GPB Accounts in Turkey

[TheBruces187]

Sorry if this a stupid question but this is my first post, since our new members introduction and this is all a bit new to us

We have set up both YTL and GBP accounts in Turkey and have some cash in both. The dumb question is, from the GBP account will we be able to withdraw pounds over the counter and transfer GBP directly to Turkish bank accounts, or will the pounds have to be converted to YTL, first? The account in question is with Finans.

Any advice will be gratefully received. Thanks

[karaokemark]

You will be able to draw GBP over the counter but if it is large amounts may may need notice. You can transfer GBP into TL account but it will be changed  to TL whatever the rate is at the time of change.

[TheBruces187]

Thanks for the feedback K-Mark. What I should have said is the Turkish bank account I want to transfer GBP's to, is also a GBP account, at Garanti. Presumably, this will present no problem and take a similar time to transfer as it would in the UK, bank to bank? Like, 2 or 3 days? Thanks again.

[Crabbit]

You will be better off withdrawing cash out of one and paying it into the other, a bank to bank transfer in Turkey will cost you quite a bit.

[captainjon]

There is a gentlemens agreement here (in theory)to only charge 50ytl for electronic transfers bank to bank.But I was charged over 100ytl by Finnanse bank when I removed all cash from them!!!!!!!so beware.draw cash as has been suggested,and use the security guard from the bank you wish to go to accompany you!!goodluck

[c1]

also you don't earn the same rate on sterling acc as you do on lira

[TheBruces187]

Thanks to everybody for the good advice. It's very much appreciated.