How to get the best out of AA and your computer
by gumball 06 Jul 2015, 12:26
Hi i have recently sold my apartment and have the money in my sterling account ( Garanti ) i want to leave the money in Turkey , what would be the best account to have my money in
Thanks
by christella 06 Jul 2015, 15:54
The best account has to be a sterling account put a couple of thousand pounds into Turkish lira because nobody knows where the rate is going
There are savers on here who has lost 30 40 percent of their money

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by gumball 06 Jul 2015, 16:28
Yes I already have it in a sterling account but not an interest account garanti have several savings accounts to choose from but I don't know which is best
by annabelle 06 Jul 2015, 17:07
The Turkish Sterling account pays little or no interest so if its interest your wanting it has to be in a Turkish Lira account .
Although like Chris said people have lost money by exchanging it back to Sterling after selling property in Lira .
So the best advise would be only transfer money that you can afford to leave for a few years for interest to grow ,chances are the Lira wont rise too much higher now but who knows.
Any Sterling that you don't want in Lira you would be better transferring it back to UK and sourcing the best interest rate you can get. there. Ann :roll:
by scottie 06 Jul 2015, 17:54
Garanti make charges for holding a GBP account account with them.
by gumball 06 Jul 2015, 21:00
Thanks for you replies interesting that they pay little interest on a sterling account tempted to change to lira with it being so good at the moment
by oldfogy 06 Jul 2015, 22:36
gumball wrote:Thanks for you replies interesting that they pay little interest on a sterling account tempted to change to lira with it being so good at the moment


''Original text removed because of wrong and misleading information.''

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But if you want to dip your toes into the investment world, then something like a short-term (30+ day) such as a 'Time Deposit'

Further information can be seen at Garanti bank you can find interest rates for time deposit accounts under "Accounts and Payments - TL Time Deposit Interest Rates" this will then tell you what rate you will get for the various amount invested and there are various terms, giving various rates.
http://www.garanti.com.tr/en/personal_b ... count.page?

You may also find this eDeposit calculator helpful.
http://www.bodrumbulletin.com/community ... calculator
by Juco 06 Jul 2015, 23:02
I think it depends on how you read gumballs post. To invest in the banks I agree with oldfogy you could end up losing, however if you are talking investing in actual cash say maybe £4k it is unlikely you will lose (my opinion) as the odds are the exchange rate is more likely to drop than rise further so if he purchases lira just now rather than later you could gain from it.

It is still a gamble though.

Juco
by bomkaz 07 Jul 2015, 05:14
Correct me if I'm wrong oldfogy but if they invest at four lira to the pound and it drops to three lira they Gain not loose ? £13333. Plus interest?

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