Sending business payments from the US to Türkiye
A US company pays a Turkish supplier by SWIFT wire to the IBAN of the supplier's account in the invoice currency, usually US dollars or euros, or in lira through a provider that pays a lira IBAN locally. A Turkish company's dollar account has its own 26-character IBAN, separate from its lira account, so match the IBAN to the invoice currency. This guide covers the details to collect, the export rules, rails, documents and fees.
- A Turkish IBAN has 26 characters: TR, two check digits, a five-digit bank code, a reserved digit and a 16-character account number.
- 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, as reported by Para Ajansı.
- FAST, the CBRT's instant payment system, runs 24/7 for lira only, with a limit of 300,000 TL per transaction.
- Halkbank's list rate for an incoming transfer from abroad is 0.5%, with a minimum of $30 and a maximum of $300, plus 5% BSMV.
Details to collect from your recipient in Türkiye
Every Turkish account has an IBAN, the International Bank Account Number used to identify accounts across borders. Each currency account has its own IBAN, so ask for the one that matches the invoice currency and check that the five-digit bank code inside it belongs to the bank the supplier named.
| Detail | What to ask for | Why it matters |
|---|---|---|
| Beneficiary name | The supplier's registered name, exactly as on the account | A trade name or abbreviation can be queried |
| IBAN of the account in the invoice currency | 26 characters starting TR, written without spaces | The lira IBAN on a dollar wire leads to conversion or a query |
| Bank name and SWIFT code | 8 or 11 characters, head office code | Routes the wire |
| Intermediary bank | The US correspondent the bank names, if any | Some banks require it on dollar wires |
| Invoice and export declaration numbers | 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, from its invoice | Lets you match the account to the invoicing company |
Sources: Currencies Direct, TRY transfers; Andersen Türkiye; field list compiled by the Helm Editorial Team. As published on 29 October 2026.
USD or lira: what Türkiye's export rules mean for your payment
For a Turkish exporter of goods, dollars come with two rules. Proceeds must come home within a deadline, and when a Turkish bank records them on an İBKB (İhracat Bedeli Kabul Belgesi, the export proceeds acceptance certificate), part must be sold for lira. The central bank is the Central Bank of the Republic of Türkiye (CBRT). The US dollar to lira page covers the currency.
| Rule | What it says | What it means for your payment |
|---|---|---|
| Deadline | Goods export proceeds within 180 days of the actual export date | Pay on the agreed term; a late payment eats the supplier's window |
| Sale for lira | At least 35% of proceeds linked to an İBKB sold to the bank, extended to 31 January 2027 | The supplier keeps the rest in dollars |
| Lira invoices | Export rules are written around foreign currency recorded on an İBKB | Ask the supplier before paying a goods invoice in lira |
| Crypto assets | The CBRT regulation in force since 30 April 2021 bars their use in payments, directly or indirectly | Do not pay in USDT or USDC |
Sources: Andersen Türkiye, 6 May 2026; Para Ajansı report of the CBRT decision, 8 August 2026; CMS on the CBRT crypto asset regulation. As published on 29 October 2026.
Software and other service exporters follow a separate CBRT circular on invisible transactions, so let them tell you which currency they need. The supplier-side guide is how to pay suppliers in Türkiye.
Rails and arrival times: SWIFT, lira payouts and FAST
A dollar wire settles in the United States on Fedwire, which opens at 9:00 p.m. ET on the previous calendar day, takes customer transfers until 6:45 p.m. ET and closes at 7:00 p.m. ET, Monday to Friday. Istanbul is 7 hours ahead of New York in the US summer and 8 hours ahead in the US winter, so there is a short morning overlap in which a wire can reach a Turkish bank the same day.
| Route | What the recipient receives | Timing, as published | Notes |
|---|---|---|---|
| SWIFT wire in USD to the dollar IBAN | US dollars, linked to the İBKB | Credited on a Turkish business day | Standard route for goods exports |
| SWIFT wire in EUR to the euro IBAN | Euros | Credited on a Turkish business day | Common for buyers in Europe |
| Lira payout through a provider | Lira | Currencies Direct states same working day if it receives the payment by 09:15 | Paid to a lira IBAN |
| FAST (inside Türkiye) | Lira | 24/7, instant | Up to 300,000 TL per transaction; EFT handles larger amounts |
Sources: CBRT, FAST; Currencies Direct, TRY transfers; Federal Reserve Financial Services, Fedwire operating hours. As published on 29 October 2026.
Documents, screening and why payments to Türkiye are held
The supplier's bank links your payment to the export through the invoice and customs declaration and issues the İBKB, so put both numbers in the payment details. A short payment also shows on the İBKB as less than the invoice. Treat any change of bank details as a fraud risk and confirm it by phone.
Screen before you pay: OFAC's guidance is that every US person, US-incorporated companies and their foreign branches included, must comply with US sanctions, so check the recipient and its bank against OFAC's lists before the first payment (OFAC FAQ 11).
| 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 | Queried or returned | Use the registered name exactly |
| No invoice or export reference | The bank cannot link the payment to the export | Quote the invoice and declaration numbers |
| Lira payout for a goods invoice | The supplier's bank may not be able to close the export file | Ask the supplier first |
| Wire sent as SHA | Arrives short and the İBKB shows less than the invoice | Use OUR charges |
Sources: Andersen Türkiye; CMS; Halkbank information form. As published on 29 October 2026.
Costs: SHA, OUR and Helm's fees for payments to Türkiye
At Halkbank's list rate, a $20,000 incoming wire costs the supplier $100 plus 5% banking and insurance transactions tax (BSMV), and a $100,000 wire $300 plus BSMV, because the cap applies. Correspondent charges come on top on a SHA wire. With OUR you pay the bank charges in the chain, so the full amount reaches the supplier. For the supplier's account options, see USD business accounts in Türkiye.
From a Helm account you can send international supplier payments by SWIFT and by local rails in the recipient's currency where available, confirmed by your account manager, with the rate, fee and expected arrival shown before you confirm. Helm is a financial technology company, not a bank; US dollar account services are provided by Bridge Building, Inc. (NMLS ID 2450917), a licensed money transmitter, with funds held at Lead Bank.
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. See how Helm pricing works.
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USD, EUR and GBP accounts in your company's name, with a named account manager.
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How do I send a business payment from the US to Türkiye?
For a dollar invoice, send a SWIFT wire to the IBAN of the supplier's USD account with OUR charges and the invoice number. For a lira invoice, use a provider that pays a lira IBAN locally, once the supplier confirms it works for its export records.
What is a Turkish IBAN?
A Turkish IBAN has 26 characters: TR, two check digits, a five-digit bank code, a reserved digit and a 16-character account number. Each currency account has its own IBAN.
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.
Does a Turkish supplier have to sell my dollars?
At least 35% of export proceeds linked to an İBKB must be sold to the bank for lira, a rule the CBRT has extended to 31 January 2027. The rest can stay in dollars.
Can I pay a Turkish supplier in USDT?
No. The CBRT regulation in force since 30 April 2021 states that crypto assets cannot be used in payments directly or indirectly. Pay by bank transfer.
What does Helm charge to send money to Türkiye?
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment.
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
- Federal Reserve Financial Services: Fedwire Funds Service operating hours
- Office of Foreign Assets Control: FAQ 11, Who must comply with OFAC sanctions?
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.