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lira for someone in Istanbul
The people sending from Riyadh and Jeddah to Türkiye tend to know exactly what the recipient needs in lira. A rate that moves between send and settlement breaks that.
Grey fixes the USD to TRY rate when you confirm and pays into Ziraat Bankası, İş Bankası, Garanti BBVA, Akbank, Yapı Kredi or any Turkish bank. Gulf residents buy property, study and holiday in Türkiye, and Gulf firms pay Turkish suppliers.
How sending to Türkiye works
Sign up
Open Grey with your passport or iqama. You'll get USD, EUR and GBP account details to receive income from abroad. Grey works with licensed partners serving the Gulf.
Fund
Hold your foreign earnings in USD on Grey. When a payment to Türkiye is due, convert exactly that amount to TRY and send.
Send
Türkiye runs on IBANs. Paste the recipient's TR IBAN, confirm the USD to TRY rate Grey shows in Riyadh, and send.
The cost of a transfer to Istanbul
Grey shows one rate, USD to TRY, and one fee. Both are fixed before you send from Riyadh. The amount that reaches Istanbul matches what you were shown.
What you agree is what arrives
The rate you accept in Riyadh is the rate applied. Movements in either currency afterwards don't touch what arrives at Ziraat Bankası, İş Bankası, Garanti BBVA, Akbank, Yapı Kredi.
Türkiye carries students, patients and traders at once. What they share is the need to know the lira amount before it leaves.
What Saudi-based senders put up with before
Banks in Türkiye charge receiving fees on international wires and sometimes hold them for review. A payment from Riyadh that lands as a domestic TRY credit at Ziraat Bankası, İş Bankası, Garanti BBVA, Akbank, Yapı Kredi clears faster and arrives whole.
What your recipient sees in Istanbul
The person in Istanbul gets what they'd get from a local transfer: TRY credited to their account at Ziraat Bankası, İş Bankası, Garanti BBVA, Akbank, Yapı Kredi. No collection, no code, no receiving fee. Confirmation shows in your app in Riyadh at the same time.
Ziraat Bankası and the rest
Every bank in Türkiye is covered, from the big names to regional ones.
Domestic credit
Your recipient sees a normal TRY deposit, not an international wire.
Confirmation in Riyadh
The app in Saudi Arabia shows settled the moment Istanbul receives it.
Funding from Saudi Arabia, in practice
Before the TRY reaches Istanbul, the money has to get onto Grey in Riyadh. Expatriates in Saudi Arabia fund Grey from abroad: a salary paid in dollars, a client overseas, family. That balance sends home without a riyal step. Hold the balance in dollars and convert to TRY exactly when the payment to Istanbul is due.
Income arrives
From an employer, a platform or a client abroad.
Balance waits
In USD, until the Türkiye payment is due.
Transfer goes
One conversion to TRY, into Ziraat Bankası.
If the TRY amount matters more than the USD amount, enter the TRY figure first and let Grey work back to what you'll pay.
Who this route is for
Textile traders
Payments to wholesalers in Laleli, Merter and Osmanbey.
Family support
Monthly transfers to relatives in Istanbul, Ankara, Izmir and the Anatolian provinces.
Students
Living costs for scholarship students at universities in Ankara, Istanbul, Izmir and Konya.
Medical patients
Deposits and balances for dental, hair and fertility clinics in Istanbul.
Seen from Riyadh, the corridor looks like this. Gulf residents buy property, study and holiday in Türkiye, and Gulf firms pay Turkish suppliers. From Riyadh, the money tends to go to specific bills with specific due dates.
Grey on Saudi Arabia to Türkiye, in three points
FAQs
Can I fund a Grey account with a local transfer inside Saudi Arabia?
No. There is no local deposit in Saudi Arabia. Grey is funded by foreign income in USD, EUR or GBP, with no riyal step.
How long does a transfer from Saudi Arabia to Türkiye take?
Most funded transfers from Riyadh arrive the same day, as TRY credited to the recipient's Turkish bank account.
What do I need to open a Grey account in Saudi Arabia?
Your passport or iqama, and about five minutes. The free account comes with USD, EUR and GBP details, the USD account provided by Lead Bank.
Will my recipient in Istanbul pay a receiving fee?
No. The payment lands at Ziraat Bankası as a domestic TRY credit, so nothing is skimmed, deducted or rounded on arrival.
Can I enter the lira amount rather than the dollar amount?
Yes. Enter the TRY figure first and Grey works back to the dollars you will pay, with the fee and rate shown.
Can I pay a smaller regional bank in Türkiye?
Yes. Every bank in Türkiye is covered, from Ziraat Bankası and the other big names to regional ones. The credit looks domestic.
Is the USD to TRY rate fixed when I confirm in Riyadh?
Yes. The rate you accept is the rate applied, and later movements in either currency do not change what arrives in Istanbul.
How can my family abroad put money onto my Grey account?
They can send to your GreyTag. Between Grey users it is instant and free, and that balance converts straight to TRY.
Does my recipient need an app or a collection code?
No. No app, no account, no code. Their bank details are enough, and they see a normal TRY deposit in Istanbul.
What recipient details do I need for a payment to Türkiye?
Türkiye runs on IBANs, so the recipient's TR IBAN and name. Saved once, later payments to Istanbul take three taps.
Can I hold my salary in dollars and convert only when a bill is due?
Yes. Keep the balance in USD on Grey and convert exactly the amount you need into TRY when the Istanbul payment falls due.
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