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Old 18th April 2017, 12:12   #1 (permalink)
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money transfer from Turkey to UK

I am trying to transfer money from my Turkish HSBC account where there's a very healthy balance and I have added my UK bank details but it's saying I have insufficient funds to make the transfer. Do i need to open a further account which will enable such payments to be made?
A further account is showing with a zero balance seems like the account from which I can transfer, I'm going round in circles here
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Old 18th April 2017, 12:14   #2 (permalink)
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Re: money transfer

Both accounts would need to be sterling accounts.
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Old 18th April 2017, 12:15   #3 (permalink)
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Re: money transfer

You need to transfer from turk account to a sterling account and then transfer from sterling account to the uk account.
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Old 18th April 2017, 12:33   #4 (permalink)
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Re: money transfer

Talk to Transferwise.
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Old 18th April 2017, 15:09   #5 (permalink)
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Re: money transfer

It won't allow me to transfer the money to the sterling account, or am I not following correctly!
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Old 18th April 2017, 15:30   #6 (permalink)
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Re: money transfer

You don't transfer money to the sterling account, you buy and sell Foreign currency (often linked to Buy sell gold/FX), then when it asks you tell it to add it to your current account. I do not have a HSBC account, so my terminology may differ slightly. Good luck
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Old 18th April 2017, 19:13   #7 (permalink)
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Re: money transfer

I.Abi is correct, you need to have Sterling account at Turkish HSBC Bank. You then (Online) or at the bank sell 'X' amount of liras and change it into Pounds and then put it into your Sterling account in your Turkey HSBC account. Then you can transfer it to the UK.
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Old 18th April 2017, 19:19   #8 (permalink)
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Re: money transfer

Quote:
Originally Posted by butt007 View Post
I.Abi is correct, you need to have Sterling account at Turkish HSBC Bank. You then (Online) or at the bank sell 'X' amount of liras and change it into Pounds and then put it into your Sterling account in your Turkey HSBC account. Then you can transfer it to the UK.
Warren
You also need to link the 2 accounts although they both appear when you sign online, we had to get HSBC telephone banking to link ours, once linked it's straight forward.

Martin
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Old 20th April 2017, 07:54   #9 (permalink)
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Re: money transfer

I have just completed a "substantial" transfer of GBP and you may need to be aware that there is a daily transfer limit of 75,000 USD (around 59000GBP). If you need to transfer in excess of this you will have to make multiple transfers.
Good Luck.
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