cash.
• Potential inconvenience when withdrawing large amounts due to limits and fees.

Partners

Yekta Homes, founded in 2005, is a leading developer in Turkey. With over 15 years of operation, the company has successfully completed 17 major projects in prestigious areas of Alanya and Gazipasa, providing quality housing to more than 2,000 families. Yekta Homes offers a full range of services, supporting clients at every stage of the home-buying process, from selecting the right property to finalising ownership documents.

Among its additional services is assistance with money transfers, which significantly simplifies and speeds up the transaction process for foreign investors. By working with Yekta Homes, clients gain access to high-quality homes in popular tourist regions of the country as well as to a reliable partner who handles all the complexities related to transferring funds and completing the real estate purchase in Turkey.