Wise alternatives in Turkey: 2026 guide for freelancers and sellers

Last Updated: February 2026

This guide covers what Turkish users can and cannot do with Wise, and lists the alternatives available in 2026. 

Wise stopped offering full services to Turkish residents on May 31, 2023. If you live in Turkey and need to receive international payments, Wise is no longer an option.

What happened to Wise in Turkey

Wise cited "local regulations" as the reason for restricting services. The company has not provided a timeline for when full services might return.

Turkish residents lost access to core Wise features:

• Cannot hold balances in any currency

• Cannot request new account details (USD, EUR, GBP accounts)

• Cannot receive incoming transfers to a Wise account

• Cannot convert between currencies

• Cannot open new currency wallets or savings jars

• Cannot send money to other people (only to themselves)

What still works:

• Sending money from a Turkish bank account to abroad

• Withdrawing any existing balance to a Turkish bank

For freelancers and e-commerce sellers who relied on Wise to receive payments from Upwork, Fiverr, Amazon, or Etsy, these restrictions made Wise unusable.

Wise alternatives for Turkish residents

Cenoa

Cenoa provides a US bank account to Turkish residents with full functionality.

How it works:

• Sign up and verify your identity with a Turkish ID or passport

• Receive a US bank account number and routing number

• Add these details to freelance platforms or share with clients

• Receive USD payments via ACH or wire transfer

• Convert to TRY and withdraw to your Turkish bank account

Fee structure:

• Receiving payments: 0.5%

• Converting to TRY: 0.49%

• Withdrawing to Turkish bank: Free (via FAST)

• Account opening: Free

• Monthly fees: None

• Total cost: 0.99%

For a $1,000 payment, Cenoa charges approximately $9.90. You keep $990.10.

Cenoa uses the mid-market exchange rate with no markup. Withdrawals to Turkish banks arrive within minutes via the FAST payment system.

The platform is built on Stripe infrastructure and partners with Lead Bank, an FDIC-insured US bank. Turkish Lira transactions are processed through BitBNS Turkey, which operates under SPK (Capital Markets Board) regulation.

Payoneer

Payoneer remains available in Turkey and is integrated with most freelance marketplaces.

Fee structure:

• Receiving payments: 1%

• Withdrawing to bank: 2% (same currency) or up to 3% (different currency)

• Currency conversion: Up to 4.5% markup

• Annual fee: $29.95 if you receive less than $2,000 in 12 months

• Total cost for USD to TRY: Approximately 8.5%

For a $1,000 payment converted to TRY, Payoneer charges approximately $85. You keep $915.

Payoneer works with Amazon, Etsy, Upwork, Fiverr, and most major platforms. The main drawback is the fee structure, which is significantly higher than newer alternatives.

Bank Wire Transfers (SWIFT)

You can receive international payments directly to a Turkish bank account via SWIFT transfer.

Typical costs:

• Sender fee: $25 to $50

• Intermediary bank fee: $15 to $30

• Receiving bank fee: $10 to $25

• Exchange rate markup: 1% to 3%

• Total cost: $50 to $100+ per transfer

SWIFT transfers take 2 to 5 business days. This option only makes sense for large, infrequent transfers where the fixed costs become a smaller percentage.

Western Union

Western Union allows international money transfers to Turkey.

Typical costs:

• Transfer fee: $15 to $100 depending on amount and method

• Exchange rate markup: 1% to 3%

• Total cost: Varies widely

Western Union is designed for person-to-person remittances rather than business payments. Fees are high and unpredictable. Not recommended for regular freelance income.

Fee comparison: $1,000 USD payment

What you keep after all fees when receiving $1,000 and converting to TRY:

Cenoa (0.99% total):

• Fees: $9.90

• You keep: $990.10

• TRY equivalent: Approximately 43,060 TL

Payoneer (8.5% total):

• Fees: $85

• You keep: $915

• TRY equivalent: Approximately 39,800 TL

Wise (if it worked):

• Fees: $31.42 flat + 4.5% TL conversion (according to cenoaylakazan.com)

• Total for $1,000: Approximately $45 (4.5%)

• You keep: Approximately $955

• TRY equivalent: Approximately 41,520 TL

• Note: Not available for Turkish residents to receive payments

SWIFT transfer:

• Fees: $50 to $100

• You keep: $900 to $950

• Additional delays: 2 to 5 business days

The difference between Cenoa and Payoneer is $75.10 per $1,000. For a freelancer earning $2,000 per month, that adds up to $1,802 per year.

Note: Wise charges $31.42 flat plus 4.5% TL conversion, making it more expensive than Cenoa even if it were available to Turkish residents.

Fee comparison: $5,000 USD payment

Cenoa (0.99% total):

• Fees: $49.50

• You keep: $4,950.50

Payoneer (8.5% total):

• Fees: $425

• You keep: $4,575

SWIFT transfer:

• Fees: $50 to $100

• You keep: $4,900 to $4,950

At higher amounts, the percentage-based fee difference becomes more significant. Switching from Payoneer to Cenoa on a $5,000 transfer saves $375.50.

Which platforms work with each service

Cenoa (US bank account):

• Amazon Seller Central

• Etsy Payments

• Upwork

• Fiverr

• Shopify Payments

• Any client paying via ACH or US wire transfer

Payoneer:

• Amazon

• Etsy

• Upwork

• Fiverr

• Airbnb

• Most major marketplaces

SWIFT:

• Direct client payments

• B2B transactions

• Any sender with international wire capability

How to switch from Wise or Payoneer

If you previously used Wise or currently use Payoneer:

1. Create a Cenoa account at cenoa.com

2. Complete identity verification with your Turkish ID or passport

3. Receive your US bank account details (account number and routing number)

4. Update payment settings on Upwork, Fiverr, Etsy, Amazon, or other platforms

5. New payments will be deposited to your Cenoa account

6. Withdraw existing Payoneer balance before switching if needed

The switch takes approximately 10 to 15 minutes. New platform payments typically start arriving within one payment cycle.

Frequently asked questions

Will Wise return to Turkiye?

Wise has not provided a timeline. Their help page states: "We don't have a timeline at the moment, but we'll let you know once the account details are available in Turkiye again."

Can I use Wise if I have a foreign address?

If you relocate to another country and update your Wise address, you can regain full functionality. Wise requires proof of address in the new country.

Is Cenoa available for Turkish residents?

Yes. Cenoa specifically serves Turkish residents and provides full US bank account functionality with no restrictions.

How long do Cenoa withdrawals take?

Withdrawals to Turkish bank accounts arrive within minutes via the FAST payment system. No waiting period applies.

Do I need a business to use Cenoa?

No. Individual freelancers can open personal accounts. Business accounts are also available.

What exchange rate does Cenoa use?

Cenoa uses the mid-market exchange rate with no markup. The only cost is the 0.49% conversion fee.

Conclusion

Wise stopped serving Turkish residents in 2023. The main alternatives are:

• Cenoa: 0.99% total fees, full US bank account, fastest option

• Payoneer: 8.5% total fees, established but expensive

• SWIFT: High fixed costs, only practical for large transfers

For a freelancer earning $2,000 per month, switching from Payoneer to Cenoa saves approximately $1,800 per year.

Sign up for Cenoa to start receiving international payments with lower fees.