Author Topic: two signatures now required for Bank cash withdrawal joint accounts  (Read 9259 times)

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Offline Sleuth

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 Some people on turkish social media outlets  are now saying that the Turkish  Banks are now asking for two signatures  for cash withdrawals from joint deposi accounts and not just one ?  A new law introduced these last couple of weeks with some banks, and the rest will follow ....  anyone know if this is a fact ? 
A lot of people wont be happy with this  should this be the case .

Offline KKOB

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Has a bank actually announced it ?

Offline Sleuth

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I am only quoting from two seperate posts  on a social media outlet .... one persons account was with yapi kredi.... apparantly they are introducing it for `security` reasons,  and all the other banks will be doing likewise ...
not good news for joint account holders if one partner dies....  account then gets frozen  :-(

Offline Colwyn

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If true, it would rather defeat the point of having a joint account rather than two singles.

Offline KKOB

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not good news for joint account holders if one partner dies....  account then gets frozen  :-(

That's always been the case.

Offline Sleuth

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Yes that's always been the case, but when it was only one person to sign for cash withdrawals, the account was still active as the Banks on many occasions  were not informed about the death of the other joint holder.and the remaning partner could still use the account.  with two signatures needed that's blown that  way round of solving that problem 

Offline Sleuth

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Many ex pats here think its like the uk where with a joint account, if one partner dies the other partner automatically takes full control of the account. In turkey its different, the government takes over and it could be years whilst its all sorted, and other members of family are considered, as well as the turkish government taking a cut.

Offline Jacqui Harvey

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What happens if the account is in just one partner's name and the partner dies?  Is the account also frozen?, if so, it is a Catch22 situation.  :o :-\

Offline KKOB

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Just make sure you get Phil to sign a couple of withdrawal slips before you bump him off.  ;)

Offline Diverbaz 1

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So will you both have to put your pin number in the ATM  ;D




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