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CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
20/11/2008 15:43

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Message 1 of 180 in Discussion

Thought I'd post our own topic with our banks full name for anyone who needs banking advise or alternatively you can email me on pazarlama@creditwestbank.com for privacy.



negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
20/11/2008 15:45

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Message 2 of 180 in Discussion

i've been with Granati, HSBC and now Credit West and......



Credit West are the best by far.......





Nick.



dozza67


Joined: 11/07/2008
Posts: 607

Message Posted:
20/11/2008 15:57

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Message 3 of 180 in Discussion

That's a very positive statement negativenick??



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
20/11/2008 16:00

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Message 4 of 180 in Discussion

Thank you Nick very much appreciated, we try to provide that extra with our 2 English Speaking branches.



negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
20/11/2008 16:00

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Message 5 of 180 in Discussion

i'm not negative for the sake of it - just when there is a need to be negative.



Nick



negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
20/11/2008 16:04

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Message 6 of 180 in Discussion

Credit West Rep....



I've dealt with your English staff at both branches and have been very very impressed....



The lad in Karalanoo (don't know his name) is world class.....



Biker



Joined: 11/01/2008
Posts: 396

Message Posted:
20/11/2008 17:15

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Message 7 of 180 in Discussion

Credit West Rep

My memory is probably tricking me.



Are you the same Bank that went that ran away with the customers money in the nineties (Kredi Bankasi). And the Turkish government had to cough up all the money to the customers.

Forgive me if you are not.



Biker



negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
20/11/2008 17:20

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Message 8 of 180 in Discussion

Biker - your posting gets my vote for daftest posting of the month......





Nick



Biker



Joined: 11/01/2008
Posts: 396

Message Posted:
20/11/2008 17:52

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Message 9 of 180 in Discussion

negativenick



Do you know anything about Kredi Bank that went bust and had to be rescued by the government about a decade ago?



Is CreditWest this same bank or is it not related at all?



rsalih


Joined: 01/11/2008
Posts: 306

Message Posted:
20/11/2008 18:30

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Message 10 of 180 in Discussion

not the same bank... Kredi Bankası was owned by the owners of Astro supermarket...



deecyprus4


Joined: 27/07/2008
Posts: 3452

Message Posted:
21/11/2008 09:19

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Message 11 of 180 in Discussion





* Business



* Markets

* Credit crunch

* Economics

* Interest rates

* Recession

* Blog

* Viewpoint

* On America

* On Europe



Turkey to up bank deposit guarantee within week-TV



* Reuters, Friday November 21 2008



(Adds details, background)

ISTANBUL, Nov 21 (Reuters) - Turkey's government will raise the state guarantee on savers' bank deposits within a week as one of a series of measures designed to shore up the weakening economy, broadcaster CNN Turk reported on Friday.

The report came a day after senior ruling party sources said Turkey was set to agree to an International Monetary Fund deall giving access to $20 billion to $40 billion in funds if needed.

Turkey's current government guarantee covers a maximum 50,000 lira ($30,000) of bank deposits.

Broadcaster NTV carried a similar report and said the decision had emerged during Prime Minister Tayyip Erdogan's official visit to India.

The reports came after newspapers



deecyprus4


Joined: 27/07/2008
Posts: 3452

Message Posted:
21/11/2008 09:21

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Message 12 of 180 in Discussion

http://www.guardian.co.uk/business/feedarticle/8050622 full article



Middle Easter


Joined: 13/06/2007
Posts: 146

Message Posted:
21/11/2008 09:26

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Message 13 of 180 in Discussion

rsalih....providing your information is correct, you are still making a big assumption that the "owners of Astro supermarket" & Credit West Bank are also not linked.



The way this topic opened up by 'creditwestrep' & 'negativenick' was almost like a double act.....suggest anyone interested does their homework first!



deecyprus4


Joined: 27/07/2008
Posts: 3452

Message Posted:
21/11/2008 09:51

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Message 14 of 180 in Discussion

it was in the guardian not the sunday sport



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
21/11/2008 11:08

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Message 15 of 180 in Discussion

Biker no we are not the same bank, we are totally different they were closed down and the owner went to jail unable to operate a finanical institution ever again.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
21/11/2008 11:21

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Message 16 of 180 in Discussion

Middle Easter please feel free to browse around our website sites http://www.creditwestbank.com or http://www.altinbasholding.com do you see the name Salih Boyacı anywhere who was the owner of the now closed Cyprus Credit Bank which has nothing to do with Creditwest Bank Ltd.



newscoop


Joined: 23/12/2007
Posts: 2197

Message Posted:
21/11/2008 11:41

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Message 17 of 180 in Discussion

creditwest is the modern name for Altinbas bankasi which has been around since the early nineties. It survived the crisis in 2000 and to my knowledge none of it`s then or current directors have been implicated in any wrongdoing.



keithr


Joined: 20/08/2008
Posts: 720

Message Posted:
21/11/2008 18:18

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Message 18 of 180 in Discussion

Great bank,great rates and very helpful staff,both in Kangerangeroo and Catalkoy. Top marks from me !!



How many bank managers in Britain do you know who would happily give out their mobile number,or even any direct number at all ???



Figen Kuman has without any problems.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
21/11/2008 18:26

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Message 19 of 180 in Discussion

Thank you very much for your kind words I will pass them onto Figen and her teams at both branches.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
26/11/2008 10:19

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Message 20 of 180 in Discussion

Hi everyone, any banking questions you may have Id rather deal with them on this thread.



kavenkoy


Joined: 10/04/2008
Posts: 1787

Message Posted:
26/11/2008 11:28

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Message 21 of 180 in Discussion

how does the sterling/lira accounts work .



i opened them last month at credit west (only with small amounts) and was wanting to send cash over or pay in everytime i am over .Then over period i will have money there and have credit reference when i finally move.



if say i paid £300 into lira now ,is it the rate on the day or the rate say if i sent it via uk that it arrives etc .

if so what rate of interest would it accrued etc



kav



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
26/11/2008 11:55

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Message 22 of 180 in Discussion

Kavenkoy seeing that you have opened a fixed term deposit when your money goes in from abroad or when you are here in Northern Cyprus on for example the 15th day of a monthly deposit then you only receive interest on the newly deposited amount for the remaining 16 days in that month if the given month is 31 days, the initial sum deposited on day 1 of course gets the full 31 days and then the whole combined is renewed for a further 30, 31 or even 28 days. I hope that was clear enough.



dozza67


Joined: 11/07/2008
Posts: 607

Message Posted:
26/11/2008 12:35

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Message 23 of 180 in Discussion

Keithr, we agree with everything you say about Figen, Naci and all the great staff at Karaoglanoglu. It's a pleasure to walk in there and be greeted by your name and never kept waiting. We have never had service like this in all our 60-odd years.

