How to calculate taxes on foreign payments?
If for some reason the bank's rate on that day was higher than the Central Bank's rate (the rarest
case), the "service" received is also taxed. It is easier to follow this point than to deal with
additional calculations.
What information do I need to transfer money?
You will typically need:
Recipient's name and surname
Country and city of receipt
Transfer amount
Currency of receipt (if different from the sending currency)
For some services, the recipient's phone number or email address may be required
When sending money from Turkey to Korea, you can typically pay using a bank card issued in Turkey, a bank account transfer, or cash at a local agent location. The available payment methods may vary depending on the service you choose to transfer money to Korea.
Yes, many international money transfer services allow you to send money from Turkey directly to a bank account in Korea. You will usually need the recipient’s full name, bank name, IBAN, and sometimes the SWIFT/BIC code for Korea banks.
Will the recipient in Korea need identification to receive money from Turkey?
Yes. If you're sending money from Turkey to Korea for cash pickup, the recipient in Korea must show a valid ID and sometimes the transaction number. This helps ensure that money sent from Turkey is securely delivered in Korea.
