Bank Acount Query

[Elsa Padfield]

I've just been checking my Garanti bank accounts and found that the current account has less in it than there was and we haven't withdrawn any money.  why would this be?  also, does anyone know what a liquid ELMA acount is?  It seems that I have one and didn't know!

And, what does this mean: MÜÞTERI DEKONTU?  

If anyone could help I'd be really grateful.  Ta!!

[cenk]

Elsa
In some banks , they put your money automatically to daily interest account , and you can not see how much they put , in bank notebooks . Maybe you have same situation . This kind of accounts are generally called as liquid funds and every bank give different special names to this kind of accounts . ELMA means apple , but it maybe the special name that Garanti Bank gave to this kind of accounts . I can not give more details as I dont work with Garanti . In Finansbank they call it OH (Short of Otomatik Hesap that means Automatic Account) . If you have this situation , best way is to call bank and learn if they put your money to daily interest account and find out how much you have in this account.
Musteri Dekontu means , Customer's statement of account
Hope this helps
Cenk

[Elsa Padfield]

Thanks; that sort of makes sense.  It is a liquid fund account.  The only thing is, there's less money in the account than there was in October; strange?...........

[kenkay]

Elsa. Firstly I am assuming that you have internet access and that your account is a YTL chequeing account. If you bring up your account details it should show a balance, an ELMA balance and a total balance. In my case the balance is always maintained around 200 YTL and some months it may be a bit less. However my ELMA balance and total balance are always higher unless I have made a transaction. In general the interest from my monthly savings account more than covers my electricity bills which are the only Direct Debit type of payment.
If you view your statement you should see transfers from your basic account to your ELMA.
Hope this makes a bit of sense.  
Ken

[Elsa Padfield]

No it doesn't but I'll have to get someone to explain in the bank next week.  We have money in a stirling s/c, a current a/c and a deposit a/c.  The current a/c seems to lose money. I'm obviously not managing it well, I haven't looked at it for ages and didn't pick it up.  Thanks anyway.

Elsa

[Twin Bee]

Elsa - join the club, my current account has been losing monrey for 40 years.!!

[stuart]

sounds like someone is having a bite of your elama!!

[starman]

You need to go to your branch and tell them you DONT want the elma account. I too have had run ins with garanti bank about this stupid elma thing. It is just a waste of money.
I dont bank there anymore anyway as its too far up the hill from my office when you compare the akbank which is next door.

[Elsa Padfield]

So what is an ELMA; what does it do?

[kenkay]

Elsa, this is the description copied and pasted from Garanti's website. I must admit that we were just given the account when intending to open a standard YTL current account and did not specifically apply for it. However it does not appear to hold any problems for us.
 
ELMA (Excess Liquidity Management Account)  

With an ELMA Account you can earn a return on your money while
you are spending it.

If the level of cash transfers to your account is high and you withdraw money very frequently, an account that invests in B type ELMA money market funds will probably suit your needs best. It will ensure that your idle money is utilized without your having to keep a regular track of it.

ELMA account sells your mutual funds for you as the need arises when you withdraw money or an automatic payment falls due, then buys new mutual funds whenever money is transferred to your account.

ELMA Account pays all utility bills, rent, school fees and similar periodic expenses on behalf of you in accordance with your payment order.

A statement showing all transactions made in your account and the status of your investments is mailed monthly to your address.[/blue]
Hope this helps some more.  
Ken & Sue