Calis Beach and Fethiye Turkey Discussion Forum

Information and Services in Turkey Section => Banks, Interest, Money Transfers, Insurance => Topic started by: Chinook on October 02, 2008, 07:28:28 AM

Title: Bank Guarantees
Post by: Chinook on October 02, 2008, 07:28:28 AM: Does anybody know what the level of guarantee there is , if any , on deposits held in Turkish banks?
Title: Bank Guarantees
Post by: ECHOSTAR on October 02, 2008, 08:29:51 AM: i Do not want to appear rude but please use the search facility as all the info you want is there The answer is 50,000 ytl per account per holder well it was
Title: Bank Guarantees
Post by: Chinook on October 02, 2008, 11:34:41 AM: I had but could not find anything under this heading.You are right that I should have engaged brain and searched under similar headings instead of taking easy way out. :-\

Thanks for the answer. In view of your uncertainty does anybody know if it has been amended or in view of the current economic climate whether a change in the limit is being contemplated by the Government
Title: Bank Guarantees
Post by: number2 on October 02, 2008, 12:20:23 PM: quote:
Originally posted by ECHOSTAR

i Do not want to appear rude but please use the search facility as all the info you want is there The answer is 50,000 ytl per account per holder well it was
Does that mean that i can have 6 different 42 day accounts in one bank with 50,000ytl in each, that way i can get a good interest rate and also be able to draw money every week, without losing out, or do they have to be in different banks. Alan
Title: Bank Guarantees
Post by: ECHOSTAR on October 02, 2008, 17:36:19 PM: Hi Alan

its different banks but if i was you i would look into it being 42 days mine is 35 and i was moaning about that
Title: Bank Guarantees
Post by: karaokemark on October 02, 2008, 18:42:09 PM: I have just read this statement I wonder if it covers Finansbank as the National Bank of Greece are the majority shareholder of Finnans with over 80%

An unnamed senior Greek finance ministry official said the country would guarantee all deposits at its banks. Such a move would ignore criticism of a similar move by fellow euro zone member Ireland, which has attracted criticism from Britain and Spain as well as misgivings among Brussels' competition authorities.

Mark
Title: Bank Guarantees
Post by: tel on October 03, 2008, 12:13:52 PM: I asked in Finans and the answer was 50k ytl per named person..ie joint account would be 50k each. But I would not like to say that multiple accounts would do the same. My guess is one pay out per person. To be checked out LOL
Title: Bank Guarantees
Post by: captainjon on October 04, 2008, 06:29:10 AM: See todays Zaman for full statement on bank accounts/insurance etc.Joint accounts get double cover,ie 100000 lira per account.But no change in turkeys banking system overall.To get aditional protection create other accounts in other banks
Title: Bank Guarantees
Post by: banker on October 08, 2008, 11:45:23 AM: Hi This is Alper from Fortisbank fethiye :)

the exchange rate is 2.46 now and We serve %20 interest for the amount over 100.000 ytl.

regards.

alper

All turkish banks gives 50.000 ytl guarantee. because this is from goverment.
Title: Bank Guarantees
Post by: karaokemark on October 08, 2008, 12:40:24 PM: Alper if it is a joint account do you guarantee 100,000 ytl?
Title: Bank Guarantees
Post by: banker on October 08, 2008, 15:13:26 PM: That is true :)
50.000 ytl for per person :)

regards

alper
Title: Bank Guarantees
Post by: JohnF on October 08, 2008, 16:13:09 PM: quote:
Originally posted by tel

I asked in Finans and the answer was 50k ytl per named person..ie joint account would be 50k each. But I would not like to say that multiple accounts would do the same. My guess is one pay out per person. To be checked out LOL

Correct guess; the government guarantee 50,000TL protection per account holder, not per account.

JF
Title: Bank Guarantees
Post by: tel on October 08, 2008, 18:12:42 PM: It is 50k ytl per named person per bank. Multiple accounts in the same named brand bank, still only 50k ytl maximum, with the exception of a joint account which will pay 50k ytl each name.
Title: Bank Guarantees
Post by: JohnF on October 08, 2008, 19:05:56 PM: quote:
Originally posted by tel

It is 50k ytl per named person per bank.

I think you'll find that it is definitely 50,000TL per account holder; this is irrespective of how many accounts/banks are involved - and also you only get one bite at the cherry, i.e. if you have to claim under the TCB guarantee scheme, then you can only do it once.

That's the way it is just now - it could be different tomorrow, especially given the current financial climate.

JF
Title: Bank Guarantees
Post by: Mr Pickles on October 11, 2008, 06:44:49 AM: My 376 YTL with ING is safe then - phew, what a relief!!!
Title: Bank Guarantees
Post by: Gorgeous_bird on October 11, 2008, 09:16:51 AM: quote:
Originally posted by Mr Pickles

My 376 YTL with ING is safe then - phew, what a relief!!!

I know I was in a panic about my 400 lira with ING :). Although I think I am going to take it out when I'm there in October not for safe keeping but putting it in a bank that can cope with Direct Debits for Electricity.:D
Title: Bank Guarantees
Post by: wickwilly on October 11, 2008, 21:19:56 PM: Although all the banks are guaranteed to pay out 500000 ytl per account holder has anyone considered how long it would be before the Govt actually paid out?. My solicitor reckons it could be up to 4 years before it was all sorted out.
WW
Title: Bank Guarantees
Post by: savoyboy on October 11, 2008, 22:37:24 PM: So what Banks do you think are safe?
Title: Bank Guarantees
Post by: wickwilly on October 12, 2008, 05:40:05 AM: In the current climate, probably none!!!.

WW