Calis Beach and Fethiye Turkey Discussion Forum
Property For Sale in Calis Beach & Turkey => Moving To Turkey => Topic started by: BernieTeyze on July 16, 2016, 20:31:55 PM
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With everything that's going on, is it a good idea to move to Turkey? Advice Appreciated? ???
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Would moving to Nice been a good ides last Wednesday :(
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Would moving to Nice been a good ides last Wednesday :(
"idea"
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Shall I rephrase it then. Is moving to Ovacik in Turkey a good idea. Is there likely to be any repercussions or repeats of today in the Ovacik Fethiye area.
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Bernie, you die if you worry, you die if you don't. If you have plans, go with your gut instinct. I believe what's for you won't go by you.
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Are you going to buy or rent? Are you going to keep a bolthole in the UK?
If youre planning to rent and yes to second question then take a chance.
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The repercussions now are that it will get an increasingly authoritarian when the constitution changes which will now be sooner rather than later.
Theres every chance of a civil war.
My dad keeps telling me to get out while I can and sadly I think he could be right.
For the first time yesterday I felt like I don't want to be here.
Never ever thought that would happen.
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We were also thinking of moving to calis but leaving it a year or so to see how things settle in turkey
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Rent something and keep a place in the UK and there is not much to worry about.
Oh, and don't put your savings in a Turkish Lira account.
It's going to be interesting to see tomorrow morning what has happened to the currency rates.
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On XE this am the rate is back to 3.98, so almost what it was pre-Bexit.
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I checked my bank statement and I got a rate of 4.225 on the morning of the referendum. So £ is still 6% down but, if you are changing for TL, but it is better than the 12% down at the start of the week.
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I got 4.25 from Seker Bank on the morning of the referendum so it still has a bit to go tomorrow to be at pre-Brexit levels.
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Kayakebab, that saddens me, you have always been the most down to earth and positive person about moving to Calis. I know how much it means to you.
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Thank you. You know what I' m like. Everything is set up and then this. Act in haste..repent at leisure.
So a couple of questions please.
Money?? Not to send to a Turkish account???, Do we leave £ in UK, what and draw out at a cashpoint? Isnt that going to be expensive..or is it cheaper in the long run?
Which bank to open an account with?
Residency runs out Feb, when do we start process?
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Drawing money from an ATM. It depends what card you are using. There are a couple of cards which do not charge you a fee for using an ATM and which have a rate of 0% "loading" (loading is the hidden charge on drawing foreign currencies i.e. it doesn't show up on your bank statement, you just get a worse exchange rate than you thought you were getting). For example, if you have a Lloyds Debit card and use an ATM you will be charged a minimum of £2 for using it and 2.99% loading. This is on top of the small charge that VISA or MasterCard make for their services. So if you draw out £100 worth of lira Lloyds will charge you £4.99 for the pleasure of getting your own money. You can get a UK debit card that will charge you nothing on top of VISA/MC rate.
However, I don't really see the advantage of doing that over opening a Turkish sterling account, drawing £s and changing up (apart from one extra transaction). If you go that route check how much is covered by government guarantee in case of bankruptcy (as you would do in UK) and don't exceed it.
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Problem being that pension will only pay sterling to uk account. They will only pay currency of that country.
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I don't understand. Why is that a problem?
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So it wont be a problem? Well thats good news. Pension paid in lira to? Then how can itgo into a Turkish sterling account, or am I being thick?
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At The moment I would advise that you keep your sterling in The UK... Get a Nationwide Flex account.. Draw your money out in sterling (no charge) and then change it to Lira in Turkey...
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I think people who warn against putting money into lira accounts are thinking about situations where someone has saved a nest egg - say £100,000 - and is dazzled by the 10% interest rates sometimes available on 30 day notice accounts and similar. That is, we are talking about people investing large sums of money into a Turkish bank. For this you need to make a judgement about return versus risk. Why do Turkish banks offer higher rates on lira accounts than they do on sterling accounts? Because they are perceived, by Turks, to be riskier. Turks with long memories can remember the lira suddenly falling through the floor, and on more than one occasion. They prefer gold or dollars.