Will be glad when they have internet banking.



denali2007


Joined: 04/01/2008
Posts: 111

Message Posted:
26/11/2008 13:41

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Message 24 of 180 in Discussion

Have alays dealt with Figen direct by e mail and she is always courteous and promt in her dealings. From what I have heard about other banks in TRNC I think we got the best by far.

We look forward to popping in to see her on our next trip in May to introduce ourselves personally.



joseph


Joined: 17/04/2008
Posts: 709

Message Posted:
26/11/2008 16:34

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Message 25 of 180 in Discussion

Creditwest rep came over to Kyrenia to meet me for a chat while out in TRNC a couple of weeks ago in response to questions asked on this site. He was very forthcoming on all questions asked and I was very impressed, so much so,

I opened a current and savings account @ branch in Catalkoy. I did as much homework as was poss from here in the UK and was happy with the responses re CreditWest on Cyprus44 postings.



One question for CreditWestRep on which I would like clarification?

Am I correct in saying your manager in Catalkoy was right to inform me that your bank does not cover any account holder who is a victim of internet fraud unlike here in the UK where such fraud is covered by UK banks?

If so then I have grave concerns re your internet banking securities and would be reluctant to use this facility?

Joseph



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
27/11/2008 09:58

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Message 26 of 180 in Discussion

Thank you for your kind words joseph, I will get back to you via private email about the banks internet banking security as I have relayed your question on to our IT specialists.



Jayne62


Joined: 19/10/2008
Posts: 93

Message Posted:
27/11/2008 11:36

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Message 27 of 180 in Discussion

TO Creditwest Rep,

We are coming over to North Cyprus in 3 weeks time, and would like to open a bank account, as we are purchasing a property. Would you please email me with any relevant information.

Is there a set amount of money that we need to pay in to open it?

Can we transfer money from England to Creditbank, quite easily?

Bank Interest Rates?

Also lastly, the question that Joseph has asked is very important, would we be covered for internt fraud? How safe is your money in the account, if the bank was ever taken over?

Please reply to my email jaynestaff@hotmail.co.uk

thanks Jayne



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
27/11/2008 16:35

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Message 28 of 180 in Discussion

Jayne62 will get back to you with all the answers as soon as possible.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
28/11/2008 10:54

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Message 29 of 180 in Discussion

Jayne62 Figen the manager of our expat branches sent you a reply did you receive it?



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
01/12/2008 12:21

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Message 30 of 180 in Discussion

Just wanted to remind everyone that we also offer insurance products feel free to email me for a quote on pazarlama@creditwestbank.com Im sure you'll find we are very competitive.



cocos


Joined: 04/04/2008
Posts: 129

Message Posted:
01/12/2008 12:27

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Message 31 of 180 in Discussion

Creditwestrep can you confirm that your bank is not one of the ones in TRNC who has granted mortgages to landowners where the land was subject to contracts of sale?



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
01/12/2008 14:41

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Message 32 of 180 in Discussion

cocos all banks have carried out such transactions, it was normal for projects to be financed by banks in the TRNC as first the plot of land was given over to the bank as collateral in order to borrow funds to build the development. Then as we all know the developers then sold off plan to buyers raising additional project finance, there was no law to stop this, in fact your agreement was between yourselves and the development company, the land at this stage is not bound to you legally unless you register it at the land registry office. This was the case until early this year when a new law was passed restricting credit being extended to developers where they have sold off plan, developers now have to obtain permission when borrowing on the land from interested parties who have signed and registered their purchase agreement with the land registry office. If the land has been used as collateral the land registry office should warn you when you register your agreement/interest with them.



cocos


Joined: 04/04/2008
Posts: 129

Message Posted:
01/12/2008 15:43

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Message 33 of 180 in Discussion

Yes, it may have been normal, but it is fraud. The banks would have been well aware the project would have been subject to contracts of sale and it is gross negligence on their parts to lend money on land in those circumstances. As you know it was not possible until this year to register your contract and get some protection(only time will tell what that protection is) this doesn't help all the people who have found out that the property they bought and paid for stands on mortgaged land. What are you going to do when the landowner doesn't pay the mortgage back? Are you telling me you're not going to foreclose and auction the land? That the property purchasers aren't going to lose their properties?



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
01/12/2008 16:48

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Message 34 of 180 in Discussion

Luckily we do not have any such cases and new applications are subject to the new law where registered interested parties have to be consulted and agree to developers when they wish to borrow money from banks using the land as collateral.



AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
01/12/2008 16:50

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Message 35 of 180 in Discussion

Jayne62

You need to re-assure yourself about what would happen if the bank you were investing in collapsed. There was a nasty period about 8 years ago when there was I think about 10 banks that collapsed in the TRNC (without digging out old files I can't give you accurate information). The situation at this moment is not looking good. See my posting "Please fasten your safety belts" on page two of the thread listing. (other pages located at the bottom of the first page)

AJ



Mountain Edge



Joined: 23/02/2007
Posts: 199

Message Posted:
01/12/2008 18:09

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Message 36 of 180 in Discussion

I have emailed twice now to see what interest I might hope to make on a certain amount of money but have not received a response to either email.

Maybe it just isn't enough.



Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
01/12/2008 18:37

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Message 37 of 180 in Discussion

Cocos

Very good point re bank, mortgages and fraud. I can't believe the response of CreditwestRep 'Luckily we do not have any such cases'



rtddci


Joined: 29/12/2007
Posts: 842

Message Posted:
01/12/2008 19:00

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Message 38 of 180 in Discussion

CreditWestRep wrote

'....and new applications are subject to the new law where registered interested parties have to be consulted and agree to developers when they wish to borrow money from banks using the land as collateral.'



What new law? I know about registering contracts but haven't heard this bit.



kibrissibel


Joined: 18/02/2008
Posts: 562

Message Posted:
01/12/2008 19:55

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Message 39 of 180 in Discussion

Rtddci - this is what the Estate Agents Law states:



21. (1) (A) recorded goods owners could not mortgage the real estate sold by a sales contract. But in case seller and buyer agree they can mortgage the real estate. Real estate(s) which were sold by a contract are restricted by District Title Offices. Furthermore any kind of sales contract between real estate agent or real estate companies and owner of the real estate, is registered on District Title offices within 21 days paying required charges.

(B) If parties don’t agree, registered real estate owners could not mortgage the real estate as well as they cannot make any contract on mortgaged or restricted real estates.



HOWEVER, the part of this law which covers crime and punishment for breaches of this law DOES NOT cover article 21 !



Sibel



kibrissibel


Joined: 18/02/2008
Posts: 562

Message Posted:
01/12/2008 20:18

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Message 40 of 180 in Discussion

Of course this only applies to land where the contract has been registered which does not already have a mortgage on it. People who have registered their contracts, only to find a mortgage already existing, are in a dire situation.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
02/12/2008 09:39

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Message 41 of 180 in Discussion

Mountain Edge I have emailed you again today with a copy of our reply to your original enquiry on the 6/11/08, please let me know if you do not receive anything today or alternatively supply me with another email address to pazarlama@creditwestbank.com



Mountain Edge



Joined: 23/02/2007
Posts: 199

Message Posted:
02/12/2008 14:05

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Message 42 of 180 in Discussion

Have just sent you a different email address. Hopefully this one works



Cheers



breezyboy


Joined: 14/05/2007
Posts: 1179

Message Posted:
02/12/2008 16:59

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Message 43 of 180 in Discussion

Some people just seem to want to have a go at Creditwestrep. Ask him if his bank is one which is party to a problem which cannot have been easy for banks to police and then when he says they have no accounts where forclosure and forced sales will be happening and someone is upset with his answer

You want to try asking some of the other banks questions like this. You wouldnt get any answers as candid as his if any at all. In some cases my experience tells me that some staff wouldnt have a clue how to answer.

I have no axe to grind as I dont have an account with this bank - yet. I have a meeting in 3 weeks to discuss opening one as I am already impressed with these people far more than one other bank I am with.

As for the security of banking in TRNC you have to make your own mind up, but there is plenty of material to research on the web regarding the sytem and the changes made after the collapse of 2001.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
05/12/2008 10:38

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Message 44 of 180 in Discussion

Just to let everyone know that we will closed for business due to Bayram holidays from the 8th to the 11th December 2008.



Mountain Edge



Joined: 23/02/2007
Posts: 199

Message Posted:
05/12/2008 11:00

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Message 45 of 180 in Discussion

Still no email received, as yet, on either the first one or the one I gave you the other day.



moonoverwater


Joined: 06/08/2008
Posts: 224

Message Posted:
05/12/2008 11:25

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Message 46 of 180 in Discussion

Credit West bank are coming to moon over the water on the 13th dec our Christmas bazaar to answer any quires about there bank at 12ish there will also be charity stalls from bark sos in the day time & Anna live singing Christmas songs in the night from 7pm



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
05/12/2008 14:29

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Message 47 of 180 in Discussion

Im really suprised Mountain Edge we have emailed you 3 times you are the only person we have had this problem with, may I suggest if you are in Northern Cyprus you visit our Karaoğlanoğlu Branch and see our Branch Manager Figen who will be able to give you as much inforrmation as you require.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
05/12/2008 14:37

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Message 48 of 180 in Discussion

Sounds like everyone will have a great time moonoverwater, put the logs on that fire place and the hot pot in the oven our team from Creditwest Bank will be there to answer any banking questions but we also intend to enjoy the day so why dont everyone come along and enjoy the hospitality of Moon Over the Water. PS Heard Anna sing before shes great.



negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
06/12/2008 19:37

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Message 49 of 180 in Discussion

i'm going - are you giving any freebies out, Creditwest rep ?



Like money !



Nick



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
12/12/2008 10:19

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Message 50 of 180 in Discussion

negativenick come along to our stand we will see what we can do at worst you have a drink on me.



I hope there will be a good tun out tomorrow, we will be at Moon over the Wate from 12.30pm onwards feel free to come along and meet some of our team, we will happy to answer your questions about deposit accounts, creditcards, moneygrams, insurance.....



dozza67


Joined: 11/07/2008
Posts: 607

Message Posted:
12/12/2008 12:51

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Message 51 of 180 in Discussion

Where is Moon over Water please?



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
12/12/2008 14:21

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Message 52 of 180 in Discussion

Going on the main road from Famagusta to İskele its located on the right side looking onto the sea, "Moon over the Water Restaurant", the will be hot pot and other foods prepared by the owners, everyone is welcome.



Cyprusunday


Joined: 16/06/2008
Posts: 53

Message Posted:
12/12/2008 21:37

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Message 53 of 180 in Discussion

How about the same on the Westside of Girne



Maddie



Joined: 16/11/2008
Posts: 147

Message Posted:
13/12/2008 17:12

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Message 54 of 180 in Discussion

Creditwest Rep I would be interested in discussing opening an account. Is there a plan for a representative to be available in Girne anytime soon?



