Calis Beach and Fethiye Turkey Discussion Forum

Information and Services in Turkey Section => Banks, Interest, Money Transfers, Insurance => Topic started by: Steve B on June 17, 2011, 16:16:48 PM

Title: Hard cash V Cashpoint Cash
Post by: Steve B on June 17, 2011, 16:16:48 PM

My other half and I want to know would we get a better exchange rate by taking spending money over to Turkey in cash and exchanging it as we go along (at the official offices of course), rather than drawing out Lira from her HSBC account (which I understand HSBC don't charge if you use their cash machines?)  

Thanks ya'll.

Title: Hard cash V Cashpoint Cash
Post by: IanK on June 17, 2011, 16:35:03 PM

Steve,

from my experience whilst the banks often don't charge a fee, the rate they give you is much lower than the local rate in Calis.

Personally, I draw sterling out of the HSBC cash machine and change into TL locally. For example, Natwest charge £2 for an overseas withdrawal when you do this so thats the only penalty. Only makes sense if you get a decent amount out as I think the £2 is the same for a £10 or £500 withdrawal!

It all depends what the fees and rates are for your particular bank account.

Ian

Title: Hard cash V Cashpoint Cash
Post by: Steve B on June 18, 2011, 15:24:21 PM

Thanks Ian.