How to send money to Cyprus from Turkey with the best TRY-EUR rate

Comparing the different providers offering services between Turkey and Cyprus, is the best way to send money with confidence.

Right now, for TRY/EUR

• Wise is our top choice for TRY to EUR transfers. Transferring 250,000 TRY to EUR will cost you ₺1303.61 in fees, and your recipient will get 4,683.05 EUR.

• Wise offers the cheapest combination of low fees and competitive exchange rates of the 4 providers we compared. They offer a fee of 1303.61 TRY and exchange rate between TRY-EUR that is 0.16% different to the mid-market rate.

• Fastest money transfers from Turkey to Cyprus is with Wise. Based on our recent data, transfer time for a ₺250,000 transfer to Cyprus with Wise is within an hour. This can vary by amount and method, but it is a good point of reference.

The 4 providers we've compared ensures you will get the best options for your transfer to Cyprus from Turkey. By taking the time to compare you can save yourself in the region of 3% of the total transfer amount.

Whilst we rate Wise as the best overall, comparing gives you a comprehensive view of all the options for transferring Turkish Lira to Cyprus.

The exchange rate determines how much Euro you will get for every Turkish Lira you want to send. A better exchange rate is the best way to save money on transfers from Turkey to Cyprus.

Fees and exchange rates make up the total cost of sending money from Cyprus to Cyprus. Finding a company that can offer both ensures a good deal on your transfer.

• The Mid-Market and Exchange Rates: The current TRY-EUR mid-market rate is 0.0189 EUR per Turkish Lira. You will get more Euro for your Turkish Liras if you find a provider close to this number.

• Fees: Transfer fees are charged as part of the transfer. Wise charges 1303.61 TRY per transfer, which is currently the best deal on transfers to Cyprus. We’d always recommend comparing providers for your exact send amount as fees may change.

• Amount Received: Money transfer companies will show you the amount of Euro eventually received in Cyprus. You can assume that a lower cost of sending from Turkey will result in more money received in Cyprus.

The current rate between the Turkish Lira and Euro is 0.0189.

With currencies, the exchange fluctuates constantly, and the TRY-EUR exchange rate is no different. Tracking the rate and understanding the averages can help get a better deal.

Even waiting a day or two can help you get more EUR for the same amount of Turkish Lira.

Beyond this, a forward contract allows you to lock in an agreed exchange rate between Turkey and Cyprus.

The most cost effective way to send money from Turkey to Cyprus is via a bank transfer. Wise is the company offering the best price for a bank transfer.

Here are all the ways to send money from Turkey to Cyprus:

Bank transfers

Bank transfers are often the fastest option, and normally the cheapest, for sending money from Turkey to Cyprus.

By opting for a money transfer company such as Wise for transfers from Turkey to Cyprus, you can send money via a bank transfer while benefiting from lower fees and more favorable exchange rates. 


Debit and prepaid cards

Using a debit card, or prepaid option, for sending money from Turkey to Cyprus is easy with .


is a market leader in debit card payments for transfers from Turkey to Cyprus, this is among a total of 4 money transfer companies compared.

Credit cards

When it comes to the credit card deposits, when sending money from Turkey to Cyprus, we recommend comparing your options to get the best deal.

Regulations are important for keeping your money safe, Turkey and Cyprus have different regulations to consider.

Our directory of worldwide financial regulators contains details on regulation for money transfers between Turkey and Cyprus.

Some companies offering money transfers between Turkey and Cyprus will come with minimum or maximum thresholds on how much you can send or receive and this could cause rates or fees to change.

Comparing TRY-EUR rates for your specific transfer amount will factor in these rates and fees changes, so you’ll get the best provider for your specific needs. For regular transfers from Turkey to Cyprus, it’s best to check any changes in fees and rates every time you send.

For large transfers of money transfers from Turkey to Cyprus we’d recommend Wise. They offer a competitive combination of rates and fees when sending from Turkey to Cyprus, even at larger amounts.

Also, be sure to check with the recipient and understand any declarations needed on large amounts of money entering Cyprus from Turkey.

Receiving Euro in Cyprus has a few different options. The most popular ways to receive are through a direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all companies offering money transfers from Turkey to Cyprus will cater for every method for incoming Euro, so it’s best to check ahead of time.

One of the more popular ways is sending money from Turkey directly to a bank account in Cyprus. This is because it means the recipient in Cyprus has to do very little. Wise is the best company for bank transfers between Turkey and Cyprus.

Whilst cash pickup is popular, it is not always supported and can be costly compared to cheaper options.

Mobile wallet or P2P services and payment apps like PayPal, Xoom, and CashApp operate in Cyprus and are popular because of convenience, but they come with more limitations and higher costs compared to money transfer providers like Wise.

When using a money transfer provider to send Turkish Liras to Cyprus, you will need to verify your ID at the sign up stage.

Documents needed will vary and in some cases you might need a couple of options.

Generally speaking, those in Turkey can verify through a government issued ID such as a driver’s license or passport. If the recipient needs an ID to collect money or open a multi-currency account in Cyprus, both can also be used there as well.

Large transactions between Turkey and Cyprus will be subject to additional security measures such as proving where the funds originated, these will be for anti-money laundering purposes.

Wise has scored highly for transfers to Cyprus because of the easy sign up process in Turkey.

There will be tax declarations to consider when sending larger amounts of money between Turkey and Cyprus.

Transfers into Euro may need to be reported to tax authorities in Cyprus as well, where regular income, large amounts (such as property or inheritance) and business payments will all be subject to tax checks.

Based on the recipient, tax limits in Cyprus, as well as personal allowances will change. When in doubt, we’d recommend contacting a tax professional in Turkey or Cyprus to discuss your personal circumstances. This ensure you are not missing any specific tax declarations associated with your circumstances.