Calis Beach and Fethiye Turkey Discussion Forum
Information and Services in Turkey Section => Banks, Interest, Money Transfers, Insurance => Topic started by: patch on July 22, 2014, 20:57:51 PM
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If you have a 32 day account with finans and want to withdraw approx 10,000 ytl , will you just be able to go in the bank and withdraw it on any day or will you need to make an appointment ? thanks
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Just go in on your due date... Its only a problem if you need to withdraw it in sterling in large amounts then you would need to order it..
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Shouldn't need an appointment - but you'll need to close the Time Deposit Account (assuming thats what you mean by 32 day account) and put the funds back into your current account, and its from there you'll withdraw the cash. You'll also lose any interest due on the TDA if you go in before the due date.
JF
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why do i need to close the account as i only want to withdraw some money ? what happens to whats left in the term deposit account , do i open another term deposit account with whats left ? thanks
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That is how the account works, if you wish to withdraw money on any other day than the interest day,
you have to close and re-open it. As pointed out, interest will be lost, unless you can wait till your next
interest day. These details i'm sure would have been pointed out to you when you opened it, esp if it
was with the helpful staff at the main Fethiye branch.
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the money i wanted to withdraw was for some work im having done on my house , so if the builder agrees , would it be possible to transfer the money to his account on my due date , so i wouldnt need to close and re-open my account and i wouldnt loose the months interest . if this is possible what information regarding his account would i need to transfer this online . thanks
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You will still need to close the TDA, transfer the money into a current account, then start a new TDA with the balance remaining after taking the 10k out.
I wouldn't go down the bank transfer route because, 1) it's not like in the UK and it could take days to reach the builders account, 2) your (or even both) bank(s) will make a hefty charge for the transaction.
You might be better off asking the builder to delay work until you are in a position to withdraw the cash. 8)
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The builder is in the same bank and branch as me .Would it still take days to transfer and would there still be a charge .thanks
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Days probably, charge, most likely.
Why not just go there with the builder and hand it over to him in the bank?
At least there's less change of losing it! 8)
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The builder is in the same bank and branch as me .Would it still take days to transfer and would there still be a charge .thanks
Depends on the bank, and the type of transfer you do. With FinansBank its immediate and last one I did it was 30tl to send.
JF
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we are both with finans , but the only dates i can go arent on the date when interest is paid , so would have to mess about closing and opening account and would also loose the months interest , so if its only 30 ytl for the transfer , that may be best option . thanks
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If it's only 30tl then do it that way.
A couple of years ago TEB were going to charge me over 200tl to make a transfer to ING.
Needless to say, I declined and withdrew the cash. 8)
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If you set up a wire transfer (on your interest due date) with Finans there is no charge to transfer your money online assuming you have internet banking. The amount will be in the other account with Finans within minutes.
I regularly make payments to "other banks" with Finans and there is no charge for this either, also there within minutes.
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PS if your interest due date falls on a weekend or a Turkish bank holiday then your interest day is the first working day after the weekend.
Also unlike UK banks, wire transfer transactions have to be done during banking hours.
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If you set up a wire transfer (on your interest due date) with Finans there is no charge to transfer your money online assuming you have internet banking.
You're totally correct. The 30tl I quoted was for a SWIFT (as opposed to a wire) transfer - which is still a bargain compared to how much UK banks charge for them!
JF
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thanks for that , i have internet banking , would it be easy to set up a wire transfer on the finans site , what details would i need off the builder to be able to send the money on the due date . thanks
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Yep, very easy, you just need the builders bank name, branch sort code and bank account number.
The builders name as on their account and the amount due.
At Finans there is an automated system when setting up the transfer taking you through the process, so you choose the city (Muğla for here) then Fethiye if that is where the branch is and then the system will give you the sort code.
You get the option to save the name and details for future use which is handy.
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thanks very much for your help Nichola , i have looked on finans and think i can do it , just one question to make the wire transfer , do i use the " new money transfer standing order " ? as thats the only option i can see to send money . There is nothing saying wire transfer . and will the amount only be taken out once as sometimes when you set a standing order up in the uk , it comes out every month . thanks