Sending Regular Money to a Student in Europe

If a child or relative of yours is studying in a European country such as Germany or the Netherlands, sending them money regularly every month is a concrete concern for most families. The real question here is not the sending itself, but by what route, with what deductions and in how long the money will reach the student. There are two separate directions, and their cost dynamics differ: (a) the family in Turkey → the student in Europe, (b) the student in Europe → Turkey. In both, because Turkey is not in SEPA, the transfer flows as SWIFT, not SEPA.

Why is this a SWIFT matter, not a SEPA one?

SEPA (Single Euro Payments Area) is a system that processes euro-denominated payments between accounts in participating countries as if they were a single local payment. Turkey is not an official member of this network (it is at application/candidate stage), so a transfer from a Turkish account to an account in Europe (or vice versa) does not flow as SEPA; it goes as an international transfer, i.e. SWIFT. This distinction has three practical consequences:

• Currency conversion comes into play: The account in Turkey is usually in TRY; during conversion into euros, the difference between the bank rate and the market rate (the exchange-rate margin) creates a cost.
• Fixed and/or proportional fees: On a SWIFT transfer the sending bank applies a charge; this charge varies by plan and weighs proportionally heavier on small amounts.
• Intermediary bank deduction is possible: The correspondent banks in the SWIFT chain may make deductions that are not clearly visible in advance; the amount the student receives may be less than expected.

SEPA comes into play only when the student is within Europe — for example, when paying rent from their local account in the country of study or receiving money from another EU/EEA account. The step between Turkey and Europe is always outside SEPA.

Three scenarios: where, and with what deductions, does the money flow?

The table below compares three typical situations qualitatively. Figures are deliberately not given; fees vary by bank, plan, country and period and should only be verified as current from the relevant bank.

As shown, in both directions involving Turkey the method is SWIFT and the main cost is the exchange-rate margin. SEPA's cheap and fast advantage arises only in the student's movements within Europe.

Making a regular transfer cheaper: practical tips

On a transfer that recurs every month, the total cost is managed differently from a one-off transfer. A few approaches stand out:

• Same day, one bulk transfer: Because the fixed fee recurs on every transfer, where possible a single large transfer per month is usually more economical than frequent, small transfers. Balance this against the student's cash flow.
• Measure the exchange-rate margin, don't look only at the fee: A bank saying "the fee is low" does not show the whole cost; the real difference is hidden in the applied EUR/TRY rate. Compare the market (reference) rate with the bank rate. With the SEPA Route & Cost Calculator you can see the method and the estimated total cost in advance.
• Get the student a local IBAN in Europe: The student having a bank account and local IBAN in the country of study lets them make cheap and fast payments there via SEPA (rent, bills, receiving money within the EU). This allows the family to send the SWIFT amount from Turkey less frequently, in larger tranches.
• Target the net amount the recipient receives: What matters is not "how much I sent" but "how much reached the student". In case of a possible intermediary bank deduction, confirm the received amount with the student.

The EU equal-charges principle: who does it cover, who doesn't it?

European Union regulation provides a certain equal-charges principle on cross-border euro payments: a cross-border euro payment from a euro account in one EU/EEA country to a euro account in another EU/EEA country is subject to the same charge as the same bank's domestic euro payment. If the student holds a local euro account in Europe, this protection is useful for their payments within Europe.

But there is a critical limit here: this principle is valid only between euro accounts within the EU/EEA. Because Turkey is not an EU/EEA member and is not in the SEPA network, money sent from an account in Turkey or reaching an account in Turkey is outside the scope of this equal-charges protection. So although the fact that "euro payments within Europe are cheap" is true, do not generalise it directly to the Turkey–Europe route.

Should the family hold a euro or TRY account in Turkey?

The student having a SEPA account in Europe also influences the family's account choice on the Turkey side. If the family holds a euro account in Turkey, they can do the TRY → EUR conversion at a moment of their choosing under the rate conditions they prefer and accumulate euros, and no additional conversion margin arises on the day of sending; by contrast, when sending from a TRY account the conversion is done on every transfer, at that day's bank rate. Which is suitable depends on the rate outlook, account plan fees and regulation; there is no "always cheaper" option. The euro account or TRY account? page addresses this decision in detail.

Verification and warnings

No concrete figure has been given for any of the amounts on this page; because fees and applied rates vary by bank, account plan, country regulation and period. Generalisations such as "SEPA is free" or "every bank in a SEPA country supports SEPA" are not correct; a bank participating in the scheme does not mean the service is offered to every customer on the same terms. Before setting up any regular sending plan, verify current fees and the rate directly from the relevant banks. For your tax and foreign-currency legislation obligations, consult a qualified financial advisor; what is written here is for information only and does not constitute payment, tax or legal advice.

Summary

When sending regular money to a student studying in Europe, both directions involving Turkey (from the family to the student and from the student to Turkey) flow as SWIFT, not SEPA, because Turkey is not an official member of the network. On small and recurring amounts, the real cost is the total of the fixed fee and the TRY–EUR exchange-rate margin. To lower the cost, send in bulk and infrequently, look at the applied rate rather than only the fee, get the student a local IBAN in Europe, and make the family's euro/TRY account choice consciously. The EU equal-charges principle provides cheapness only between euro accounts in Europe; Turkey is not within this scope. Before setting up your plan, see the method and the estimated total with the cost calculator, and confirm current fees with your bank.