Author Topic: Time accounts  (Read 3506 times)

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Offline charlste

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Time accounts
« on: December 21, 2018, 16:42:31 PM »
I am asking this for a friend  of mine.
He as 2 time accounts getting interest every month with Garanti bank.
He is wanting to draw the money out but when he goes into internet banking it will only let him draw out his original investment and not the interest he as accumalated.
Can anyone explain how it works please.



Offline davybill

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Re: Time accounts
« Reply #1 on: December 22, 2018, 08:07:35 AM »
I draw my interest with Seker bank,and Teb when i want it.

Offline Liz 101

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Re: Time accounts
« Reply #2 on: December 22, 2018, 09:42:17 AM »
I've arranged with Garanti that my interest is paid into a current account. I can then access the cash in the current account whenever I like

Offline charlste

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Re: Time accounts
« Reply #3 on: December 22, 2018, 16:10:30 PM »
When can the capital be withdrawn?
Is it on the anniversary?

Offline charlste

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Re: Time accounts
« Reply #4 on: January 03, 2019, 18:25:29 PM »
Does anybody know what BSMV transaction is on a garanti bank account.
Also my friend as been withdrawing sterling in the uk from his lira account and as been charged quite a lot of commission.
Anybody know what percentage they charge.
He as emailed his garanti bank but not got a reply.

Offline nichola

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Re: Time accounts
« Reply #5 on: January 04, 2019, 04:34:08 AM »
When can the capital be withdrawn?
Is it on the anniversary?

Yes, on whatever the due date is each month that the interest is paid and added to the account.

Offline nichola

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Re: Time accounts
« Reply #6 on: January 04, 2019, 04:38:29 AM »
There have been a lot of changes at Garanti bank from what I've read elsewhere.

Apparently they no longer have personal account managers in branch and have moved to a centralized call center type service which might be why your friend isn't getting any replies depending on who they are emailing.


Offline nichola

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Re: Time accounts
« Reply #7 on: January 04, 2019, 10:58:28 AM »
Also, does your friend know that however much he wants to withdraw from a time deposit account must first be transferred to their daily/current account with the same bank.

Once the money is transferred it should be possible to then transfer to another bank including an account overseas.

Worth mentioning that some banks impose limits on how much can be withdrawn or transferred in a day, even online, and that permissions tend to be blocked until you tell them to lift or raise them.

For example when I had an account with ING they had a limit of 5000 that could be transferred to another bank.

The banks here tend to do the same with bank cards, permission to use a credit card to buy online needs to be authorized by you, usually in branch, it isn't necessarily automatic.

And of course Debit Cards can't be used in Turkey for online shopping, in case anyone new to the intricacies of Turkish banking is reading.
 

Offline charlste

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Re: Time accounts
« Reply #8 on: January 04, 2019, 16:44:23 PM »
Thanks Nichola for the info.
He as moved some money today from a time account to his current account.
He tried today to move lira from his current account to his uk account using iban number but it wouldnt let him.
We know he can do it from his gbp account.
Does he have to first transfer from current account to gbp account?

Offline nichola

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Re: Time accounts
« Reply #9 on: January 04, 2019, 22:52:47 PM »
I don't know, sorry. I've never managed a successful transaction using just my IBAN number but that was probably just me and it was a long time ago when I tried.

However, if he knows that he can transfer from his GBP account it makes sense to change and move the lira to the £ account and do it that way. The exchange rate will probably be more favourable than a transfer that allows the transferring and receiving banks to set the rate of exchange plus whatever else they charge on top.




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