What is the
best Send Money conversion rate for USD to TRY?
As exchange rates can vary
significantly between banks and also between currency exchange providers,
it's therefore important to carefully compare
US dollar (USD) to Turkish lira (TRY) rates from different sources before making a conversion.
The above
ANZ Bank - Dollar to Lira comparison table
makes it easy to compare the Total Fees (both variable and fixed) you are being charged by
ANZ Bank and other foreign exchange providers against the latest USD-TRY mid-rate and the possible savings of using various providers.
How do ANZ Bank USD-TRY rates compare between providers?
The next best is XE at 40.92, -0.58% from the mid-rate.
Then Wise at 40.9, which is -0.63% from the mid-rate.
The Western Union rate is 40.75 which is -1% from the mid-rate.
Among the banks the Chase Bank rate is 38.1 at -7.4% the Wells Fargo Bank rate is 37.86 at -8% and the Citibank rate is 39.75 at -3.4% compared to the mid-rate 41.16.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally,
banks like ANZ Bank often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate.
For more competitive rates, you might consider using a specialized currency exchange service
or platforms that offer rates closer to the mid-market rate.