How to pay suppliers in Türkiye from the US: IBAN, lira or dollars
To pay a supplier in Türkiye, collect its 26-character IBAN starting TR for the account in the invoice currency and its bank's SWIFT code, then send US dollars or euros by SWIFT wire, or lira as a local payout. Turkish exporters must bring goods export proceeds into Türkiye within 180 days and sell at least 35% for lira until 31 January 2027, so pay the account the supplier names, with OUR charges. This guide covers details, rails, cut-offs, holidays, published fees and returns.
- A Turkish IBAN has 26 characters, starting with TR, and a company's dollar account has its own IBAN separate from its lira account.
- Goods export proceeds must be brought into Türkiye within 180 days of the actual export date under the Communiqué issued under Decree No. 32.
- At least 35% of export proceeds linked to an İBKB must be sold to the bank for lira, a rate the CBRT has extended to 31 January 2027.
- FAST, the CBRT's instant payment system, runs 24/7 for lira only, with a limit of 300,000 TL per transaction.
- Halkbank's published list rate for an incoming transfer from abroad is 0.5%, with a minimum of $30 and a maximum of $300, plus 5% BSMV.
- The CBRT regulation in force since 30 April 2021 states that crypto assets, including stablecoins, cannot be used in payments directly or indirectly.
TRY or USD invoices: which should you pay?
Pay in the currency on the supplier's invoice. Turkish exporters invoice foreign buyers in Turkish lira (TRY), US dollars (USD) or euros (EUR), and the choice decides the account you pay, the rail you use and who carries the exchange rate risk.
For a Turkish exporter of goods, dollars come with two rules. Under the Communiqué issued under Decree No. 32 on the Protection of the Value of the Turkish Currency, proceeds from goods exports must be brought into Türkiye within 180 days of the actual export date. And when a Turkish bank records those proceeds on an İBKB (İhracat Bedeli Kabul Belgesi, the export proceeds acceptance certificate), at least 35% must be sold to that bank for lira (Andersen Türkiye, Mevzuat Sirküleri 2026/26). The central bank, the CBRT, has extended the 35% rate to 31 January 2027 (Para Ajansı, 8 August 2026). The rest can stay in dollars.
| Invoice currency | What you send | What the supplier receives | Who carries the exchange rate risk |
|---|---|---|---|
| TRY | Lira, converted by your provider before sending | The exact lira amount, if paid as a local lira payment | You, the buyer |
| USD, paid to the supplier's USD account | US dollars by SWIFT wire | Dollars; at least 35% sold for lira once linked to an İBKB, until 31 January 2027 | The supplier, on the share it sells |
| USD, paid to a lira account | US dollars by SWIFT wire | Lira, converted by the supplier's bank on arrival | The supplier, at the bank's rate |
Sources: Andersen Türkiye, 6 May 2026; Para Ajansı report of the CBRT decision, 8 August 2026; as published on 29 October 2026.
The share a supplier keeps in dollars can pay its own suppliers abroad, so an exporter that also imports may prefer a dollar invoice. Paying in lira is possible: Wise states that it can send TRY, but only to bank accounts located in Türkiye that are denominated in TRY (Wise). The export proceeds rules are written around foreign currency that a Turkish bank receives and records on an İBKB, so before paying a goods invoice in lira, ask the supplier whether its bank can close the export file with that payment. Service exporters, such as software firms, fall under a separate CBRT circular for invisible transactions and should tell you which currency they need.
Details to collect from a Turkish supplier
Collect the payment details once, in writing, on the supplier's letterhead or commercial invoice. Turkish accounts use IBAN, the International Bank Account Number, a standard format that identifies an account across borders. A Turkish IBAN has 26 characters: TR, two check digits, a five-digit bank code, a reserved digit and a 16-character account number (Currencies Direct, TRY transfers). A Turkish company's dollar account has its own IBAN, separate from its lira account, so make sure the IBAN matches the invoice currency.
| Detail | Example or format | Why it matters |
|---|---|---|
| Beneficiary name | The supplier's registered name, exactly as on the account | A trade name or abbreviation can be queried |
| Beneficiary address | Full street address in Türkiye | Required on SWIFT wires |
| IBAN of the account in the invoice currency | 26 characters starting TR, written without spaces | The lira account's IBAN on a dollar wire leads to conversion or a query |
| Bank name and SWIFT/BIC code | 8 or 11 characters, head office code | Routes the wire to the right bank |
| Intermediary (correspondent) bank | The US bank the supplier's bank uses for dollars, if it names one | Some banks require it on dollar wires |
| Invoice number and export declaration number | As on the commercial invoice and customs declaration | Lets the bank link your payment to the export and issue the İBKB |
| Tax number | The supplier's Turkish tax ID, shown on its invoice | Lets you match the bank details to the invoicing company |
Sources: Currencies Direct, TRY transfers; Andersen Türkiye; as published on 29 October 2026. Field list compiled by the Helm Editorial Team.
A correspondent bank is a bank that holds an account for another bank and settles payments in its currency. Treat any change of bank details as a fraud risk, and confirm new details by calling a contact you already know. Check that the five-digit bank code inside the IBAN belongs to the bank the supplier named; our SWIFT code lookup helps confirm the bank's SWIFT code.
