Receive local wire transfers in TRY (Turkey)
Overview
Learn how to process Turkish lira payments in Smartcat, including supported currencies, commissions, minimum payout amounts, and the beneficiary details you need to provide.
Supported currencies
Turkish lira (TRY)
📌 If the currency of your balance in Smartcat is different from TRY, the funds are converted to TRY at the Smartcat exchange rate on the day of the payment.
Commission
5 USD + 0.5% of the withdrawal amount. The fee is converted into the payout currency at the time of the transaction.
You can view a list of companies that reimburse your commission in the My Payouts section. Click the Details button on your payout method.
Minimum payout amount
TRY 1,000
Smartcat lets you set the minimum amount at which a payment is sent to you. You can learn more in the Minimum payout amount article.
Required details
| Field | Individual | Company | Description |
|---|---|---|---|
| Beneficiary type | ✓ | ✓ | Individual or company beneficiary |
| Beneficiary first name | ✓ | ✕ | Name of the individual beneficiary |
| Beneficiary last name | ✓ | ✕ | Last name of the individual beneficiary |
| Birth date | ✓ | ✕ | Beneficiary's birth date |
| Beneficiary company name | ✕ | ✓ | Beneficiary's company legal name |
| SWIFT | ✓ | ✓ | 8-11-digit code identifying the country, city, bank, and bank branch of the beneficiary |
| Recipient's IBAN | ✓ | ✓ | The beneficiary's international bank account number, up to 34 characters long (including numbers and letters) |
| Recipient's country | ✓ | ✓ | Beneficiary's country |
| Recipient's city of residence | ✓ | ✓ | City or town from the beneficiary's address |
| Recipient's address | ✓ | ✓ | Beneficiary's address, including building number or name |
| Recipient's postal code | ✓ | ✓ | Beneficiary's postal code |
| Document type | ✓ | ✓ | Identity document: identification (ID) card, passport, or driving license |
| Number | ✓ | ✓ | Identification document number |
| Issuing country | ✓ | ✓ | Country that issued the identity document |
| Issue date | ✓ | ✓ | Date of issue of the identity document |
| Expiration date | ✓ | ✓ | The date of expiration of the identity document |
FAQs
I chose this method, but the payment was rejected. Why?
Here are some steps to take if your payment was rejected.
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Make sure you have provided payment details for a local wire transfer
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Make sure that the postal code, city, street, and house number are specified in the corresponding fields of the details. Make sure that you do not enter a PO box or email address instead of your residential address
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Double-check that the specified IBAN details are correct
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Make sure that the name of the account holder is entered in the details exactly as it is in the bank details, including all spaces and symbols
I cannot find the payment. What does the payment look like on the bank statement?
The purpose of the payment indicates the payment ID in the format PO-XXXXXX-XXXXX, which you can find in the Payout History section.
SMARTCAT EUROPE B.V. or THE CURRENCY CLOUD LIMITED is displayed as the sender, depending on the beneficiary's bank.
For which countries is this method available?
The method is available exclusively for receiving funds to a Turkish bank account.
I received a payout from Smartcat. I need to invoice for this payment. What details should be used for issuing such invoices?
When receiving funds by local bank transfer in TRY, enter the following Smartcat details in your account:
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Full name: Smartcat Europe BV
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Legal address: Strawinskylaan 903, 1077 XX Amsterdam, the Netherlands
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VAT no.: NL859832880B01
Still need help?
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