Calis Beach and Fethiye Turkey Discussion Forum
Information and Services in Turkey Section => Banks, Interest, Money Transfers, Insurance => Topic started by: tinkerman on October 08, 2008, 08:22:22 AM
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Anyone getting nervous about their savings in this present credit crisis?
What are the alternatives?
Tinx ;)
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Property :D
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GOLD
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but where do you keep your gold?
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He keeps it in a jewelry box on top of the wardrobe in the second bedroom. He's going to the UK Nov 2nd-9th.
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UK!!!!!!! not for me, too bl**dy cold.:D ;)
Baz 8)
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that will be his earing then
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And everybody know's you keep Gold in a chest buried in the garden.:D
Baz 8)
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Zimbarbwe!!! soon will have lower risk than Uk
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That's it!
Buy a lovely ranch in Zimbabwe. The weather's good and the locals all call round.
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isn't it great we can all laugh in the face of adversity:D
but this is a serious question, will it hit The Turkish banks?
Tinx ;)
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Savings ?
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One thing that seemed to make customers relaxed about the banks in Turkey was to inform them that a number of them were in the safe ownership of large, respected European banks (Finans, ING/Oyak etc.) - maybe now those that aren't may be a safer bet? As discussed somewhere else, Turkish banks tend to be wealthy with cash assets rather than property and the like. Cash tends to get an easier ride in turbulent times, certainly when compared to capital assets - which can be heavily hit in a recession - and for that reason, it is likely that Turkish banks will not be as exposed as UK and European ones.
The only other consideration might be the exchange rate, if you want to return your Lira to Sterling. As long as Turkey keeps it's economy equally as healthy or unhealthy as the UK, not much will change there :)
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Finansbank is largely Greek owned
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Well there you are then
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Baz,you know you must only bury your gold at the end of a rainbow
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Thought I read The Greeks bought the rest of Finans [51% ]last week
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If you had £500,000 where would you invest it? Shares are a bit of a worry at the moment although you can get some good buys with the market so low. Building Soc/banks would have to spread the money around so there's no more than £50k in any one of a group of banks - that is getting more difficult as banks/building societies are incorporated into larger groups. Property will always be there but there are running costs. Good time to buy property at the moment though although my guess is to wait a while longer as properties will continue to fall and I suspect more available through auctions as defaulters are repossessed. I like the sound of gold but wasn't sure where one would go to buy gold from - not seen it in Tesco's! Found a site through google search though -
http://http://www.bullionvault.com/
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if i had 500k i would put it in my safe go and live in calis and take 20k ayear out for the next 25 years that would take me to 75years old with my dream fulfilled stuck here another few years until property market hopefully picks up lost 50k this year on my props with the way the markets gone in uk still dreaming though,another idea is to buy a plot of landin turkey for say 80k stick 2 villas on it another 80k sell one for 100k and you have yours for 60k brains working o/t now.
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quote:
Originally posted by Brandi
If you had £500,000 where would you invest it?
Somewhere Mrs H couldn't find it. ;)
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Hide it in your underpants then
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What do you think the order of collapse would be (if it ever happened). I reckon !st Finans, 2nd Seker bank, 3rd Garanti,4th Yapi Kredi
Any bets?
WW
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I reckon if it will happen, ING will be in the top 2 [:o]
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For your info just received following from Yapi
'We appreciate your interest shown toward Yapi Kredi Internet Banking.
In Turkey only the 50.000 Turkish Liras of your individual current account is under warranty per person.This guarantee includes time deposit accounts that is used for individual transactions,not for commercial transactions.
For detailed information please call Yapi Kredi Call Center from + 90 212 444 0 444 and press 9 for English.
Regards,
Yapi ve Kredi Bankasi A.Þ.'
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Hi All,
It is all well and good Yapi Kredi saying that, but the banks could quite easily rule out foreign nationals from their guarantees!
I would be very careful about investing money in Turkish Banks.
The Turkish property market is also very dodgy at the moment. Some say it is a good time to buy property with prices so low. My view differs to this. Property prices across Europe have dropped, especially Spain. They are still buidling property in Spain with a view to stock piling it. In a few years there will be a lot of spanish property released on to the market at very silly prices. You will be able to buy a proprty in Spain for very similar if not lower prices than Turkey. When you also factor in the cost of flights, Spain will be a more attractive proposition for English buying abroad. Don't get me wrong, I hate Spain and what it represents, but, most English are like sheep and will simply follow the flock.
Turkey has so much more going for it and it is ashame that every year something happens that seesm to deter tourists. This year, I thought that due to the strength of the Euro, Turkey should prosper. However, the YTL rate dropped to circa 2.06, meaning of course that the exchange rate was as unfavourable as the Euro!
Cheers Guys,
Jamie
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quote:
Originally posted by Scunner
I reckon if it will happen, ING will be in the top 2 [:o]
That's it then when I am out in 2 weeks I am moving my 300YTL (yes 300)- not because they could fall but because I just want them to pay my Electricity DD and they won't they just say "Problem"
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If i have 5 time deposit accounts with 5 different banks, with 45,000ytl in each, are all 5 guaranteed. Alan
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Turkish banks are working quite serious
If you put money for save in YTL, you will get also good interests/comission on it.
But search for big bank such as Yapi Kredi Garanti is Bankasi and Ziraat Bankasi.
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Why dont you visit me then? :)
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I dont think something will happen to Turkish banks , but of course can not be sure . Most guaranteed saving method is to buy "Hazine Bonosu" , Government Bond . Interests maybe a little lower but worth for peace of mind. Or maybe half Government Bond and half bank account.
Cenk
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Hi
can anyone tell me the best rates for a YTL time account,and who with please
Thanks
Lee
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George Soros, the guy who, in the late 80s virtually singlehandedly crashed the UK economy with his financial dealings & almost brought down the government, recently surfaced on American TV to state the following re. the world's present economic situation..'Think of it as an atomic blast, the explotion has already happened but the clouds are still forming and the shockwaves haven't even begun to be felt'...his words not mine. I know first hand the costs of financial tsunamis. Find a safe harbour and batton down the hatches.
Caz..