Tbl62


Joined: 03/12/2008
Posts: 83

Message Posted:
16/12/2008 19:42

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Message 55 of 180 in Discussion

hi Creditwest REP

Please can you advise me of your rates for YTL monthly deposit account



Thank you



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
17/12/2008 11:33

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Message 56 of 180 in Discussion

Cyprusunday if you would please contact me direct on email pazarlama@creditwestbank.com Im sure we can arange to come along to one of your gatherings.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
17/12/2008 11:37

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Message 57 of 180 in Discussion

Maddie we have 2 full English speaking branches in Girne, one at Karaoğlanoğlu near Tempo supermarket and the other at Çatalköy next to the new Lemar supermarket, feel free to pop in at which ever one is convenient and talk to our bankers there who will give you all the infomation you require and help open your accounts. Alternatively email me on pazarlama@creditwestbank.com to arrange an appointment to meet the Manager of the 2 branche detailed above.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
17/12/2008 11:41

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Message 58 of 180 in Discussion

Tbl62 are you in North Cyprus? maybe you can pop into one of our Expat branches in Girne or altenatively email me on pazarlama@creditwestbank.com to arrange a meeting or if you are aborad we can provide information if you kindly email me the curency, amount you intend to deposit and for what period.



Wine Man


Joined: 11/09/2008
Posts: 74

Message Posted:
19/12/2008 21:16

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Message 59 of 180 in Discussion

Where abouts are you in Girne? I am visiting in Feb '09.



MrsSnakes



Joined: 19/12/2008
Posts: 1100

Message Posted:
19/12/2008 22:37

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Message 60 of 180 in Discussion

Mr Snakes and me went into Creditwest and opened our accounts last month on our visit to NC. We took our contract for our home and passports and some ID for our address in England. The staff were were extremely curtious and helpful and the whole process was easy. I had no problem logging onto there internet banking. Back in Blighty at NatWest, I have had countless problems and ineffecient service despite being a customer for 33 years. Thank you CreditWest.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
22/12/2008 12:35

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Message 61 of 180 in Discussion

Wine Man we have full English speaking branches in Karaoğlanoğlu close to Tempo supermarket and Çatalköy branch next to the new Lemar Supermarket. The manager for both branches is Mrs Figen Kuman tel no 822 4208 and 0533 8703131-2-3 if you would like any more information about our servcies or details of how to get to our branches. You can also email me at pazarlama@creditwestbank.com with your questions.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
22/12/2008 12:37

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Message 62 of 180 in Discussion

Mrs Snakes thank you for your custom, we value our customers and believe they deserve the best service we can provide.



keithr


Joined: 20/08/2008
Posts: 720

Message Posted:
22/12/2008 21:04

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Message 63 of 180 in Discussion

I'll be putting more money into Creditwest as HSBC have dropped their interest rates for 30 days accounts to 17.45 %. Getting 19% at CW.



BigBen


Joined: 30/11/2008
Posts: 150

Message Posted:
23/12/2008 14:43

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Message 64 of 180 in Discussion

Creditwest formerly known as the Altinbas Bank, has no conection with the Kibris Kredit Bank (In Liqiudation) nor has any conection with the Boyaci brothers.



Creditwest Bank is a subsidiary of the Altinbas Group of companies, other known concers with in the group is the Alpet (also known as Altinbas PetroL) and Altinbas Goldsmiths with several branches on the hight street.



Last year they hold the record for highest tax payers in TRNC.



I can not comment as to the quality of their banking services (I do not bank with them), but judging from their last published Balance Sheet they are safe.



tonyhickey1


Joined: 21/12/2008
Posts: 3

Message Posted:
24/12/2008 19:29

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Message 65 of 180 in Discussion

Is it possible to open an account by the internet or do we have to open an account when we visit Northern Cyprus in March 2009. Many thanks Tony Hickey.



spud1


Joined: 22/05/2007
Posts: 544

Message Posted:
24/12/2008 21:23

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Message 66 of 180 in Discussion

have opened an account by internet no problems they are first class. spud1



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
25/12/2008 00:18

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Message 67 of 180 in Discussion

Just wanted to wish every one a Happy Christmas and a Brilliant New Year from everyone at Creditwest Bank Ltd.



spud1


Joined: 22/05/2007
Posts: 544

Message Posted:
07/01/2009 18:09

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Message 68 of 180 in Discussion

hi creditwestrep. is there a problem unable to get onto your website. spud1



lovingcyprus


Joined: 02/03/2007
Posts: 1273

Message Posted:
07/01/2009 18:32

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Message 69 of 180 in Discussion

http://www.creditwestbank.com/index.php?option=com_frontpage&Itemid=1



Try the above it works for me



breezyboy


Joined: 14/05/2007
Posts: 1179

Message Posted:
07/01/2009 19:16

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Message 70 of 180 in Discussion

Thanks Creditwestrep for our meetng on the 23rd.

All your postings are correct, spot on and truthful.

Cannot recommend highly enough.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
08/01/2009 23:32

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Message 71 of 180 in Discussion

spud1 the link lovingcyprus has given works for me if you continue having problems try http://www.creditwestbank.com that should be OK.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
08/01/2009 23:33

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Message 72 of 180 in Discussion

breezyboy was a pleasure to meet you keep in touch.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
21/01/2009 12:12

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Message 73 of 180 in Discussion

Interest rates are on the slide downwards, if you have any questions about banking feel free to email me on pazarlama@creditwestbank.com



Sheedy


Joined: 21/01/2009
Posts: 3

Message Posted:
21/01/2009 13:12

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Message 74 of 180 in Discussion

Can someone help, I don't really understand interest rates and apr etc., we are planning to move to North Cyprus later this year, I have spoken with the HSBC regarding investing £30k now and a further larger amount when we have sold up in the UK, we are planning to rent for 12 months until we are settled and then possibly buy, HSBC (Girne) are telling me I will get 12% less tax per month, what does this equate to in real money and are there any better deals to be had.



Thanks



Wiser


Joined: 30/07/2008
Posts: 796

Message Posted:
21/01/2009 13:43

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Message 75 of 180 in Discussion

Go to Credit West. I went to the Karaoglanoglu office today and although the interest rates are going down they informed me that if 40k (you will have to check for 30k) they could still offer at this present time 18% on a 3 month basis. They also offered a very good rate on 6 months and a year because they are sure that the interest rates are going to go down further over the next few months. I would recommend Figen Kuman who is the manager of this branch who can be contacted on 00392 822 4210 or email figen.kuman@creditwestbank.com she speaks very good English and is very nice.



