Monday, February 23, 2015

Beware or you might be caught by surprise

Over the last decade the Turkish banking system has developed into a powerful and very modern business area with a long list of active players.

Some of the banks are still under Turkish ownership while others have been swept into European banking groups.

Ten years ago loans were very difficult to obtain and interest rates were sky high. On the other hand the banks offered their services without too high transaction fees.

Today this has changed completely. Loans are given faster than McDonalds serves a burger and fees have sky rocketed.

Where this is good news for those who wish to finance their dream apartment by a local mortgage is also calls for attention to those who just wish to have a bank accounts for minor transactions, since this can end being very costly.

Most of the banks in Turkey are charging a monthly fee as high as 10 YTL per month per account AND sub-account that you hold. This fee is for nothing else than simply just having an active account in the bank.

And in case you do not really use your account, it can quickly cost you several hundred Turkish Lira for literally nothing.
Some banks offers to remove these fees in case you make your monthly payments of electric and water from your account.

A lot of apartment owners in Turkey have bank accounts without really using them. In case you are one of them, we recommend you to reconsider if this is needed and if your account should be closed down.

Because keeping the account might end up being costly...

Are you a customer at 2Base and have questions related to your possible bank account in Turkey? 

Then contact us by using our live-chat, email us or give us a ring...   

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