Calis Beach and Fethiye Turkey Discussion Forum
Information and Services in Turkey Section => Banks, Interest, Money Transfers, Insurance => Topic started by: tinkerman on October 10, 2007, 15:37:53 PM
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A question for the folk living in Turkey, Which bank and why?
do they all give the same rate of interest?
Tinking of moving soon ;)
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We're with Finans after a short time with Yapi Credit. Ayse speaks excellant English, their web site is in English and their rates as good as anyone else.
Glad to hear you are coming to join us Tinks, good luck.
Fi & Eric
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Finans is a good bank, Ayse is always pleasant & helpful :)
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A bank which will not give you your money when you ask them is not a good bank - so Finams Bank does not tick all the right boxes for me. There reason was they didn't have enough money and they had a customer due who wanted to make a big withdrawal. So much for first in the queue gets priority.
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quote:
Originally posted by Twin Bee
A bank which will not give you your money when you ask them is not a good bank - so Finams Bank does not tick all the right boxes for me. There reason was they didn't have enough money and they had a customer due who wanted to make a big withdrawal. So much for first in the queue gets priority.
:o B-Hell TB, how much did you want to withdraw ???
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I avoid Finansbank nowadays unless I have no choice. Ayse is worth her weight in gold but there must be 20x more customers than when I first used to go in for a fag ;) - the poor girl serves 3, has a phone in each ear and apologises for keeping people waiting, when it is only her who keeps the waiting time down.
We have taken a ticket downstairs, gone off to Gima, done a good shop, taken it to the car and returned, just to find that there is another 30 minutes to wait.
Anyone notice the middle guy in the downstairs bit? I never saw him serve anyone! He spends all day "counting money"!
Besides and furthermore, I don't appreciate the stories I am told - the lady who needed to call on her insurance policy, only to be told she wasn't covered for something she specifically asked to be, the guy who lost his card in the ATM, only to find 1200 YTL taken in the next few hours (just before and just after midnight) who was told it was his problem and that was the end of that story, and my good friend who asked to take out his cash, like Twin Bee told they didn't have enough money, but they could do a credit transfer - then told him there was a hefty fee to transfer money! They charge you money when they can't give you money! Absolutely ridiculous.
I find HSBC to be fairly good, and DenizBank are very good with a little frustration over full English communication sometimes.
Whay can't these people speak English, we are the saviours of the Turkish economy ;)
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Have been with Finans for 2 years no problems, monthly account you can only withdraw on the date given, daily account you can take out any day. You will have no interest on a £ account, but can get up to 18.5% on a monthly account.
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Was with Akbank, had to be dragged kicking and screaming in there. Wasted half a day every time went there, and found very stressful. HSBC much better, able to transfer from English sterling to Turkish sterling accounts for £10. Also once turkish account set up, able to set up high interest accounts on Internet, and monitor daily. Internet site very user friendly. Would recommend.
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I am working with Finansbank and happy with them .
If you want to withdraw a big amount , it will be enough if you notify them by phone one day ago , all banks work like this.
The worst ones about service in Fethiye are , Garanti and Isbankasi , those two are the ones that I will never work with.
About interest , all banks are giving nearly same .If you are putting a good amount , you can make it %1 - %2 higher by speaking them.
Cenk
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not finans for me either i'm afraid! Opened an account for my little boy who was 2 at the time, explained to Ayse that I wanted a savings account for him, she knew his age etc. All of that was fine..... but when I went to pay money in some time later and his book got updated he had LESS money in than he had started with!! Never got a complete explanation tax and bank charges(!!!!) for a two year old!!, AND had to pay 15 lira to change his account! hasten to add, account closed and moved!
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Cef - Only £2000 so not a lot!
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In 2p's
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I have been with Oyak bank for over 5 years ,very good service ,no problems .Kim
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We use Finans and use internet banking system. No problems. Our interest is paid direct into our daily account so no need to go to the bank just use debit card to withdraw money, direct debits payments for most bills just like UK. On the rare occasions we have had to go to the bank we speak to whoever is free as they all speak english. If we have to wait I always get a cay and chill.
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Also very happy with Finans. Find the website, Ayse & other staff there most helpful & friendly. So there may be a wait sometimes, possibly something to do with the many many customers they have, simply because they find Finans the best overall bank in Turkey.
I was tempted to use HSBC, but was informed by staff in the UK not to touch them in Turkey as they were no-where near as efficient as they should be. That coming from UK based HSBC staff would you believe.
quote:
Originally posted by quackers
We use Finans and use internet banking system. No problems. Our interest is paid direct into our daily account so no need to go to the bank just use debit card to withdraw money, direct debits payments for most bills just like UK. On the rare occasions we have had to go to the bank we speak to whoever is free as they all speak english. If we have to wait I always get a cay and chill.
