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Old 1st June 2018, 17:38   #1 (permalink)
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HSBC Premier account.

Deposit 100,000 TL, 16% interest, has anybody done this, what are the pros and cons. Any info much appreciated. Thanks.
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Old 1st June 2018, 17:43   #2 (permalink)
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Re: HSBC Premier account.

Will you ever wish to repatriate your money to the UK ?

Martin
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Old 1st June 2018, 18:02   #3 (permalink)
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Re: HSBC Premier account.

Yes, probably in 7/8 years.
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Old 1st June 2018, 18:33   #4 (permalink)
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Re: HSBC Premier account.

Have a look on XE.com you can look at historical graphs of exchange rate, most and almost all the times I checked the losses in exchange rate over the period far out weighed the gains in interest, even if you dont draw and compound it, there are a few exceptions but not many.
If you were putting money in to either live off over there or to pay bills such as Aidat/water/phone etc then not a bad idea.

My recent personal experience was selling up in November 17, the bank begged us to invest at the then rate of 13.5% last week I would have been in excess of £30,000 down not counting the interest to date which would have been about £7/8,000 we brought our money home and still have it all.

They also offered 3% on sterling at least I think it was 3% which wasnt too bad I suppose, but also be aware RTE may or may not bring in draconian controls on banks.

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Old 1st June 2018, 19:20   #5 (permalink)
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Re: HSBC Premier account.

has anyone used XE.com to transfer large sums of sterling to a turkish bank; and what was the experience?
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Old 1st June 2018, 20:22   #6 (permalink)
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Re: HSBC Premier account.

Quote:
Originally Posted by Donny Viking View Post
Deposit 100,000 TL, 16% interest, has anybody done this, what are the pros and cons. Any info much appreciated. Thanks.
16%??? where is that coming from?
I am also HSBC Premier, a lot more than that amount deposited and only 11% as per their published rates.

Last edited by gally; 1st June 2018 at 20:26.. Reason: .
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Old 1st June 2018, 21:06   #7 (permalink)
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Re: HSBC Premier account.

Quote:
Originally Posted by gally View Post
16%??? where is that coming from?
I am also HSBC Premier, a lot more than that amount deposited and only 11% as per their published rates.
gally - you need to go in to the bank and give them some grief - It usually works. Im currently getting 15% with TEB
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Old 1st June 2018, 21:30   #8 (permalink)
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Re: HSBC Premier account.

Quote:
Originally Posted by gally View Post
16%??? where is that coming from?
I am also HSBC Premier, a lot more than that amount deposited and only 11% as per their published rates.
A new account get's a far better rate. But have you looked since the interest rate hike .
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Old 1st June 2018, 21:54   #9 (permalink)
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Re: HSBC Premier account.

I’ve been corrected by my bride, we were offered 2.5% on sterling

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Old 2nd June 2018, 10:18   #10 (permalink)
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Re: HSBC Premier account.

Quote:
Originally Posted by yalimart View Post
Iíve been corrected by my bride, we were offered 2.5% on sterling

Martin
What bank was that with please? We're currently only getting 1.5% on sterling and thought that was pretty good!

Sara
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