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Old 28th November 2013, 15:01   #1 (permalink)
Ged
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banking question

Thinking of moving to Akbuk. I have bank account with TEB which is where I would transfer my funds to. If I decide to move back to the UK, is it easy to transfer funds back to the UK?
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Old 28th November 2013, 15:07   #2 (permalink)
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Re: banking question

Yes, it's called internet banking, just transfer the cash to your UK bank.
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Old 28th November 2013, 15:49   #3 (permalink)
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Re: banking question

Love it, oldfogy!
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Old 28th November 2013, 19:08   #4 (permalink)
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Re: banking question

It isn't always as straightforward as that; or maybe it is, but many people would not trust transferring LARGE amounts of money with online banking.
All I know is that we transfered some of our savings to a bank in Turkey with what was called an International Money Transfer.
It was a form we had to fill in at the bank in the UK, and then the bank did the rest with a guarantee of safe arrival of funds.
I don't know if you can do the same Turkish bank to UK bank.
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Old 28th November 2013, 19:27   #5 (permalink)
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Re: banking question

i have internet banking with teb but there appears to be no facility to transfer funds, maybe i am missing something. i have only been able to check my account balance. i believe that some countries may have regulations about the amount that can be transfered out of the country which is the reason for my post to find out if this has been a problem for any ex pats in turkey or not.
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Old 29th November 2013, 03:35   #6 (permalink)
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Re: banking question

I have transferred money back from hsbc in turkey using the bacs system with no difficulty. Same transfer procedure as the uk
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Old 29th November 2013, 07:27   #7 (permalink)
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Re: banking question

I am told that there are transaction limits and that you should have an audit trail for all the money, apparrrently this info is on the English language part of my bank (HSBC). I have previously transferred large sums either way without problem, but money laundering rules have kicked in

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Old 29th November 2013, 13:26   #8 (permalink)
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Re: banking question

Quote:
Originally Posted by Ged View Post
i have internet banking with teb but there appears to be no facility to transfer funds, maybe i am missing something. i have only been able to check my account balance. i believe that some countries may have regulations about the amount that can be transfered out of the country which is the reason for my post to find out if this has been a problem for any ex pats in turkey or not.
I know it's been less than 24 hours, but have you managed to find anything new with regards to transferring from your TEB account?

Obviously not all banks are the same and like other commenter's no one yet seems to be using the TEB bank.

Appologise for my original post but I didn;t mean it to sound as rude as it does, but just to point out (if you didn't already know) internet banking would be your best way.

Obviously make sure your initial transfer from your TEB account is from a sterling account as the transfer charges should be a lot less than transferring Lira and then the UK bank transferring it into sterling.

You might also want to check with both banks what the charges will be before you start, just so there are no BIG surprises when it happens.
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Old 29th November 2013, 18:40   #9 (permalink)
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Re: banking question

We have banked with TEB for 6 years. We haven't tried to transfer funds out of Turkey but have had no trouble transferring funds to other accounts using just the IBAN number of the recipient.

I'm fairly sure you can transfer funds by SWIFT but there may be limits to how much you can transfer at one time. Have a look around their website and if you can't find the information email your account manager, we have always found TEB staff very helpful.

As Oldfogey says make sure you transfer from a GBP account.

Last edited by traveller; 29th November 2013 at 18:42..
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Old 29th November 2013, 19:10   #10 (permalink)
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Re: banking question

Quote:
Originally Posted by yalimart View Post
I am told that there are transaction limits and that you should have an audit trail for all the money, apparrrently this info is on the English language part of my bank (HSBC). I have previously transferred large sums either way without problem, but money laundering rules have kicked in

Martin
As have I had the rule kick in

Transferred proceeds from apartment sale and I received an alert from my Experian credit expert account letting me know search had been carried out by Societe Generale Securities for Money Laundering. They could obviously see my paper trail which I had insisted on
As previously said just make sure you have your trail receipts etc that is why I suppose some banks are now querying larger cash deposits in Turkey
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