Ossie


Joined: 19/01/2008
Posts: 311

Message Posted:
21/01/2009 13:59

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Message 76 of 180 in Discussion

Tax is deductable at 8% so far less than the 20% in UK.



eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
21/01/2009 14:56

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Message 77 of 180 in Discussion

Just to clarify msg 76...That is 8% tax on the interest earned.



Sheedy


Joined: 21/01/2009
Posts: 3

Message Posted:
21/01/2009 15:04

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Message 78 of 180 in Discussion

Thank you Ossie & Wiser for the rapid response, however can you tell me what 30k @ 18% for instance would give me in cash each month or quarter in interest, we will be heavily reliant on our savings and interest until our property in the UK sells, 18% per month on £30k does not equate to £5.400 less tax, it can't possibly do, so what does it mean?.....help



bear 1



Joined: 25/07/2007
Posts: 65

Message Posted:
21/01/2009 16:03

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Message 79 of 180 in Discussion

Hi Sheedy,



30k converted to TL at rate of the day. This will give you the TL equivalent of £414 per month. Your sum of £5,400 was the annual interest. Divide that sum by 12 and take 8% off.



All the Best.



Sheedy


Joined: 21/01/2009
Posts: 3

Message Posted:
21/01/2009 17:07

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Message 80 of 180 in Discussion

Thanks Bear 1, it's as clear as mud now.



keithr


Joined: 20/08/2008
Posts: 720

Message Posted:
21/01/2009 17:22

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Message 81 of 180 in Discussion

Strangely for an island where competition seems to be a dirty word,maybe the local banks are playing brinkmanship regarding interest rates.



The first to cut will surely lose customers as we are all chasing the best rate/perceived safety of the bank syndrome.



HSBC probably don't care as they are now feeling the global pinch big time,according to the financial press.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
23/01/2009 10:19

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Message 82 of 180 in Discussion

Sheedy I think it best you email us directly on pazarlama@creditwestbank.com to discuss your personal financial details and how we can help provide the best solution for you.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
28/01/2009 11:46

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Message 83 of 180 in Discussion

Thank you for banking with us turkcitizen I prefer not to get into any cross fire but with my long long banking track record both here and in the UK I can honestly say the banking sector as a whole is very liquid in the TRNC due to the fact that we are isolated and could not lend or borrow to or from some of the big foreign banks, which for once has worked in our favor. The last bank closure was Erbank and all deposits we paid immediately, the market place did not even notice its closure. The times you remember which I also lived thorough were times when no one had a clue of what to do and the coffers being the insurance fund plus Central bank were empty. Now due to the strong performance of banks over the last 9 years and their regular payments into the insurance fund, plus a change in the law giving the central bank autonomy (meaning the governement cannot use funds deposited with them) provides us with the ability to pay depositors if a bank should close.



turkcitizen


Joined: 14/01/2009
Posts: 35

Message Posted:
28/01/2009 12:02

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Message 84 of 180 in Discussion

can you explain me the workability of paying high interests while everything is dropping in this economy, particularly that many people now cannot repay their debts to banks, also most banks gave loans against property used as insurance, property sale is in bad position too, at the end banks have invested by buying these properties which means long term investments that ends with high risks



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
29/01/2009 11:08

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Message 85 of 180 in Discussion

turkcitizen its all a matter of balance between the cost of the money you take as deposits allowing for bad debt, personel etc vs the lending rate, the money you earn from loans. The important factor is the quality of the collateral you accept when granting loans the ratio is normally 50% which leaves a good margin for a drop in values. Im getting to technical but if you want to see how banks perform you should check their year end balance sheets which reveal whether they are profitable or not.



turkcitizen


Joined: 14/01/2009
Posts: 35

Message Posted:
29/01/2009 13:05

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Message 86 of 180 in Discussion

Hi Creditwestrep, I've been looking at trnc central bank site

http://www.kktcmb.trnc.net I've noticed that people number stopped from using cheques is continuously increasing every day, businesses and getting into trouble more and more and I've noticed that many many of them are creditwest bank's customers, do you still instist that your bank is selecting quality customers?



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
29/01/2009 15:04

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Message 87 of 180 in Discussion

turkcitizen as you are probably aware there is a global crisis and the TRNC is not exception to the rule. Businessmen who were doing very well only a few years are now struggling to make ends meet, giants such has Woolworth, Leahman Bros and Marks & Spencer have either closed down or struggling. Our bank like many others has its fair share of customers who have gone tail up or are unable to manage a cheque book, its impossible to detect from the outset which loans will go bad over time , the key is to be well securitized then you have collateral to fall back on if the debt should go sour. We are a local bank which believes in leanding back into the TRNC market unlike some of the very old banks or branch banks from Turkey who do not really support the TRNC economy.



turkcitizen


Joined: 14/01/2009
Posts: 35

Message Posted:
29/01/2009 15:48

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Message 88 of 180 in Discussion

creditwestrep that's what I was trying to explain, banks shouldn't do long term investments because you never know what will happen in the economy and to businesses though many of them look well securitized



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
29/01/2009 16:04

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Message 89 of 180 in Discussion

What do you mean by long term? The majority of lending in the TRNC is restricted to 5 years due to the source being no more than 1 year.



Anyway Im not saying the TRNC is perfect but where in the world is? theres no need to go around scare mongering as peoples finances are a very sensative issue. I would be happy to discuss banking with you but face to face so if you would like to meet me at anytime feel free to email me on pazarlama@creditwestbank.com so that we may arrange a meeting.



lovingcyprus


Joined: 02/03/2007
Posts: 1273

Message Posted:
29/01/2009 17:37

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Message 90 of 180 in Discussion

CreditwestRep



Marks and Spencer struggling !!!!!!!!!!!!!!!!!! They will still make a profit of £500M.



