Money transfer

[Di and Barry]

Hi everyone, We have just (today - Thursday 6th October) transfered £90k from HSBC in the UK to our sterling account with AKBANK in Fethiye and the only charge we incurred was a standard £21.00 fee by HSBC at this end.  We had checked with AKBANK before sending the money over as we read some of the high charges some of you were charged with other Turkish banks and were concerned.
Feray at The Golden Moon Estate was the bank manager at AKBANK (until joining Mete at The Golden Moon - clever move Mete!!)and she was very helpful in setting up the account for us and advising us on a whole manner of topics in relation to bank and money matters.
Hope this helps out but it does pay to check at each end regarding money transfer.
Di and Barry xx

[xanadu]

In my experience you need to pay all transfer charges in the uk when tranferring money to Turkish bank account !!!

[lynne]

Heidi, Finansbank charged us to receive money....

[russab]

I used a Intelligent Finanace for the first payment earlier this year on a new build. They charged me £30 but on top of that they could not
- print and give me a receipt that showed that they had sent it to the exact bank and accont number I had specified
- trace the payment and tell me where it was along the chain of banks that a SWIFT payment sometimes takes.

So for the next payment I did a normal UK electronic funds transfer to a specialist payments company - Trancentrix (Now merged with Ruesch)
http://www.ruesch.com/na/services/internationalpayments/

They then not only give you a low fee - in my case £10 - but they also track the payment and give you a written confirmation of where the SWIFT payment is going. This is better than waiting days to find out that some keystroke error has sent your money to the wrong country - yes it can happen!.

[Ingol Angel]

Lynne, we too were charged by Finansbank for 'receiving' the money transfer.  Apparently it all depends on which 'box' is crossed in the UK transaction as to whether the receiving bank have the authority to deduct 'their share'.  In our experience we were charged £127 in total to transfer £60,000.

[johnners]

I talked to garanti bank about this and |I was told that the money is transferred to garanti in Istanbul and they charge £75-00 to transfer to the recipients local bank this means it costs about £90-100 to transfer any amount including UK cost natwest is£18-00.

hope this is helpful Johnners

[1crow]

quote:Originally posted by livinginthesun

Hi

I'm currently doing some research into Foreign exchange / money transfer for some advice pages on this subject which we'll be publishing soon on our Moving Overseas Guide website.

From what I've seen so far, if you need to exchange money into a different currency & transfer it, if you use a specialist foreign exhange agent you can make large saving on the actual exchange rate over high street banks, as well as getting the funds transferred for free (& that includes for free at the receiving bank).

I'm not sure yet if the trasfer is fee free if there's no currency exchange, but I suspect not.  The fee's may be lower however.

If you'd like to know when we've published our research or wants if you'd like links to the foreign exchange agents whom I've researched, e-mail me & I'll let you know

Regards
Pete Adams

[Jules1]

Just sent my payment by Halifax and it cost £30 but because it was direct to the developer I'm not expecting any other charges.
Was just wondering though if there was a quicker way that anyone knows about?   I was quoted 3-5 days by the Halifax.   Does anyone know of any payment method that would get it there same day?
Cheers
Julie ))

[coldkeys]

Hi, new here. We opened HSBC account here and in Bodrum. Have transferred two large sums of money and only charged £10 by HSBC here in UK. No charges in Turkey.

[puma]

hi and welcome coldkeys,HSBC seem to be quite good.how about if you want to say hello to us all in the intro section,:Dlots of members there will give you lots of advice on any questions you may have