How the money moves: SWIFT, lira payouts and FAST
There are two ways to get money from a US account to a Turkish supplier.
SWIFT wire. Your bank sends an international wire over SWIFT, the global messaging network banks use for cross-border payments, to the supplier's bank. The dollars settle in the United States on Fedwire, the Federal Reserve's system for large-value transfers, through the Turkish bank's correspondent. Every SWIFT wire carries a charges instruction: OUR means you pay all bank charges, SHA means each side pays its own bank, and BEN means all charges come out of the amount sent.
Local lira payout. A provider with access to Turkish rails converts your dollars and pays the supplier's lira IBAN as a domestic payment. Inside Türkiye, lira moves on the CBRT's systems. FAST, the instant payment system the CBRT launched on 8 January 2021, runs 24 hours a day, 7 days a week, handles lira only, and has a limit of 300,000 TL per transaction, which the CBRT says may be revised (CBRT, FAST). Larger lira payments use EFT, the CBRT's interbank funds transfer system.
| Route | Currency the supplier receives | Timing | Notes |
|---|---|---|---|
| SWIFT wire to the supplier's USD account | USD | Credited on a Turkish business day | Standard route for goods exports; the bank issues the İBKB |
| SWIFT wire to the supplier's EUR account | EUR | Credited on a Turkish business day | Common for buyers in Europe |
| Local lira payout through a provider | TRY | Currencies Direct states same working day if it receives the payment by 09:15 | Wise sends TRY only to TRY accounts in Türkiye |
| FAST (inside Türkiye) | TRY | 24/7, instant | Up to 300,000 TL per transaction |
| Letter of credit or documentary collection | USD or EUR | Against documents | Banks exchange documents and payment |
Sources: CBRT, FAST; Currencies Direct; Wise; as published on 29 October 2026.
Do not offer to pay in stablecoins. The CBRT's Regulation on the Disuse of Crypto Assets in Payments, in force since 30 April 2021, states that crypto assets cannot be used in payments directly or indirectly (CMS). That covers USDT and USDC.
Helm sends international payments to suppliers by SWIFT, and by local rails in the supplier's currency where available, from the buyer's own account, with the rate, fee and expected arrival shown before you send. Helm accounts also hold USDC and USDT, but those features are not a way to pay a supplier in Türkiye.
Cut-offs and holidays
On the US side, the Fedwire Funds Service day opens at 9:00 p.m. Eastern Time (ET) on the previous calendar day and closes at 7:00 p.m. ET, with a 6:45 p.m. ET cut-off for customer transfers (Federal Reserve Financial Services). Your bank's own cut-off for international wires is earlier, and a provider paying out lira sets its own: Currencies Direct gives 09:15 for same-day arrival.
Türkiye has few public holidays in the last months of the year. Republic Day falls on 29 October, and no public holidays are listed for November or December 2026 (Daily Sabah). New Year's Day, 1 January, is a public holiday. The US calendar has more closures in the same period.
| Date | Closed | Plan for |
|---|---|---|
| Wednesday 11 November 2026 | US Fedwire (Veterans Day) | Send US wires by 10 November |
| Thursday 26 November 2026 | US Fedwire (Thanksgiving) | Send US wires by 25 November |
| Friday 25 December 2026 | US Fedwire (Christmas Day); Turkish banks open | Send US wires by 24 December |
| Friday 1 January 2027 | Both (New Year's Day) | Send by 31 December |
| Monday 18 January 2027 | US Fedwire (Martin Luther King, Jr. Day) | Send US wires by 15 January |
Sources: Daily Sabah, 2026 official public holidays in Türkiye; Federal Reserve holiday schedule K.8; as published on 29 October 2026. Religious holidays in Türkiye follow the lunar calendar and move each year.
The 180-day export proceeds window runs from the export date, so a payment that waits over US holidays still counts against the supplier's deadline.
Fees as published
A payment to Türkiye can carry four costs: your provider's sending fee, the exchange rate if you convert, intermediary bank deductions on a SWIFT wire, and the supplier's receiving charges. Turkish banks publish fee information forms. The example below is Halkbank's form for foreign currency transfers.
| Item | Published charge | Who pays it |
|---|---|---|
| Incoming transfer from abroad (Halkbank) | 0.5%, minimum $30, maximum $300 | Supplier |
| Banking and insurance transactions tax (BSMV) on bank fees | 5% | Supplier, on its fees |
| Correspondent bank charges paid by the ordering party (Halkbank) | Collected after the correspondent's request | As agreed |
| Intermediary banks | Deducted in transit on SHA and BEN wires | Whoever the charges code assigns |
| Helm | Agreed in writing before the account opens | Buyer |
Source: Halkbank, foreign transactions information form, as published on 29 October 2026. The form applies list rates where there is no special agreement; other banks set their own charges.