Not bad for a sruggling business is it????????????????????????



maxwell


Joined: 12/01/2009
Posts: 12

Message Posted:
30/01/2009 01:58

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Message 91 of 180 in Discussion

is it true Rowen Atkinson works part time in the Karaoglanoglu branch.



turkcitizen


Joined: 14/01/2009
Posts: 35

Message Posted:
30/01/2009 10:19

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Message 92 of 180 in Discussion

Hi Creditwestrep, maybe I'm scared my self that's why I'm sharing my knowledge with all. offering me a face to face discussion is nice of, are you trying to getrid of me politely, any way I'm usually very very busy but I'll try my best to meet you one day, many thanks.



On the other hand, as we all know that the economy of trnc depends highly on changes of the economy of Turkey, as an example, Erdoğan's behaviour yesterday in davos was enough to increase the exchange rate of foreign currency today. so turkish economy depends highly on politics not economic balances or financial mechanism. its all politics, tomorrow any politician may go hard on european union, one word is enough to cause us a strike...I'm sure your answer will be "its not easy to cause a disaster in any economy with one word" but this wouldn't change my mind about the turkish economy and accordingly TRNC economy.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
30/01/2009 14:29

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Message 93 of 180 in Discussion

You may be right lovingcyprus but from what we read the clothes sales are down and the food sales are what are keeping them going as they are not as profitable as before. Lets go with you and say that Marks & Spencer are fine there are plenty of global firms who are cutting back in order to survive. The point I was trying to make is that the TRNC is no exception and businesses will run into trouble, this is unavoidable but from a banking perspective we are confident in our loans to collateral ratios which are audited by the Central Bank and indepedent auditors and must meet international standards.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
30/01/2009 14:40

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Message 94 of 180 in Discussion

turkcitizen you are right even the littlest of rumours can effect the financial markets and of course our monetary policy is in line with Turkey because we use their currency but I am still confident in the banking sector of the TRNC because we learnt the hard way though experience due to the crisis of 2000 how to dedect any problems that may arise. We are also one of the most audited sectors in the TRNC not only by the Central Bank but also independent accounting firms approved by the Central Bank, our balance sheets have to be displayed to the public by law and you will see them pop up from time to time in your local newspapers. I may not have removed all your concerns but I hope I have helped a little by throwing some light on the fact that the banking sector has controls and safeguards in place to protect investors funds.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
30/01/2009 14:42

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Message 95 of 180 in Discussion

maxwell we have had that comment so many times, Naci is a star in his own right you should go along and say hi.



joseph


Joined: 17/04/2008
Posts: 709

Message Posted:
30/01/2009 16:17

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Message 96 of 180 in Discussion

Hi,CreditWestRep,

Nice to speak to you and again, hope u r well?

Have recommended you to quite a few people some of whom have been in touch with you and were most impressed with your bank and you in particular.



You may recall I asked about your internet banking and whether customers were fully covered for internet fraud? I believe you answered via email that this was not the case with your bank and as such I have not tried to access my new accounts via the internet as this gives me cause for concern.

I suppose I will jut have to check my accounts etc whenever I am in TRNC?



However do you think it only fair you should let customers on site know that they will not be covered by your bank if they are subjected to such fraud, or have accounts accessed by unauthorised persons, especially as this time of crime is on the increase.

Finally ... is your bank the exception or the rule re internet banking security and guarantees? Regards Joseph



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
30/01/2009 18:09

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Message 97 of 180 in Discussion

Joseph great to hear from you again. We did discuss this issue but on research found that no bank in the TRNC provides such a guarantee but we would be very interested to read and maybe adopt such an undertaking if you can kindly provide an example from a bank abroad which you use. Our opinion is that this sort of undertaking in itself would leave the door wide open to exploitation by fraudsters posing has customers, so any information that would reveal how banks would combat such action would be greatly appreciated. Feel free to email me with any information you may have.



joseph


Joined: 17/04/2008
Posts: 709

Message Posted:
30/01/2009 19:44

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Message 98 of 180 in Discussion

Hi CWRep... best wishes to you and yours... I bank in the UK with Halifax and have copy posted details, you can access their website @ http://www.halifax.co.uk



"At Halifax, we're vigilant against online fraud. But if the worst did happen and fraudsters gained access to your accounts with us, you can rest assured. Our online fraud guarantee means you will not lose any money as a result"



Family/Friends all say their banks offer the same guarantee. I am sure,you having worked many years in the UK banking industry, would know more about their in house security than I ?



The main thrust of my concern is I think most Brits buying in TRNC would need banking access when not in Cyprus for checking on accounts,direct debits etc etc and I think this kind of guarantee would be important so perhaps you could look into this issue in more detail, who knows you could add another string to your bow by being the 1st bank to offer this extra security for all your customers?



Kind regards Joseph



hankme


Joined: 12/01/2009
Posts: 8

Message Posted:
31/01/2009 07:52

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Message 99 of 180 in Discussion

been following this with interest as i wanted to deposit large sum for 12 mth with credit west . so i made contact downloaded forms but after reading thier indemnety get out page could not understand how anyone could have a claim against fraud. there are no security questions at all on application form, so i rang the bank asked whats to stop anyone with my account number to accsess my account and move the money. the bank answerd we check with our customers before doing anything! but check against what? all they would have of mine is a signiture! no pin no password and no mothers maiden name. so anyone with my account number and acopy of my signiture could have accsess! what kind of game is that?



maybemike


Joined: 12/01/2009
Posts: 188

Message Posted:
31/01/2009 08:51

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Message 100 of 180 in Discussion

this is the only thing that stops me putting my money there, i want to deposit a large sum also but i need internet banking, and the security issue is a worry.









maybe



eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
31/01/2009 22:50

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Message 101 of 180 in Discussion

Creditwestrep.....over to you.



stellasstar1



Joined: 02/07/2008
Posts: 1519

Message Posted:
01/02/2009 16:13

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Message 102 of 180 in Discussion

What is the current interest rate for 1 month deposit with lira?, and what ID do you need to open an account.

