Author Topic: where do you put your money?  (Read 2159 times)

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Offline BernieTeyze

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where do you put your money?
« on: December 27, 2013, 07:18:10 AM »
We move over in January. We have a £ and TL account with Deniz bank. Should we move all of our capital
To a Turkish bank or keep a UK account? We will have occupational pension paid in monthly too.
Any advice would be appreciated. We pay for house tomorrow,hopefully will stay at 3.50 until then.
Thanks Bernie.  :)



Offline LeeGlo

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Re: where do you put your money?
« Reply #1 on: December 27, 2013, 10:32:12 AM »
Personally I would keep a UK account as well, never keep all your eggs in one basket.

We opened a Nationwide Flex account a few months before we came here and also an off-shore account. We have credit cards and debit cards with Nationwide, so we can draw sterling here free of charge.

Our pensions are paid to the off shore account from which we can move money back to Nationwide as and when needed. All our UK accounts are registered to our Turkish address and we have had no trouble receiving new cards.

Wishing you all the best for your move.

Offline quackers

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Re: where do you put your money?
« Reply #2 on: December 27, 2013, 11:13:34 AM »
Same here Natıonwıde (dont thınks they do flex account wıth free wıthdrawls anymore) and Fınans.Pensıons ın Natıonwıde no problem gettıng new cards.

Offline mercury

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Re: where do you put your money?
« Reply #3 on: December 27, 2013, 11:53:37 AM »
You can still draw sterling in Turkey free on a flex account and then change over there..

Offline usedbustickets

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Re: where do you put your money?
« Reply #4 on: December 27, 2013, 12:08:52 PM »
I'd certainly not recommend putting anything but day to day money into Turkish Lira at the moment.  You need to see how both the economic and political issues settle over the coming weeks/months, with the resultant impact on the Turkish lira, which this morning has nearly reached 3.6 to the £.  The fall in the Lira is obviously to your advantage, but I suspect that it will continue to fall until interest rates in Turkey are increased, which then becomes a further advantage to you once you do bring money across.  So all good for you as I can see, but don't rush it, you could miss out on further economic advantage.

Good advice too from LeeGlo on putting all your eggs into one basket, in particular all into one currency, especially the TL.

Banking if you have enough savings to become an HSBC Premier Customer, you should look at opening one.  Very good for all your banking needs, both in Turkey and the UK, and most of the services are free, including transfers between the accounts in different countries.  Some times HSBC savings rates are not as high as other Turkish banks, although not enough, I believe, to outweigh the banking benefits.
« Last Edit: December 27, 2013, 16:14:19 PM by usedbustickets »

Offline stoop

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Re: where do you put your money?
« Reply #5 on: December 27, 2013, 12:58:06 PM »
I wouldn't touch the TL with a barge pole right now if I was living there. Too risky. Something tells me it will continue to fall against the strong £.

Great for us holidaymakers though.

Offline milliemars

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Re: where do you put your money?
« Reply #6 on: December 29, 2013, 17:15:22 PM »
You can get interest on a times sterling account here of between 2 and 2.5% as a much the same system as tl monthly account but interest not as good of course.




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