At Halkbank's list rate, a $20,000 incoming wire costs the supplier $100 plus BSMV, and a $100,000 wire $300 plus BSMV, because the cap applies. A wire sent with SHA charges can also arrive short, and the İBKB then shows less than the invoice. Send with OUR charges when the supplier must receive the full amount. Helm agrees pricing with each business before the account opens; speak to the team.
Common reasons payments are delayed or returned
| Problem | What happens | How to prevent it |
|---|---|---|
| Dollars sent to the lira IBAN | Converted on arrival or queried | Ask for the IBAN of the USD account |
| Beneficiary name does not match | Bank queries or returns the payment | Use the registered name exactly as on the account |
| No invoice or export reference | The bank cannot link the payment to the export | Quote the invoice and declaration numbers |
| Wire sent as SHA or BEN | Supplier receives less than the invoice | Use OUR charges |
| Lira payout for a goods invoice | The supplier's bank may not be able to close the export file | Ask the supplier before choosing a lira payout |
| Payment offered in USDT or USDC | Crypto assets cannot be used in payments in Türkiye | Pay by bank transfer |
Sources: Andersen Türkiye; CMS; Halkbank; as published on 29 October 2026.
If a wire has left but not arrived, ask your bank for the UETR (Unique End-to-end Transaction Reference), the tracking code that stays the same along the whole SWIFT chain, and send it to the supplier with your payment confirmation.
Step by step: paying a supplier in Türkiye
- Agree the currency. Set TRY, USD or EUR in the supply contract, and who pays bank charges.
- Collect details once. Get the registered name, address, IBAN for the invoice currency, SWIFT code and any correspondent in writing.
- Verify by phone. Confirm the details with a known contact before the first payment and after any change.
- Choose the rail. Pay dollar invoices by SWIFT wire to the USD account; pay lira invoices as a local payout only after the supplier confirms it works for its export file.
- Check the quote. Compare the rate, fee and expected arrival before you confirm, and send dollar wires with OUR.
- Time it. Send before your provider's cut-off and away from US and Turkish holidays.
- Send proof. Share the UETR and SWIFT confirmation with the invoice number.
- Reconcile. Match the payment to the invoice and keep both for your records.
For the supplier's account options, see USD business accounts in Türkiye. If you also buy from Egypt, read how to pay suppliers in Egypt.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
What is the best way to pay a supplier in Türkiye from the US?
For dollar invoices, send a SWIFT wire to the IBAN of the supplier's USD account with OUR charges and the invoice number in the reference. For lira invoices, a local lira payout to the supplier's TRY IBAN arrives as a domestic payment, once the supplier confirms it works for its export records.
What bank details do I need to pay a Turkish supplier?
You need the supplier's registered name and address, the 26-character IBAN starting TR for the account in the invoice currency, the bank's name and SWIFT code, and any correspondent bank the supplier's bank names. Each currency account has its own IBAN.
Should I pay a Turkish supplier in lira or dollars?
Pay in the currency on the invoice. If it is in lira, you carry the exchange rate risk but the supplier receives the exact amount. If it is in dollars, the supplier sells at least 35% for lira once its bank links the proceeds to an export, under a rule extended to 31 January 2027.
How long does a Turkish exporter have to receive payment?
Proceeds from goods exports must be brought into Türkiye within 180 days of the actual export date, under the Communiqué issued under Decree No. 32. Extensions are possible for force majeure.
What is FAST in Türkiye?
FAST is the instant payment system developed and operated by the Central Bank of the Republic of Türkiye. It launched on 8 January 2021, runs 24/7, handles Turkish lira only and has a limit of 300,000 TL per transaction.
Can I pay a Turkish supplier with USDT or USDC?
No. The CBRT's Regulation on the Disuse of Crypto Assets in Payments, in force since 30 April 2021, states that crypto assets cannot be used in payments directly or indirectly. Pay by bank transfer.
Why did my Turkish supplier receive less than I sent?
Intermediary banks can deduct fees from a wire sent with SHA or BEN charges, and Turkish banks charge for incoming transfers; Halkbank's list rate is 0.5%, minimum $30, maximum $300. Sending with OUR charges makes you responsible for the transfer fees.
Are Turkish banks closed in November and December?
No public holidays are listed in Türkiye for November or December 2026, and New Year's Day on 1 January is a public holiday. US payment systems close on 11 and 26 November, 25 December and 1 January.
How do I trace a wire to Türkiye that has not arrived?
Ask your bank for the UETR, the unique tracking reference that stays with a SWIFT payment from end to end, and send it to the supplier with your payment confirmation. The supplier's bank can use it to locate the funds.
References
- Andersen Türkiye: Mevzuat Sirküleri 2026/26, export proceeds sale obligation continues (6 May 2026)
- Para Ajansı: CBRT changes conversion support; 35% sale obligation extended to 31 January 2027 (8 August 2026)
- Central Bank of the Republic of Türkiye: FAST Nedir?
- Currencies Direct: TRY transfers (Turkish lira)
- Halkbank: Dış İşlemler Bilgi Formu (foreign transactions information form)
- CMS: Turkey introduces its first regulation on crypto assets
- Wise: What currencies can I send to and from?
- Daily Sabah: 2026 official public holidays in Türkiye, month by month
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.