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Old 20th September 2009, 16:08   #1 (permalink)
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Bank accounts

Hi all:

pre- arranged Bank Accounts

In the run-up to taking possession of our 'Spring' apartment from Mecitoglu, they (Mecitoglu) have opened a bank account in my name, on my behalf, with Garanti Bankası in Manavgat.... for the purpose of making final build payment, running the apartment afterwards etc......

Has anyone else had this done (pre-arranged account opening), and is it safe to go ahead and transfer monies into this 'arranged' account prior to arriving in Turkey, in order to finalise completion payments and taking ownership of the apartment.?

I know this sound nieve, but dealing with this company has been so easy and trouble free so far..... It would be good to hear positive advice, but also good to hear otherwise, so I can make alternative arrangements if necessary.

Any feedback / advise would be greatly appreciated.

Rgds., Don & Dawn S.
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Old 20th September 2009, 16:46   #2 (permalink)
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Re: Bank accounts

when i opened a bank account in manavgat (deniz bank) i could not have it in joint names as my husband was not with me at the time, i took his passport and tax number with me. i therefore have it in my sole name. i have just deposited money from the sale of a property here in side at the hsbc bank where we also have an account this time in both our names, however i need some bill or paperwork to verify my home address before they will let me transfer the money to the uk. i would be very suprised if someone could open an account on your behalf, so be carefull.
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Old 20th September 2009, 16:56   #3 (permalink)
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Re: Bank accounts

Hi,

You need a Turkish tax number from the tax office, your passport, and proof of address to open a bank account. Oh and you need to sign the paperwork personally. I would be very suspicious of this. It appears to be a tax avoidence ploy. You should only pay money into the registered company bank account of Mecitoglu. Do not pay any money into a personal bank account. It is money laundering.
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Old 20th September 2009, 17:06   #4 (permalink)
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Re: Bank accounts

We have also a spring apartment,and went to Turkey in August to make the finish payment.People from Mecitoglu called to the bank,of the last payment is on the bank,the always no of you have money on the bankaccount,white you have open.We also no that the last payment is a part cash,and a part banktransfer.The part cash is a strang thing,because the don't want al the money by banktransfer.We think that it is Turkish(tapu is lower).
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Old 20th September 2009, 17:08   #5 (permalink)
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Re: Bank accounts

Hi donss
If you dont feel confortable with the arrangment then dont do it, simples!!!
Its your hard earned cash be carefull.
martin
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Old 20th September 2009, 17:41   #6 (permalink)
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Re: Bank accounts

MaryGerard,

Quote

"The part cash is a strang thing,because the don't want al the money by banktransfer.We think that it is Turkish(tapu is lower)."

This is against the law in Turkey. Do not do this. The purchaser has everything to lose (even your apartment!) and the developer avoids tax. The purchase price equals the Tapu price Equals the amount of money paid into the developers tax registered bank account.

As simple as that.
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Old 20th September 2009, 18:21   #7 (permalink)
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Re: Bank accounts

Hi Don & Dawn,

We have an apartment next door at Four Seasons. This is the arrangement we had also. They like you to have a Turkish bank account - so that you can make direct payments for your running bills. That said Mecitoglu have recently introduced a card credit payment system - with which you can pay your bills over the secure on-line internet system (aftersales introduce this to you when you take possession of the apartment).

We have found the Garanti bank to be safe & good. They usually have an English speaking teller available in both Manavgat & Side branches. They also have english speaking people on the telephone banking system. Finally, you can use internet banking with Garanti (and they usually allow you to open 3 accounts (TL, GBP & Euro) so you can take advantage of the differences in exchange rates from time-to-time.

The final payment for us was done exactly as you describe. I arranged via my UK bank to transfer the final payment into MY account with Garanti (cost of this was about 35- with Barclays) then, when we got over there, and were happy that everything was OK, then the aftersales people take you to the bank and you arrange the transfer - NB: It is done electronically and not via cash!

Mecitoglu then sorted out the TAPU and delivered this to us (there was a short delay due to the change in legislation at the time). Nb: It is NOT a tax scam or any of the other things you have been warned about by others - evidenced by the fact that the full purchase price of the property is shown on the TAPU (in TL).

Hope this is helpful and puts you mind at rest.

Have a fab time & enjoy your apartment - It's in a wonderful place.

Cheers

Leo.
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Old 20th September 2009, 18:40   #8 (permalink)
les&Tasha
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Re: Bank accounts

Leo,

I bow to your personal experience with this developer. I am still puzzled how they opened a bank account without your presence? I do not see how this can be done. You cannot open a bank account in someone else's name. Period.
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Old 20th September 2009, 19:59   #9 (permalink)
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Re: Bank accounts

Thanks to all who have read and replied to my posting:

Despite the usual situations where you would normally assume that an account could only be opened in person, it appears that Mecitoglu have the 'ability' to do this on behalf of their clients.

I have been supplied with an account no., an IBAN No. and a SWIFT No. for an account in my name only, at Garanti Bankası, even though I have had no direct contact with the bank, nor sighted or signed any banking agreement.

Think I'll just leave my monies in my UK account and transfer directly to the builder (remotely) when the time comes.

Cheers
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Old 20th September 2009, 23:13   #10 (permalink)
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Re: Bank accounts

Hi Les& Tash,

I understand that they have a standing arrangement with the builder. When you sign-up for the purchase (off-plan a couple of years before) they get you to sign the bank forms. They then go and sort the account for you. The bank sends your card to their office (as you need at least a holding adress in Turkey to proceed) and then you pick you cards and books (in a bank sealed envelope) from the builder when you next visit. They then take you to the bank to sign for them (several pages and you have to sign at the bottom of each one). Hope this explains.

Worked OK for us.

Cheers

Leo.
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