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As business goes, I'd say that is a poor reflection of the quality and professionalism of HSBC's staff in the UK rather than Turkey.
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We use Garanti and during the summer we used the new branch just before Migros. Absolutely fab. No waiting, excellent English spoken. Try not to go into the Fethiye branch though! The queues are enormous!
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We use Garanti. The new branch is excellent. You can go upstairs and speak to an advisor usually straight away. Their internet site is second to none. We can do absolutely everything online, so a need to visit the branch is very few and far between. We contemplated moving banks when we were offered a marginally better interest rate somewhere else but then reconsidered..sometimes its better the devil you know.
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Finansbank for me too. Had enough problems and without Ayse I dont know where I would be now. However, a bit worried about the recent interest rate reductions. Having shopped around the banks only seem to be giving a maximum of 17.5 % gross at the moment. Anyone concurr?
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How can you be worried.....that's about three times the UK rate and you are paying less interest on your investment!
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quote:
Originally posted by tribalelder
How can you be worried.....that's about three times the UK rate and you are paying less interest on your investment!
I said worrying. I did not say I was worried. It was merely an observation regarding the recent interest rate movements. However, I am sure like you, I have many friends here now who will be worried about the rates as they live off much less amounts of money than others!
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Read your post you did say worried :)
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quote:
Originally posted by tribalelder
Read your post you did say worried :)
Oh yes so I did. I am worried now. Thats the trouble with this site. People like you who do not wish to help with the issue, much more pick up on what was said or how it was said. I thought long and hard about joining this forum because of the way it is conducted. This is a serious issue for a lot of people here. Good luck to you tribal elder who obviously has too much money to worry and can afford to mock the less well off. clap clap :-\
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Please Gentlemen :)
It is a serious issue and I am sure a concern for many that are living here.
I'm also sure that Tribalelder didn't mean anything insulting [:o]
The site is conducted pretty well, you should see some other forums ;)
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quote:
Originally posted by Scunner
Please Gentlemen :)
It is a serious issue and I am sure a concern for many that are living here.
I'm also sure that Tribalelder didn't mean anything insulting [:o]
The site is conducted pretty well, you should see some other forums ;)
My apologies Scunner. Apologies Tribal elder. I happen to have an elderley friend here who is desperately trying to hang on to their existence here after enjoying ten years of their retirement, only to see the lump sum eroding away as the cost of living becomes more expensive.
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No problem :)
One thing that makes this forum different is that we can do serious, but we don't take it too seriously, if that makes any sense.
The interest rate has been coming down for a long time now - some people remember 60% - and as the Turkish government eyes EU membership, the structure and economy is improving all the time.
The other issue is the exchange rate (for those getting UK pensions paid in sterling) and that isn't helping at the moment either.
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I apologise if you thought I was mocking you....I was not. Merely stating pure hard facts. I have always tried to be helpful where I can on this Forum. :)
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He does ;)
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I remember the good old days of 120% interest.
By the way, Citibank for me. Not impressed at all with HSBC and dont start me on Garanti, they charged me 100 bucks to have some money transferred into my account.
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Hi everybody,
This is alper from fethiye.
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Iam working for a bank at Fethiye.
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Hi Banker,
Thats very interesting. Perhaps you will contact me by e-mail and tell me what interest rates you are giving. Please see my profile for the e-mail address.
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That will depend on the amount you are investing and the type of account you want.
Tinx
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That is true interest rate depend on amount but also depend on Bank too. Another very important point is service and the contact person at the bank i think.
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Thank you for your wise words
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if you can, the most senseable way would be to have different revenue streams in retirement,all depends on how much money you have in the first place putting all you cash into any bank and hoping to live of the interest fot the rest of your natural seems high risk to me. I may be wrong on this but if you leave uk your state pension is frozen at the time of exit and you don't get the increases. turkish interest rates can only go down like the uk and the usa.
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Absolutely right C1.
By the way you wasn't in Star Wars years ago was you? Oh sorry that C3 P0
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c1,
Mostly correct and I agree with your retirement advice apart from the state pension bit. The increases are paid to those in Turkey as the UK has a social security agreement with Turkey. Increases are paid in any EEC country or any country with a social security agreement. I'm not 100% sure but I think Australia is one that doesn't - so no increases there.
This website might help:
http://www.nirvanainternational.com/why_choose_turkey/pensions/
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We are with Garanti bank and as previously mentioned, the branch before Migros is always quiet although the English there can be hit or miss.