Stella



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
01/02/2009 18:21

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Message 103 of 180 in Discussion

Thank you for the info Joseph I will pass it onto our IT people so they can investigate how it actually works, what security measures they have in place and can we adopt the same in the TRNC. I agree it could be a plus for our bank if we could offer the guarantee.



I will keep you updated as we are hoping to go live with our new internet banking service in a few weeks time.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
01/02/2009 18:54

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Message 104 of 180 in Discussion

hankme as you are aware the TRNC is a very small country and we know our customers well, so your comments that anyone with your account number and signature can operate your account are not true. Any bank clerk that would be so gullable as not to go through certain procedures to identify their customers if uncertain would be the responsibility of the clerk/bank if such fraud should take place. It goes without saying that we take ID when opening your accounts and ask for ID if we are not sure who you are when you try to carry out a transaction especially withdraw funds. Security details are also necessary when issuing internet banking which is currently a view only service, this will be upgraded over the coming weeks together with new security measures.



We will also be taking seriously and evaluating what Joseph has put forward with regards to guarantees given by banks in the UK. Your points have also been noted and will be discussed in our next group meeting.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
01/02/2009 19:03

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Message 105 of 180 in Discussion

maybemike our current internet banking service is not open to transactions so there is no worry that your account will be accessed and misused. Our new service which should be available shortly is currently going through security checks and procedures by our IT people some of whom have been trained in the UK and contribute to world anti-fraud network, if you wish I can arrange for you to meet up with these people so as to address your concerns, this offer is open to all who maybe interested.



Luckily this sort of problem is not a common occurance in the TRNC actually I have not heard of it happening at all but of course we should be vigilant and take measures to ensure that we are not exposed to such fraudsters.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
01/02/2009 19:12

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Message 106 of 180 in Discussion

stellasstar1 the current advertised rate is 17%' you will need to provide your passport as a form of ID when opening an account with our bank and answer a few security questions to cover the fraud aspect of using banking services.



joseph


Joined: 17/04/2008
Posts: 709

Message Posted:
02/02/2009 00:17

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Message 107 of 180 in Discussion

Hi CWRep, thanks for reply look forward to update.



I think it would be hugely beneficial for both bank and customer for internet banking guarantees to be in place. Considering the number of holiday homes etc now sold in TRNC I would suggest people want to be a little more than just

"holiday clients" but without such scurity this would be so. Also consider such purchasers who like to transfer high amounts in preparation to buying, or in the process of, who would like access to your saving account rates? Without internet security guarantees that capital will remain in U.K. or be sent later?



Hi Stella, Eager,Maybe and Hank, good positive imput which can only help.

I did open two accounts with CWRep, have recommended him/his bank to frinds and can genuinely say he is a good guy and I am sure he will give this due diligence. I think also as a banker it gets him in touch with what his clients want/ need; which is all good



Regards Joseph



hankme


Joined: 12/01/2009
Posts: 8

Message Posted:
02/02/2009 08:28

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Message 108 of 180 in Discussion

rep, i wouldnt be seeing any bank clerk as i dont live in trnc, i was asked for copy of passport certified to open account, first to open current account then trransfer to savings account once i had account number given over the net. the bank would have no other i.d on me except my signutre which is easy to copy!! other banks ive delt with dont ask you to sign this indemnety form which i belive excludes your bank from all reasponsability if the worst happends. could you put up this form so we can all read and see what people think......



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
02/02/2009 23:23

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Message 109 of 180 in Discussion

hankme apologies for the late reply. As you can appreciate we cannot place our documentation on the net so all I can say is yes you are right we do ask our customers to sign an indemnity to protect the bank from fraudulent use only if the customer wishes to instruct us via the fax or email. Customers may choose not to sign and send us hard copy instructions which for us is preferable but due to the high demand for speed we had to devise a remedy.

With regards to security I can assure you that transferring money into a bank is much easier that getting out and sometimes when extra security measures are taken we have customers that complain, so finding the right balance can sometimes be very difficult.

We will be discussing yours and Josephs comments at the top level to see if we need to revise our current account opening security procedures with which we hand no problems with and what extra we can do from other banks with our internet banking security which will be live shortly.



turkcitizen


Joined: 14/01/2009
Posts: 35

Message Posted:
03/02/2009 17:48

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Message 110 of 180 in Discussion

hi creditwestrep, sorry I've been a way for a while, about long term investments of bank, banks stopped long term loans few months ago, how about loans before that, more than 6 years, 10 years 12 years long??



SaraP


Joined: 30/04/2008
Posts: 295

Message Posted:
03/02/2009 18:37

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Message 111 of 180 in Discussion

I have just joined Kibris Continental Bank.They have given me 19.5%on Lira and 6% on sterling.Could you offer me better than that?One thing I am not happy about is you loose the whole months interest if you draw any money out before the month is out.Turk Bank however who I previously banked with did not do that.I have also heard that interest rates will be dropping, is this true?Look forward to hearing from you!



eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
03/02/2009 18:42

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Message 112 of 180 in Discussion

SaraP where you happy with Turk Bank, what sort of interest were they paying on monthly accounts?...eager.



TurkBankRep


Joined: 22/01/2009
Posts: 219

Message Posted:
04/02/2009 08:41

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Message 113 of 180 in Discussion

morning



Sorry you have left our bank SaraP but it looks like you wanted higher intrest rather then security from a long established bank started in 1901 who has kept going through all the bank closures of previous times the last one being in 2001



We at Turkbank set our intrest rates from the intrest given by the Central Bank in Turkey at the moment they are giving 12.6% on lira

Our bank and a couple of other banks have droped there intrest rates to reflect this

If we as a bank recive 12.6% and some other banks are giving 18%-20% you do the maths ! ! ! i do know everyone has a choice

Turkish Banks policy is to maintain a high level of liquidity so as a bank we can repay any customer who wishes to take any money from there account



Linda Roy



SaraP


Joined: 30/04/2008
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Message Posted:
04/02/2009 11:54

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Message 114 of 180 in Discussion

Hi Eager. Yes I was very happy with Turk Banks service but they only paid 14.5% on lira and 3.75% sterling...SaraP



SaraP


Joined: 30/04/2008
Posts: 295

Message Posted:
04/02/2009 12:09

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Message 115 of 180 in Discussion

Yes you maybe a long established bank, but no banks are secure! Look at England and America.Money however is guaranteed if split across accounts, which is what the banks here are advising!



negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
04/02/2009 12:17

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Message 116 of 180 in Discussion

mess 113 - the length of time a business is established doesn't mean it will be exempt from problems.



