Which banks are safe?

john1234


Joined: 20/04/2009
Posts: 321

Message Posted:
22/04/2009 08:12

Does anyone know if Turkish Banks like Garanti or Turk Bankasi are safer for YTL time deposit accounts?

Do they guarantee you up to a certain amount?



It seems that Garanti is giving very low interest rates compared to a few years ago but this may be safe?



Please help me out in putting together the puzzle...



Thanks!

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
22/04/2009 22:57

So, having banked with the RBS, tried a few Icelandic ones, lost money with the merchant bankers in America, you still have enough dosh left to try your luck in Turkey which is about to go belly up having fallen out with the IMF!? You have guts! Try Credit West paying 4.5% on monthly on Stg10K plus and very competitive on TL A/C's. Contact me if you wish to have an introduction with their Bank Manager.



Richard

karakum5c



Joined: 18/03/2008
Posts: 1021

Message Posted:
22/04/2009 23:06

Keep it under the mattress !





Remember the TRNC dont have sub prime mortgages---- just a lot of dodgy property developers bank rolled by_ _ _ _ _ _OH GOD !

PeeCee


Joined: 16/03/2009
Posts: 133

Message Posted:
23/04/2009 12:23

I was told by the bank that accounts with up to 20,000 euros are backed by Turkey under its guarantee policy should the bank default/go belly up. Was I told a porky pie?

TimothyCadman


Joined: 13/12/2007
Posts: 1040

Message Posted:
23/04/2009 13:20

No Bank, anywhere in the world, is safe.



All Banks to make a profit need to speculate to so as to be able to offer services. The simple idea of only providing the money they have in savings to those who wish to borrow and charding the borrower interest which in turn allows other borrowers to borrow and help keep the bank solvent and able to pay its way is impossible, unless interest rates were close to 75% interest on the amount borrowed.

girne


Joined: 14/01/2009
Posts: 438

Message Posted:
24/04/2009 16:04

OK guys lets get to the bottom of things.

I was once lıke you who to invest my monies with? are the banks save? etc

etc.

Having now worked for two of the largest banks in the TRNC and currently working for the Continental Bk l know what goes on behind closed doors.

I can tell you that all banks are guaranteed and each account is guaranteed for 20.000 Euros or the equivelant. no matter how many accounts you have in each bank.

All banks have a reserve account to allow for any loses. All banks are İSO'd guaranteed and the Main Bk checks on the banks investments frequently.

As l am sure a lot of you out there have seen the interest rates fall dramatically this is not because the banks are going under this is due to the Main Central Bank reducing all rates to keep the economy aflow.

This is their way of guaranteeing the banks as no one wants a replay of what happened 10 years ago

If anyone would like to talk about this please call me on 05338417388 or land line (0392)

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
24/04/2009 17:04

girne

who is the guarantee from?

maid marion


Joined: 28/03/2008
Posts: 9

Message Posted:
26/06/2009 13:46

tyra we bank with iktisat bank when we opened the account we dealt with someone called tyra would that have been you we are concerned with reading lots of conflicting stories someone says that there are only two banks which are halk bank being one cant remember the other but do you think there is any truth in this

Blackpoolfan


Joined: 03/12/2008
Posts: 1568

Message Posted:
26/06/2009 13:53

Read message 6, Girne correctly states all banks have reserve funds that can't be touched so panic over just don't have more than 20,000 in one account to play it on the safe side, panic over...............

girne


Joined: 14/01/2009
Posts: 438

Message Posted:
26/06/2009 15:27

Yes l am the same Tyra and am at present with the Continental bank in K/oglu.

All banks are guaranteed and as l have said before all accounts are guaranteed for 20,000 euro's or the equivelant.

Rumours will always go arround with the negative but as long as the bank you bank with has an ISO number then you know that the bank is safe and if anything was to happen you would get the first 20,000 euro's back from each account. This is why we advise our customers to divide their accounts.

İf you any othere questions please call me 05338417388.

girne


Joined: 14/01/2009
Posts: 438

Message Posted:
26/06/2009 15:31

the banks are guaranteed by the Central Bank.

rocking


Joined: 05/11/2008
Posts: 421

Message Posted:
26/06/2009 17:52

Perhaps you can help me Girne, I often wonder where money can go and earn 14 per cent up to 19 per cent interest, it sounds too good to be true, perhaps you can let me know where this is invested. On CNN yesterday they were talking about Sanford who promised 14 per cent upwards and turns out it was a Ponzi fraud, similar to pyrimid selling, and that no one should go with these big interests. I was here in about 1993 (i think) when all those banks went to the wall.

jacko99


Joined: 26/06/2009
Posts: 52

Message Posted:
26/06/2009 18:11

hang onto your hats some banks here to incur serious losses intime with some builders defaulting now and doing a runner the state gaurentee is worhless do not bank on it ask what happened in 2001 and 90 to the charitys that lost money and many cypriots they got worthless shares and by the time they got some cash back the tl had devalued many of you are deludeing yourself in a fools paradise remember high interest means high risk see bernie madoff and alan stanford its a pyramid scam be warned

jacko99


Joined: 26/06/2009
Posts: 52

Message Posted:
26/06/2009 18:12

here here rocking glad i am not the only sceptic ther will be many brits crying soon if they do not see the writing on the wall

yunus



Joined: 14/05/2009
Posts: 327

Message Posted:
26/06/2009 18:15

halk bank and tc ziraat bank are both turkish government owned banks, and not privately owned by individuals. your money is fully guaranteed. unfortunately 12% on tl

yelll4ever


Joined: 16/07/2009
Posts: 8

Message Posted:
21/07/2009 19:07

hi



credit west and türk bank are not türkish bank..they r local banks of the cyprus..turkısh banks are şekerbank,ziraatbank,işbank ,teb bank..but skerbank giving the best rate %12.25 on TL..by the way its over 60 years bank and they have 260 branch ın teh turkey

look2


Joined: 17/07/2009
Posts: 107

Message Posted:
21/07/2009 19:08

Merrill Lynch was !

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
21/07/2009 19:14

Credit West has to be safe, they keep short changing me!



Richard

jay76


Joined: 17/07/2008
Posts: 532

Message Posted:
21/07/2009 19:34

Give it to your builder

geronimo


Joined: 30/08/2009
Posts: 296

Message Posted:
30/08/2009 12:49

How would you rate HSBC and Garanti Bank?

cyprusairsoft



Joined: 22/06/2009
Posts: 2066

Message Posted:
30/08/2009 12:52

girne info is spot on also turk bankasi is long established bank over 100 years and has main branches in london as well



dont worry invest

karakum5c



Joined: 18/03/2008
Posts: 1021

Message Posted:
30/08/2009 12:55

HSBC like the rock of Gibralter !