However, you are not talking about that. You are dealing with £500-odd a month, much of which will probably be spent that month. So there isn't a lot at stake and it isn't over a long period of time. There is less to worry about.
P.S. Using a Nationwide Flex Account card in a Turkish ATM will cost you £3 per £100-worth.
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Colwyn, I use a Lloyds debit card quite often to draw out sterling, there isn't a loading charge. Granted there is a fee, minimum £2 or £1.50 / £100 if you're drawing in excess of £100.
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So is it back to Deniz bank for pension, or is there a better option in Turkey?
Think I will have a look at Nationwide flex account too. We already have a Nationwide savings account, if its the more favourable way to access savings money.
Thanks once again everyone.
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So is Lloyds a cheaper option then? Anyone with coop bank?
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We used to have our pensions paid into a Nationwide Flexaccount and then withdrew sterling at an ATM. Never had any problems, or charges.
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We used to have our pensions paid into a Nationwide Flexaccount and then withdrew sterling at an ATM. Never had any problems, or charges.
Quite right. I was quoting the rate for withdrawing lira.
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Colwyn, I use a Lloyds debit card quite often to draw out sterling, there isn't a loading charge. Granted there is a fee, minimum £2 or £1.50 / £100 if you're drawing in excess of £100.
Have you checked this? It doesn't match the information I have. Since banks don't disclose the loading they put on your card in your monthly statement you have to check the exchange rate Lloyds are delivering with the VISA/MC rate on that day. If you PM me an example of an actual exchange rate you have on your statement and the date it was reported (not the date of your purchase) I can check it for you if you wish.
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I'm drawing sterling, not lira & can see the charges clearly on my online statement. As recently as 13th June, I withdrew £350 & was charged £4.50.
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loading is the hidden charge on drawing foreign currencies
So if you are not withdrawing foreign (i.e. non-sterling) currency you will not be paying it. If you are happy with paying £4.50 to get at your own money, then that is fine.
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For the few times I use it, yes I am, particularly since, as site treasurer, UK owners may want to send money to have work done on their apartments. In that event, they pay the charges in addition to the work required, so it's of no consequence to me & far more convenient for them.
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So what are the charges for a coop current account to withdraw in Turkey please?
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Which currency, Bernie?
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In both please Colwyn if you would be so kind.
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Sterling = £2 or 2%; whichever is the greater.
Lira = £2/2% plus 2.75 foreign currency loading = £4.75 minimum.
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Kayakebab, that saddens me, you have always been the most down to earth and positive person about moving to Calis. I know how much it means to you.
Thank you Lottie for those kind words.
I'm back in love with it all and feeling positive.
I've spent hours reading up on it all and asked so many questions to educated Turkish friends, one in particular whose house is like a library and he has studied every bit of Turkish history.
He told me to stay where I am and told me that Turkey will emerge better than before from this.
Im safer than in London or Brighton where we are both from, he assures me.
Ive learned loads of new Turkish vocab the last few days :)
Thank you. You know what I' m like. Everything is set up and then this. Act in haste..repent at leisure.
So a couple of questions please.
Money?? Not to send to a Turkish account???, Do we leave £ in UK, what and draw out at a cashpoint? Isnt that going to be expensive..or is it cheaper in the long run?
Which bank to open an account with?
Residency runs out Feb, when do we start process?
I got 4.25 from Seker Bank on the morning of the referendum so it still has a bit to go tomorrow to be at pre-Brexit levels.
I checked my bank statement and I got a rate of 4.225 on the morning of the referendum. So £ is still 6% down but, if you are changing for TL, but it is better than the 12% down at the start of the week.
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Sorry...no idea why ive copied all these other posts and no idea how to edit them away....
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Well the good news is you are back in love with the place and you feel settled again ;D