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Old 30th June 2015, 10:22   #1 (permalink)
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Best bank account for non-residents

Hi
I only need a bank account for paying utilities and property tax. Will only have a small amount of money deposited, There are many banks in Alanya. Any views on what would be the most suitable.

English speaking, lowest charges for non-resident. No Credit card nor cheque book required.

Is it possible to have savings account linked to current account and maintain on-line
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Old 30th June 2015, 10:31   #2 (permalink)
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Re: Best bank account for non-residents

We have found Garanti bankasi to be excellent (but we are not with the alanya branch), and as we can do all that we want on their excellent website do not actually need to visit the bank at all. You can pay all utilities online, by direct debit if you wish, you can even pay your speeding fines and car road tax through the internet. I have found excellent service, the customer service rep even sends me an email when an interest bearing account matures so that we do not have money sitting in the current account earning no interest.
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Old 30th June 2015, 10:41   #3 (permalink)
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Re: Best bank account for non-residents

What sort of interest rate can you get in Turkey?.
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Old 30th June 2015, 11:02   #4 (permalink)
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Re: Best bank account for non-residents

at the moment depending on which bank between 9% and 11%
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Old 30th June 2015, 11:05   #5 (permalink)
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Re: Best bank account for non-residents

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at the moment depending on which bank between 9% and 11%
But do not be mislead by the high interest. It is only available in TL accounts, the interest is taxed (at I think 8%) and the exchange rates mean that after a while if you wish to convert it back to the original currency you will never get the whole amount back.
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Old 30th June 2015, 11:10   #6 (permalink)
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Re: Best bank account for non-residents

15% tax is deducted at source on the interest on a monthly account - 12.5% tax on a six monthly account and 10% tax on an annual account - yes on TL savings accounts
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Old 30th June 2015, 15:17   #7 (permalink)
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Re: Best bank account for non-residents

Quote:
Originally Posted by sleepless View Post
Hi
I only need a bank account for paying utilities and property tax. Will only have a small amount of money deposited, There are many banks in Alanya. Any views on what would be the most suitable.

English speaking, lowest charges for non-resident. No Credit card nor cheque book required.

Is it possible to have savings account linked to current account and maintain on-line
We are with Garanti in Alanya (opposite KIPA). A great English speaking girl upstairs is really helpful.
We pay utilities online (Electric, Water, Maintenance Fees). Have an E-Savings account & we can swap money between accounts easily online.
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Old 1st July 2015, 10:41   #8 (permalink)
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Re: Best bank account for non-residents

Hi

Thanks for your advice especially about the interest account. I'm thinking of just putting in enough each year to pay utilities, taxes, bit of spending money etc. (say £500pa). So I won't be changing back, hopefully.

May as well put into an interest account and moving to current as and when needed.

Is there a minimum balance for savings accounts?

The Garanti e-accounts look good - do they charge for a current account (don't need cheque book, just debit card)?.

PS I'm wary of bank accounts as I have a French one which tries to charge you for coming through the door!

I have a Nationwide Debit card with which I can withdraw cash at a good conversion rate without any charges (getting 422tl to £ last week) and a Halifax Credit card for purchases at a good conversion rate with no fees

Last edited by sleepless; 1st July 2015 at 10:49..
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Old 1st July 2015, 11:06   #9 (permalink)
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Re: Best bank account for non-residents

Quote:
Originally Posted by sleepless View Post
Hi

Thanks for your advice especially about the interest account. I'm thinking of just putting in enough each year to pay utilities, taxes, bit of spending money etc. (say £500pa). So I won't be changing back, hopefully.

May as well put into an interest account and moving to current as and when needed.

Is there a minimum balance for savings accounts?

The Garanti e-accounts look good - do they charge for a current account (don't need cheque book, just debit card)?.

PS I'm wary of bank accounts as I have a French one which tries to charge you for coming through the door!

I have a Nationwide Debit card with which I can withdraw cash at a good conversion rate without any charges (getting 422tl to £ last week) and a Halifax Credit card for purchases at a good conversion rate with no fees
I don't think there is a charge for the current account. from what I read it is very important to set up your internet banking whilst you are in turkey and ensure that the phone number that is registered for this is your UK mobile so that you can access the mobile PIN that you need to input to make a transaction. I find Garanti an awful lot easier and cheaper than my UK Barclays account to deal with.
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Old 1st July 2015, 11:29   #10 (permalink)
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Re: Best bank account for non-residents

there is a small charge for a current account - taken twice a year - unless you have 2 standing orders with them in which case there is no charge ....
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