Does anyone know if we can set up our internet banking for this account from the UK?
Have contemplated moving to TEB as closer to our apartment and also able to draw out cash from atm in English, Euros and Lira.
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I am not with Garanti Bank but if their Internet development is in line with many other Banks worldwide, you should be easily be able to set up Internet Banking from the UK. Once you have their Internet address, several passwords or pass numbers, the rest should be easy. But ask at the Bank. Their English is very good these days.
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if you draw out from your turkish bank account from atm in sterling in turkey do you get hit with conversion charge ? (sludge78 post)
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if you draw out from your turkish bank account from atm in sterling in turkey do you get hit with conversion charge ? (sludge78 post)
Yes you do unfortunately. If it is English Bank, withdrawal from Turkish ATM in English currency, you will pay ATM charge plus conversion charge. This can be as amuch as £12 per transaction.
If it is Turkish Bank account, withdrawal from Turkish ATM in English currency, you pay just a conversion charge and this is very fair plus you get a good rate of exchange. Incidently, it may well be coincidence, but before I moved here for good, I always found midday the best time to withdraw as the rates seemed better at this time of day. Hope this helps.
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As I understand it you can get 17 -20% interest on your account after tax depending on the amount you have invested, wouldn't the uk tax man be interested in the difference between interest paid and the turkish tax under double taxation scheme? also if non resident can you get a turkish bank visa card ? and if used in the uk to purchase items in sterling do you only get the exchange charge? thanks for any guide you can give
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OK C1,
First of all the figures of 17-20 percent interest are pre-tax and are only achieved dependant of the amount of liquid funds in the Bank.
As for the Tax man, if you are silly enough to tell him, then he will want some.
You can obtain a credit card and use it world-wide. The charges against foreign currencies are very, very low and you get one by the offering Bank bonding some of your money. i.e. If you want a 5000YTL limit they will take charge of around 7500YTL of your liquid funds. You will still receive interest on this money, it will just not be available to you. The out come though is that you have a charge card and not a credit card as the balance has to be paid back the next month. You can go over but any unpaid amount is liable to interest and this scales as to how long it is outstanding. However, the ineterest kicks in after days not the 56 days grace we can achieve in the Uk.
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cheers My way I think I understand this bond business now, however you will need two accounts? one run it a deposit acc and the other current/card acc, one could drip feed into the other via standing order to maintain correct balance/ clear the card? because as I understand it you get the best rates on deposit and little or nothing on the current acc,would this be correct.
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Hi C1,
Yes you should have two accounts anyway. A monthly deposit account they call a time deposit account, and a current account. The time deposit account is where the bulk of your money will be giving you interest once a month. The current account is as such a current account but they use your free balance daily to give you more interest. On your statement you will see plus and minus figures of small amounts other than the normal deposits and withdrawals. These are interest payments, the plus figure and tax payments on the interest, the minus figure. With internet banking you could pay off your card yourself every time you need to do this, or fix a monthly spend limit on your card and leave instructions at the bank to clear it when it reaches a certain figure. I personally use internet banking.
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Hello everybody.
Banker is waiting you to say coffee at FORTIS now. I ve changed my bank and now i am at personel banking dept. Some people know me from TEB maybe. I am working for FORTIS now. On my new dept. I would be hapy to help you. Our interest rates are also good. In case of any question about banking dont hesitate to contact me.
Regards.
Alper.
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Banker, if you are genuine you could be a good help to a lot of members.
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pleasure for me :)
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banker whereabout is your office situated
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our office is opposite of me&gri restaurant and near koton shop.
regards.
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and my real name is Alper :)
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Hi can you please tell me where megri is thanks.
Lance
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Opposite Fortis Bank
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Turkey
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Thanks guys at least i know which way to go now.
by the way is that Turkey the one near cyprus or the one in U.S.A.
you didnt make that clear crabbit.
Lance [^]:D
quote:
Originally posted by Crabbit
Turkey
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quote:
Originally posted by lance
Thanks guys at least i know which way to go now.
by the way is that Turkey the one near cyprus or the one in U.S.A.
you didnt make that clear crabbit.
Lance [^]:D
Originally posted by Crabbit
Turkey
:D:D LOL Lance, you sure caught that one 8) ;)
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We are in Garanti and Hsbc both interest rates have dropped and we have asked they say the goverment so which bank then [:o)]
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hi Alper,
think I've worked out who you are! Will come in to see you when next in Fethiye! Congratulations on the new job!
Claire (think of my log-in initials)