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Old 1st June 2018, 22:11   #1 (permalink)
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Garanti Transaction Limit on new Accounts

Hi,

I'm due to move to Ankara next week, and the bank that we're recommended to use is Garanti (tri currency account in TRL/GBP/USD).

We're given a relocation allowance to furnish our new place, but the guys I know that have gone out recently have been subject to a 2000TRL transaction limit which is causing issues when buying the bigger items!! The only workaround they've found so far is to use their own UK credit cards, but then they get stung with fees and a poor exchange rate.

Has anyone experience with transaction caps on new accounts? Surely if there is money in the account then the bank shouldn't care how you spend it!!

My understanding is that the limit increases over time, but that doesn't help with month 1 when I need to furnish a house!

Thanks,
Jon
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Old 2nd June 2018, 01:58   #2 (permalink)
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Re: Garanti Transaction Limit on new Accounts

A lot of use is made of Bank Transfer of funds for big ticket items, such as buying cars etc. Shops will be very happy to give you all the details, which you can use on your mobile phone to complete the deal; the shop will have the funds within hours, and usually minutes. That, I think, will not be subject to a low limit, but be linked to funds.

I have issues with Garanti branch efficiency/knowledge, but their saving grace is their on-line banking, and associated Web site, which is excellent (and in English). They also have very good telephone help-line support in English.

You can also set up a Virtual Credit Card for on-line shopping. You can pre-load that card and use it for World-wide shopping on-line with almost everything except PayPal/Ebay which will not accept a Turkish Bank Card.

Ian

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Old 2nd June 2018, 05:51   #3 (permalink)
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Re: Garanti Transaction Limit on new Accounts

Thanks Ian, I will checkout both those options. Hadn't considered the pre loaded credit card, but that's a good idea...
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Old 2nd June 2018, 08:47   #4 (permalink)
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Re: Garanti Transaction Limit on new Accounts

I just phoned the branch and asked them to up the limit, no problem.
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Old 2nd June 2018, 10:43   #5 (permalink)
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Re: Garanti Transaction Limit on new Accounts

Quote:
Originally Posted by tomc1984 View Post
I just phoned the branch and asked them to up the limit, no problem.
You were lucky. My branch will not do that without you going in and sitting down. It is to stop fraud, I guess. You can lower the limit, but not increase it on-line or on the phone. Another example of Garanti inconsistency - I have never thought they invested much in staff training.

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Old 2nd June 2018, 10:50   #6 (permalink)
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Re: Garanti Transaction Limit on new Accounts

Certainly one of my colleagues tried to get it increased, but was told it was a bit like a credit limit on a credit card, you have to build up trust / history before they increase it.. bit rubbish really for a debit account!
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