Can You Use Payoneer in Türkiye? - UK Guide

If your business is planning to trade overseas or expand globally, you’re going to need an international payments solution.

One option you’re likely to come across is Payoneer, the US financial services company. It offers accounts, money transfer services and a range of other payment services for businesses worldwide.

But does it work absolutely everywhere? In this guide, we’ll take a look at whether you can use Payoneer in Türkiye as a UK business.

This will be useful to know if your company is looking to sell in Türkiye, employ staff there or perhaps even open a branch there in the future.

Remember though that Payoneer isn’t the only option for global businesses. Wise Business is a fantastic alternative, offering a full-feature account, cards, invoicing, bulk payments and secure transfer services to Türkiye and worldwide.

💡 Learn more about Wise Business

Can you use Payoneer in Turkey?

Yes, you can use Payoneer to send money to Türkiye, even if your business is registered in the UK. You can also receive payments from clients and customers based in Türkiye.¹

The Payoneer card works wherever Mastercard is accepted, so you can use it for spending in Türkiye.² This could be useful if you’re visiting the country on a business trip and have expenses to cover.

The only drawback is that at present, the Payoneer card only supports spending in four major currencies - USD, EUR, GBP and CAD.² This means you can’t spend directly in Turkish lira, and a currency conversion will need to be involved (which may mean additional fees).

Read more: Importing from Türkiye to the UK: Complete Business Guide

Is the Turkish lira supported by Payoneer?

Yes, Payoneer supports Turkish lira for sending money. This means you can send money in Turkish lira (TRY) to Turkey. However, you can’t hold a balance in TRY in your Payoneer account.

This also means that any money sent to you in Turkish lira may need to undergo a currency conversion in order to match one of your currency balances. And this may incur an additional fee.³

As we’ve mentioned already, you can use your Payoneer Mastercard in Türkiye but you can’t directly in TRY. The card only supports USD, EUR, GBP and CAD, so you’ll be spending in one of those currencies and again, a currency conversion will be required.²

Payoneer fees and cost in Türkiye

Pricing will always be a key concern when choosing a global payments provider for your business.

So how much does it cost to use Payoneer in Türkiye as a UK business?

Let’s run through the main fees for sending, receiving, converting and spending:⁴

Can you open an account with Payoneer in Türkiye?

If you’re considering opening a branch of your business in Turkey, you might find it useful (perhaps even essential) to have some kind of local account. But is this possible with Payoneer?

The good news is that you can open a Payoneer sending account in Turkey if you register your business there.⁵

To apply, you’ll need to provide all required details and documents for your business, as well as proof of ID and address. To find out the exact requirements for opening a Payoneer account in Turkey, you’ll need to contact the company’s customer services team.

Wise Business: an alternative to Payoneer in Türkiye

While you’re researching ways to manage business funds between the UK and Türkiye, make sure you check out Wise Business.

It’s a great alternative to Payoneer and simply tailor-made for global businesses, as well as freelancers working with clients based all over the world.

Open a Wise Business account and you can hold and exchange 40+ currencies at once, including Turkish lira (TRY).

You can send payments to 140+ countries worldwide, including Turkey. And you can even get local account details to receive payments in TRY for free.

What’s more, you can use your Wise Business account to get paid by customers and clients through online marketplaces - and via payment service providers (PSPs) like Stripe.

Whenever you need to send, spend or exchange foreign currencies, you’ll benefit from the mid-market exchange rate, with low, transparent fees.

You’ll also benefit from all of these features with Wise Business:

• No ongoing fees, minimum balance requirements or foreign transaction fees
• Debit and expense cards for you and your team, which you can use in 150+ including Türkiye
• Multi-user access for team members, with ways to control and manage permissions
• Pay up to 1,000 people at once with the Wise batch payments feature
• Integrate with your favourite cloud accounting solutions, and use the Wise API for automation and streamlining workflow
• Use the Wise Interest feature to make your money work harder when you’re not using it.

With the help of a truly global account, your business can grow into Türkiye, the Middle East and beyond.

Wise Business vs Payoneer in Türkiye comparison

Finally, let’s do a quick comparison of what Wise Business and Payoneer each have to offer for UK businesses trading with Türkiye:

Get started with Wise Business 🚀

So can you use Payoneer in Turkey? Absolutely, but there are some limitations. It’s great that you can send money in Turkish lira (TRY) with Payoneer, but you can’t currently hold a balance in TRY or spend directly in the currency with your card.

If you need a wider range of multi-currency payment services, make sure to shop around and compare all available providers.

When it comes to global payment solutions, it’s crucial to get the right fit for your business.

Sources used:

Sources last checked on date: 19-Feb-2025