interest on savings

[Ian]

C1 - do you mean as I suspect you do that it is better to use a bank that has no connections with the UK (or possibly the European Union)and keep your mouth shut about interest received - which seems logical to me - having paid into the system for many many years and now finding there is little coming back!

Ian

[stoop]

Tax evasion at it's best  

I agree though  

[julesbob0303]

We bumped into a guy whilst in Fethiye (our ex-next door neighbours son) who has moved to the Calis area.  He had a divorce settlement in the UK and has invested it in Turkey.  He told us that he has a great lifestyle - rents a lovely apartment on a semi-permanent basis; eats and drinks out every day etc, and still has more money in the bank than when he arrived in Calis!  Beats having to work for a living!  He thought that we were mad actually buying an apartment.

[victoria]

Hi wonder if anyone knows the sensible way to do this? I can now have my UK pension paid into my Finansbank acct in Fethiye (UK Govment pension) BUT they stipulate a lire account not GBP acct and say the pension will be converted when it reaches turkey at competitive exchange rates. Im suspicious and wonder why they cant pay it in GBP. Anyone else have their pension (or indeed regular payments) sent to Turkey and is it OK. Also whilst Im on, do the banks make a charge when they transfer your monthly intertest (on lire acct) into your 'cash machine'account. I seem to have loads of deductions and its a nightmare to work out!! Finansbank again. Thanks

[epsomboy]

Hi
just read all the above posts,i too would like to know more about Turkish savings account + rates, i know that 15% tax is charged on what you make ,but i seem to have read that if you get a 1 year bond you pay 10%. Just really want  to get a feel about opening an account there,the good + the bad.+ what banks you use and why.
Thanks in advance.
Lee

[Crabbit]

quote:Originally posted by victoria

BUT they stipulate a lire account not GBP acct and say the pension will be converted when it reaches turkey at competitive exchange rates.

And they will charge you a fortune for the priviledge for doing so.  

[stoop]

Victoria,

Why not open a Nationwide account in the UK and then draw your money out in YTL when you need it. There is no charge for this but the exchange rate will obviously affect what you get.