In this article, you'll discover whether Revolut works in Turkey, explore some potential drawbacks if it is available, and consider the possibilities it offers. Stay tuned to find out more.
Does Revolut Work In Turkey?
Revolut is not available in Turkey. This means that users in Turkey cannot access Revolut's range of financial services, including multi-currency accounts, international money transfers, and spending rewards.
While Revolut offers a Turkish Lira travel card for users traveling from the UK to Turkey, this service is not extended to residents of Turkey. Therefore, functionalities such as fee-free ATM withdrawals, spending controls, and instant notifications are not accessible to Turkish residents.
Fees and Charges for Using Revolut in Turkey
Here are some general costs that users might encounter when using Revolut in Turkey:
- Currency exchange fees: Subject to fair-usage limits and weekend markups.
- ATM withdrawal fees: A maximum of 5 ATM withdrawals a month and up to £200 per rolling month are free. Anything over these limits is charged at 2% of the value of the ATM withdrawal or a minimum fee of £1 (whichever is greater).
- Transaction fees: No specific transaction fees are mentioned for spending in Turkish Lira, but currency exchange fees may apply if the transaction involves a currency conversion.
- Currency conversion fees: Exchange fees above your free conversion limits will apply for conversions.
- ATM access fees: May be charged by the ATM provider, which Revolut cannot prevent.
Is Revolut the Best Option in Turkey?
Even if Revolut is available in Turkey, it might not be the best option for users due to several limitations and restrictions that could impact the overall user experience.
- Limited ATM withdrawals: Only 5 free withdrawals per month, then fees apply.
- Currency exchange fees: Fair-usage limits and weekend markups can increase costs.
- ATM provider fees: Additional charges by ATM providers that Revolut cannot prevent.
- Restricted services: Some Revolut features are not available to Turkish residents.
- Currency conversion limits: Fees apply for conversions above free limits.
Alternatives to Revolut in Turkey
1) OneSafe
OneSafe stands out as a leading alternative payment solution in Turkey, offering ease of use, lower fees, and superior customer support. With features like simple onboarding, multi-currency support, and seamless global payments, OneSafe ensures streamlined financial operations tailored for both traditional and Web3 businesses.
OneSafe Reviews
Users have praised Onesafe for its comprehensive banking features, including ACH, Crypto, Wire deposits, and Virtual cards. They appreciate the support for most businesses, making it the best bank they have used. The positive sentiment highlights the ease of use and the range of services that cater to diverse financial needs.
2) Wise
Wise offers a multi-currency account, enabling users in Turkey to manage over 40 currencies. Key features include low-cost international transfers, global account details for receiving money, and a Wise debit card for worldwide spending without foreign transaction fees. Its transparency, speed, and robust security measures make it a reliable choice.
Wise Reviews
Wise has an overall rating of 4.3 out of 5 based on 247,820 reviews. Users generally mention issues with the speed of transfers and difficulties with customer support.
Check out more Wise reviews here.
3) NOWPayments
NOWPayments is a versatile crypto payment gateway that offers Turkish businesses the ability to accept over 300 cryptocurrencies, including BTC and ETH. Key features include low transaction fees of 0.5%, instant payouts, and fiat withdrawals. Comprehensive 24/7 support and easy integration make it a reliable option for diverse payment needs.
NOWPayments Reviews
NOWPayments has a rating of 3.8 out of 5 based on 402 reviews. Users generally mention issues with account restrictions, refund policies, and customer service.
Check out more NOWPayments reviews here.
Frequently Asked Questions about Revolut in Turkey
Can Turkish residents open a Revolut account?
Turkish residents cannot open a Revolut account as the service is not available in Turkey.
Can I use my Revolut card in Turkey?
Yes, you can use your Revolut card in Turkey for transactions and ATM withdrawals.
Are there any fees for using Revolut in Turkey?
Yes, fees may include currency exchange fees, ATM withdrawal fees, and ATM provider fees.
Does Revolut support Turkish Lira?
Revolut supports Turkish Lira for travelers but not for residents of Turkey.
Can I transfer money to a Turkish bank account using Revolut?
Yes, you can transfer money to a Turkish bank account, but fees may apply.
Begin Your Journey with OneSafe Today!
Choosing the right payment solution in Turkey is crucial for seamless financial operations. While Revolut has limitations, OneSafe offers a comprehensive alternative with lower fees and superior support. Explore OneSafe's features and streamline your financial transactions. Sign up to OneSafe today!
