Calis Beach and Fethiye Turkey Discussion Forum
Information and Services in Turkey Section => Banks, Interest, Money Transfers, Insurance => Topic started by: Anne on July 16, 2004, 21:29:11 PM
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Our final payment will probably be due sometime over the next 2/3 weeks. Since we'll be over next week to set up bank accounts etc we need some info.
Is it worth putting final payment into Turkish a/c for a few weeks?
or should I just transfer from here before we go. (Our thoughts are better some interest than none).
Were you able to open it with a cheque? If so, how long to clear? and finally how easy to tramsfer from there to builder's account for final payment?
Cheers
Anne
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I think the interest rate makes it worth storing in TL for a few weeks but I believe you will have to open your sterling and lira accounts, transfer your money over into your sterling account and then get it moved across to the TL account.
I don't think you can open it with a cheque drawn on a British Bank (I think someone recently posted about that problem). If you open your accounts you get the detais straight away - perhaps you can arrange with a family member to transfer the cash over as soon as you have the details of your new account, then you can oversee it while you are there.
Keith or someone else may have more information or a better way.
Teresa 8)
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cheers Teresa
Think we got a problem :(
Anne
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Anne,
You are probably right in trying to get a bit of interest, we did not think of that when we bought.
We transfered our money from the UK via the bank into our sterling account at Finans in Fethyie, our thinking was that all the way through negotiation we had talked about sterling. This cost us £25 and was in Turkey the following day. As soon as our man wanted the money we faxed the bank permission to release the agreed amount, this transfer to him cost us nothing, (other than the cost of the fax, of course, and he had his money that afternoon.
You would be probably better transfering before you go but how can you unless your account has been set up already?
Peter
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just seems we'd be better gaining the interest than the agent or the builder.
doesn't look like it's gonna happen though
Anne
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Beware,you could also lose money doing this if the exchange rates changed,i.e if you put changed your money into TRL at 2.6 and the rate changed to 2.8 you would lose money.
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Am aware of the pitfalls Smudge, but it's a chance worth taking in my book.
Wish me luck.
Anne
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Go for it Anne I made £500 whilst waiting for tapu