Kalkan Discussion => Money & Finance => Topic started by: Bob & Jayne on January 04, 2012, 12:14:05 PM
Title: IsBank
Post by: Bob & Jayne on January 04, 2012, 12:14:05 PM
We've notised several members are using IsBank for TL and Serling/FX accounts (www.isbank.com.tr/English) but does anyone also have an account with them at their London Branch (www.isbank.co.uk)? If so, what are the advantages of holding accounts at both?
Also, do IsBank or DenizBank still charge fees if you make 2 direct debits from your account?
Title: Re: IsBank
Post by: turkeyfan on January 16, 2012, 07:02:34 PM
We've got 1 direct debit from our Deniz account and the charge is 5 lira a month.
Title: Re: IsBank
Post by: littlelin on January 16, 2012, 07:43:35 PM
We have an IsBank account in Kalkan and have a DD set up to pay our electric. We were charged around TL36 for the year.
Title: Re: IsBank
Post by: Bob & Jayne on January 16, 2012, 08:31:15 PM
Very useful information (with a comparison of 13 banks) on the Bodrum Bulletin Website: http://www.bodrumbulletin.com/community/finance/798-2011-turkish-bank-charges-review Thanks to Dave Good from the Turkish Living Website: http://www.turkishliving.com/forums/banking-finance-insurance/48662-bank-account-maintenence-charges.html
Although it was compiles in May 2011, so some figures may be dated.
Title: Re: IsBank
Post by: Cosetta on January 16, 2012, 09:31:41 PM
We have DD set up with Isbank to pay electricity, land line telephone, mobile phone and ADSL. I have never seen a charge associated with these payments. Maybe it's a question of how much money you keep in your account ? Or when you opened the account with Isbank ?
Title: Re: IsBank
Post by: Bob & Jayne on January 17, 2012, 08:48:10 AM
littlelin and cosetta. If you look at the table at the bottom of this report: http://www.bodrumbulletin.com/community/finance/798-2011-turkish-bank-charges-review There are 6 banks showing their charges highlighted in green with a 2 above the charge. These banks do not make a charge if 1 or 2 bills are paid from the account. littlelin - If you are being charged by IsBank and have one payment from your account then their criteria is presumably 2 payments so it might be worth you looking at setting up another direct debit to avoid charges.
Title: Re: IsBank
Post by: Mayday1 on January 17, 2012, 11:12:03 AM
Hi, We have two direct debits with Deniz Bank,for electric and water.The charge is now zero.However It is not enough to just have them set up.The account has to show that both are withdrawing money from the account,not just one.Initially only the electric ( tedas ) was taking money and the charges continued until the water decided to take one and once they did,the charges were zero
Title: Re: IsBank
Post by: littlelin on January 17, 2012, 03:54:13 PM
Bob&Jayne, thanks for the info. Mayday1, I'll have to have a look to see if I can pay our water bill by DD from an IsBank account as I know that originally this could only be paid from a Deniz account. Does anyone know if the Belediye are accepting DDs for Council Tax yet, that would be handy?
Title: Re: IsBank
Post by: Mayday1 on January 17, 2012, 09:29:31 PM
Ah the misssing link............A council Tax d debit.No i dont think they do it yet,bless them!!
Title: Re: IsBank
Post by: Wendy on January 17, 2012, 10:01:40 PM
Does anyone have any idea of the current interest rates on the savings accounts? I have been looking on line but can't find anything. I am considering transferring some of our savings from the UK to our account that pays higher interest in Turkey. I am aware that rates of exchange etc can change and all the risks but it can't be any worse than seeing it dwindle in the UK. ^-^
Title: Re: IsBank
Post by: Lantana on January 18, 2012, 06:25:51 AM
All the banks in Kalkan are willing to negotiate on the rates they offer depending on the amount you want to put in and the term you select .
By locking our money in for six months we are currently receiving 9.95 at Deniz Bank, very slightly less at Is Bank.
It pays to shop around and ask the banks for their best (always unpublished) rate.
If you have an account with Deniz Bank (and probably with the other banks) and you wish to change sterling for lira, you get a better rate - by approximately half a percent - if you put the money into your lira acccount overnight and withdraw it the following day.
I know it's no help when you are in the UK but both Is and Deniz employ English speaking customer account executives who will explain everything to do with their particular charges, rates, etc and they are extremely well informed and helpful.
Lantana
Title: Re: IsBank
Post by: Wendy on January 18, 2012, 09:25:40 AM
Thank you for the input Lantana, I received this from another friend today....
Hi Wendy Well I have actually recently enquired about this. For the first three months you get 10.15% and then 9.75% annual rate from there. Only problem is you have to have your money in Lira. That was great over Christmas as it was 2.97 TL but currently it is 2.82 TL so has gone down quite substantially . Normally as you know it hangs around 2.5 to 2.6. To be honest Wendy if you can catch it at a good exchange rate you have nothing to lose and I think you can also use the interest over here to live on rather than draining your UK bank account......
I have copied this to our financial advisor and it will be interesting to note his reply. We are quite happy for this to be a medium to long term investment - as I see it we must make more money over in Turkey that in the UK!
Title: Re: IsBank
Post by: kevincat99 on January 18, 2012, 09:38:28 AM
Last week Deniz bank were offering 11.40% for up to 3 months for new money deposited with them or 10.40% for existing accounts
Yapi Kredi paid the same
These rates were for accounts 100K TL +
Title: Re: IsBank
Post by: caradog on February 24, 2012, 07:53:37 PM
Hi Kevincat, just wondering where you saw those rates as Deniz website seems to indicate quite a bit lower: