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How to Send Money To Turkey from Australia?

Dozens of Turkish expatriates live in Australia, and if you are one of them, then you also be the one who always on the hunt for a reliable channel for sending money to Turkey from Australia. True, connecting with the most reliable and affordable online channel for sending money back home is no less than a divine blessing for any expat. Therefore, be wise when opting for any online money transfer service and evaluate it according to your specific needs.

When it comes to transferring money, there are many things to consider, and the foremost one is evaluating exchange rates as it lays down the foundation for a smooth transaction of your money to your loved ones back in Turkey. Additionally, to keep money transfer super precise, you need to start right from scratch, from knowing the way to choosing reliable money transfer channels to risks and myths associated with remittances. Below, you will get everything required to transact to Turkey Seamless from Australia.


The Following are Some Steps to Connect with the Reliable Money Transfer Service: 


Choosing a reliable online money transfer company for sending money to Turkey from Australia is crucial to ensure your funds reach their destination safely and efficiently. Here are major steps to help you make an informed decision:

Research Your Options:

Start by researching the various online money transfer companies available in Australia. Look for well-established and reputable service providers.

Compare Exchange Rates:

Compare the exchange rates offered by different companies. Choose the one that offers competitive rates, as this can significantly affect the amount your recipient receives in Turkish Lira.

Fee Analysis:

Understand the fee structure of each company. Some services may charge transfer fees, while others offer fee-free transfers for specific amounts or under certain conditions.

Security Measures:

Ensure the company employs robust security measures to protect your personal and financial information during the transfer process.  Consider SSL encryption and other security authorizations.

Licensing and Regulation:

Check if the online money transfer company is licensed and regulated by relevant authorities in Australia. Compliance with regulatory standards adds credibility.

Transfer Speed:

Consider the speed of transfers. Some companies offer faster delivery options, which may be essential if you need the money to reach your recipient quickly.

Transfer Options:

Look for a service that offers various transfer options, including bank transfers, cash pickups, and mobile wallet transfers, to suit your recipient's preferences.

Customer Support:

Assess the quality of customer support. Reliable companies provide accessible customer service through multiple channels, such as phone, email, or live chat, to address your concerns promptly.

Online Reviews and Ratings:

Read online reviews and ratings from other customers who have used the service to transfer money to Turkey. This can provide valuable insights into their experiences.

Transparency and Disclosure:

Choose a company that is transparent about its terms and conditions, fees, and exchange rates. Avoid those with hidden charges or unclear policies.


Risks Associated with Sending Money to Turkey from Australia:


Sending money online from Australia to Turkey or any international transfer comes with certain risks and considerations. Here are some common risks associated with this process:

Conversion Rate Variations: 

Currency exchange rates can change rapidly, affecting the amount of money received by the recipient in Turkey. Exchange rate fluctuations can lead to unexpected variations in the value of the transferred funds.

Transfer Charges: 

Many money transfer companies charge fees for services. These fees can vary significantly between providers, impacting the overall cost of the transaction.

Unseen Costs: 

In addition to the upfront transfer fees, some services may have hidden costs or fees that are not immediately apparent. These can include intermediary bank fees or margin added to the exchange rate.

Security Worries: 

There is a risk of online fraud or cyberattacks when sending money online. It's essential to use reputable and secure money transfer platforms to minimise this risk.

Delivery Period: 

The time it takes for the money to reach the recipient in Turkey can vary depending on the transfer method used. Some transfers can be almost instant, while others may take several days.

Documentation and Proof:

 Transfers involving a significant amount of money may require extensive documentation and verification. This can be time-consuming and may delay the transfer.

Conversion Rate Lock-In:

Some providers offer the option to lock in an exchange rate when initiating the transfer, while others offer real-time rates. The timing of the exchange can impact the amount received in Turkey.

Regulatory Obedience: 

Both Australia and Turkey have regulations in place to combat money laundering and other financial crimes. Ensure you comply with these regulations and provide all necessary information when sending money.

Financial Institutions' Policies: 

The policies and procedures of the sending and receiving banks or financial institutions can affect the speed and cost of the transfer. It's essential to understand these policies before initiating a transaction.

Imperfect or Incorrect Details: 

Providing accurate recipient details is crucial to avoid complications and potential delays in the transfer process. Double-check the recipient's information to ensure the funds reach the intended party.


Few Misconceptions Linked With Online Money Transfers:


Online Money Handovers Are Always Big-Budget:

One common myth is that online money transfers are always costly. While some services may charge high fees or offer unfavourable exchange rates, there are many competitive options available that provide cost-effective transfers.

Banks Offer the Remarkable Exchange Rates: 

It's a misconception that banks always offer the best exchange rates. Often, specialised online money transfer services and dedicated currency exchange providers offer more favourable rates.

Transfers Are Prompt: 

Many people think that online transfers happen instantly. While some services offer quick transfers, the speed may vary based on the payment method, time of day, and the processing time of the receiving bank.

Unseen Costs Are Unavoidable:

Some believe that hidden fees are inevitable in online money transfers. In reality, many services are transparent about their fees and exchange rates. It's essential to read the fine print and compare costs.

Online Transfers Are Not Safe: 

Concerns about the security of online money transfers are common. Reputable services use encryption and other security measures to protect your funds. Choosing a trusted service with a strong track record is crucial for security.

You Need a Bank Account:

Not all online money transfer services require the sender or recipient to have a bank account. Some offer cash pickup options, which can be convenient for the recipient.

Sending Little Amounts Is Not Worth It:

Some people believe online transfers are only cost-effective for large amounts of money. While fees may be a more significant factor for smaller transfers, it's still possible to find affordable options.

