Best bank

[jacqki]

I know some of the old CBF members will groan at my question and yes there has been advise given before but then was then and now is now! We are moving to Turkey in April next year and when we come over next week one of our jobs is to open a bank account in Turkey to transfer money ready for when we come to live there.

So what do you consider the best bank as in interest rates, customer service etc. with todays rates? Any advise/opinions would be very gratefully received.

We do already have accounts with Garanti which we opened some time ago to purchase our property and ticks over the bills, but it does not necessarily follow that this would be the best bank for our purposes now.

[Liz 101]

At the mom, the Orange account at ING is favoured by many expats & UK residents, it pays IRO 8.07% net daily, so no waiting for the "bank day". Whether there will be something better by next April is in the lap of the gods

[Ovacikpeedoff]

Liz101 no bank account will pay you 8.07% net daily. On 100,000TL that would be 8,070TL a day.The rate you quote has got to be an annual rate.

[Firo]

It's a daily account paying 10% before tax for the first month and then 9% thereafter and yes it's the annual rate divided by 365 that is paid in daily...

[Sleuth]

Someone said today on another forum that HSBC bank have slashed their interest rate down one and a half per cent in the last forty eight hours is this a trend ? and will the other banks now follow ?

[nichola]

I had heard that banks were increasing their interest rates - interesting in itself! I do know that I have had Garanti bank on the phone to me repeatedly trying to lure me in for an appoigntment and the final carrot was that they could offer me a better interest rate.

I am fasinated by this as I was under the impression I am already a "very special" customer with standard interest rate +1% for my account.

Can't help re HSBC but if its true its at odds with what I have been hearing...

[jacqki]

Thanks Liz 101 for suggesting Ing bank. Can anyone else suggest any other bank or as Nichola suggests can you negotiate with any bank?

[wickwilly]

Have had no problems with TEB. Always helpful and some of the staff speak good English. Their current interest rate is 9.75%.
WW

[Eric]

The beauty of the ING Orange account is that you can pay money into it or withdraw money from it at any time of the month without incurring penalties or losing any interest.  Basically a current account that pays 9%, not a 30, 35 or 60 day account.

I don't know if other banks have a similar account.

[nichola]

I think not Eric - the Orange account was designed to capture the people that have traditionally used the time deposit account. It's a relatively new alternative but maybe in time other banks will be forced to follow suit.