Exchange Rates Are Immovable: 

Exchange rates can fluctuate frequently. Some believe that the rate they see when initiating a transfer is fixed, but in reality, it can change before the transfer is completed.

Every Online Money Transfer Service is the Same:

Each online money transfer service has unique features, fees, and exchange rates. It's important to research and compare different options to find the one that suits your needs best.

Online Transfers Are Only for Tech-Savvy:

Individuals: Many online money transfer services are user-friendly and have mobile apps for easy access. You don't need to be highly tech-savvy to use them.


Final Words


Sure, you are now fully prepared to initiate your money-sending journey to your home country, Turkey, from Australia. Begin each step confidently and let your family enjoy the blessings back home acquired by your hard-earned money in Australia.

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Compliance

Speed Remit works diligently to prevent its systems from being used to perpetrate any unlawful activity. We protect our customers and prevent the use of our products or services by anyone for money laundering, terrorist financing, sanctions violations, scams, and fraudulent intentions. As necessitated, we work with law enforcement to apprehend and impeach offenders.

Speed Remit collect different types of personal information for legal and compliance purposes relating to you that may be Compliance information, including fraud prevention, identity verification, and sanction checks. This may further include using your personal information to validate and authenticate your identity, and utilising third parties to help us do so, using personal information needed to comply with legal and regulatory duties related to anti-money laundering and counter-terrorist financing; detection, prevention and prosecution of fraud and theft as well as preventing illegitimate or prohibited use of our services or other illegal or wrongful activity.

Onboarding customer Identity Verification

Speed Remit is a financially regulated company and required by laws to verify the information prior to onboarding customers. Below are the more information on our verification processes and policies for our onboarding customers.

1. Why does Speed Remit need to verify me?

1.1 Normally, we will only need to check/Screen your name, address date of birth and country of origin.
1.2 We may also do enhance due diligence (EDD) that will be depend on amount to comply with the sending country regulations.
1.3 We will contact you if we need anything from you, so please ensure you check your emails regularly after you’ve made your transfer. In very rare cases the funds remain undelivered in absence of any additional information required under the prevalent laws of the territories.

2. What ID is required for the country I’m registered in?

2.1As a financially regulated company we are required by laws to verify all of our customers. Part of this process is 'identity verification'. Usually this involves collecting a copy of Government issued Valid ID from you and you can upload your ID securely at any time for our screening / verification during registration process.
2.2 Please upload your ID front side and back side to complete your verification process.

3. .Is there anything I need to know before I upload my ID?

3.1 When submitting your ID, please make sure that it's a high quality photo or scan of a valid original government-issued ID card, and the image should be clearly displaying the below information:

- ID Number
- Your Photo
- Your Complete name
- Your Date of Birth
- ID’s expiry date
- The full machine readable zone (the two lines of letters and numbers at the bottom of the document) if present
- Resident Address

3.2 The complete name and date of birth must match with your details on your Speed Remit account.

3.2 If any details do not match, please contact the Speed Remit Customer Support team (sr.cs@speedremit.com) to have your details amended. For more information on this click "My Account" option

4. What types of ID can I use?

4.1 In case the Government issued ID card is not available incidentally at the time of registration / transaction, we may alternatively accept below ID's in case it is allowed your local central bank / financial regulator. At the end of the day, you must be holder of a valid ID even if you are unable to present it at the time of transaction.

- Driving License
- National ID
- Passport - All four corners of the document must be visible and it should visibly display the vital information.

4.2 Always upload the front and back of the ID or any alternate document (if any). The document number must be visible and there should be no glare or defocused image.
* Must match the details in your Speed Remit account

5. What is address verification?

Address verification is part of our customer verification.

5.1 If we need to verify your resident address we will contact you by email. You’ll need to reply to the email with your address and any proof of Address document as an attachment e.g. Last Utility Bill etc.

5.2 When submitting your proof of address, please ensure that it is a high quality photo or scan of a valid document showing:

- Your full name
o This must match what appears on your Speed Remit account
- Your full Resident address
o This must match what appears on your Speed Remit account

5.3 The name and address on the document must match the details on your Speed Remit account.

5.4 If any detail does not match, you can update them on our app or website by visiting the My Account Option of the Speed Remit.

6. What types of document you required to accept for address verification?

6.1 ID documents we can usually accept include:

- Utility Bill
o This can be a gas, electricity, water or insurance bills.
o We can’t accept mobile phone bills
o The bill must be no older than 3 months
- Driving Licence
o This must show your address
o This must be in date – we cannot accept expired documents
- Bank / Credit card statement
o This must be no older than 3 months

6.2 If your document is not accepted, it could be for a number of reasons. Some of the reasons documents cannot be accepted are:

- The date on document
o If the document is older than 3 months, we cannot accept it
- The details on your document
o The details (including name and address) on the document are not matched with information on your Speed Remit account
o The details must be for your home residence, not a PO Box or workplace
- The document type
o The type of document may not be one we can accept (for example a mobile phone bill)

7. What happens to my personal information after I upload it?

7.1 We only use these when we are completing Know Your Customer (KYC) checks, which is an essential process.

7.2 You can read more about our privacy policy and how we use your information here.

8. Need to send us your documents?

8.1 TIf we've emailed you and asked you to send us some documents, use the link in our email to upload your photo ID or selfie, and provide your proof of address by attaching it and replying to our email.

- To provide your photo ID or selfie: use the shared link in the email, or upload them here:
o Photo ID
o Selfie
- To provide your proof of address or any other document, reply to our email with your document as an attachment

Be our Agent

Speed Remit is expanding and intend to widen our presence in order to provide our customers with remarkable services across the world. We offer a great opportunity for worldwide regulated money transfer companies/ Banks to join speed remit Network as send and receive agent, simply fill in the form below. We’ll get back to you as soon as possible.