Look at Lehman Bros, Nothern Rock, Woolworths, Allders etc etc....



Why should banks paying a higher interest rate than you be any more secure than Turk Bank ??



Nick



eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
04/02/2009 21:10

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Message 117 of 180 in Discussion

Could it be that they are taking more risks ? ie.. lending to others who are who are perhaps a bit riskier and therefore charging these companies/individuals more to borrow money, by doing this they are then able to offer more attrective rates to savers. I am not saying that this the case but it sounds a reasonable suppositon to me. Maybe creditwestrep could clarify, again just my thoughts and not based on any knowledge on my part.



kiria


Joined: 15/01/2009
Posts: 19

Message Posted:
05/02/2009 03:50

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Message 118 of 180 in Discussion

1. The interest rate for 1 month deposit in USD is close to 0% in most countries.

TRNC banks like credit west offer 4% or so.

How do they do it? in what they invest the money?

2. SaraP, Does Kibris Continental bank have a web site? Internet banking in English? all I could find is an email address, and I got no reply to my email enquiry.



SaraP


Joined: 30/04/2008
Posts: 295

Message Posted:
05/02/2009 11:17

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Message 119 of 180 in Discussion

Hi Kiria. They do not have a website, but they do internet banking.Here is the email for the finance and marketing lady, her name is Gozde. She is very helpful and will be able to answer any questions you may have.gozdekaba@hotmail.com Hope this helps.She is based in the branch opposite Lemar in Karakum.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
06/02/2009 09:49

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Message 120 of 180 in Discussion

As you all know the main business of banks is to take deposits and give out loans (fuelling the economy) the difference is what the bank makes in profit after fixed costs and losses have been deducted. So when you ask the question how is it that banks can pay 4% on foreign currency deposits all you have to do is look at the borrowing interest rate which in the TRNC can vary from 9% to 15%. Although the rates will vary the principle is the same worldwide.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
06/02/2009 09:53

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Message 121 of 180 in Discussion

Apologies, I didnt not add the difference in the interest rates is what generates profit.



porter


Joined: 16/10/2007
Posts: 74

Message Posted:
06/02/2009 12:24

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Message 122 of 180 in Discussion

is it as easy to send your money back to the uk as it is to pay it in, i am with h.s.b.c cheers all....



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
06/02/2009 14:55

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Message 123 of 180 in Discussion

You should have no problems sending money back to the UK.



bunny


Joined: 24/01/2009
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Message Posted:
06/02/2009 17:50

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Message 124 of 180 in Discussion

Does anyone know what the intrest rate is at credit west at the moment



kiria


Joined: 15/01/2009
Posts: 19

Message Posted:
07/02/2009 05:28

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Message 125 of 180 in Discussion

CreditwestRep, Re. Message 120,

You know very well that the banking business is not that simple...

Lets take the USD:

1. Your bank has to deposit a considerable part of depositors money in the TRNC central bank. I doubt that they pay more then 0.25% interest on USD (the FED target rate).

2. The 30 day LIBOR rate is about 0.45%, 1 month CDs: 0.87%, and you pay 4%?

Please don't get me wrong: I like the interest you pay. I just want to make sure I understand from where it is coming, and who takes the risk.

Do you lend USD at 9%-15%? do you take any other risks (options, forex, etc) with term deposits? Do you use new deposits to pay the interest on older deposits?

Please explain how term deposits are handled.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
09/02/2009 21:48

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Message 126 of 180 in Discussion

No we do not take in new depositis to pay the interest on old ones and you are right banking is not that simple but I did try to explain it in laymans terms so that everyone could understand the basics. If you allow for the costs which include such things as deposits with the TRNC Central Bank (to maintain liquidity), Insurance fund contributions, salaries, bad debts and payment of interest on loans vs interest earned on performing loans and investments roughly provides you with the profit of bank. Seeing you are knowledgeable about banking you will understand that if a bank is performing well there should be a profit at the end of year after off setting bad debts as stipulated by TRNC law and of course taxes. If this is not the case then a bank will soon deplete its capital base which will need to be replenished by the shareholders or the bank will suffer liquidity issues. The TRNC Central Bank audit banks to ensure they are inline with international ratios and TRNC law.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
09/02/2009 21:51

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Message 127 of 180 in Discussion

bunny if you would like to email us at pazarlama@creditwestbank.com with details of your deposit we will be able to quote you an interest rate but I recommend you act pretty quickly as the interest rates are on the way down.



rocky


Joined: 17/10/2007
Posts: 1749

Message Posted:
09/02/2009 22:35

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Message 128 of 180 in Discussion

I have just read through this thread and I cannot see an an ex banker that money in this establishment is anyway guaranteed. I understand that any bank paying higher interest rates is reflecting a margin over its lending rates. If it is lending at higher rates then the lending must be higher risk . The old maxim if it sounds to be good to be true it probably is....



AlsancakJack



Joined: 14/08/2008
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Message Posted:
09/02/2009 22:37

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Message 129 of 180 in Discussion

rocky

'Chasing fools gold' comes to mind.

AJ



turkcitizen


Joined: 14/01/2009
Posts: 35

Message Posted:
10/02/2009 09:10

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Message 130 of 180 in Discussion

REP 128, AGREE WITH YOU



kiria


Joined: 15/01/2009
Posts: 19

Message Posted:
11/02/2009 02:16

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Message 131 of 180 in Discussion

CreditwestRep, You must have misunderstood me. A profitable bank is for me a safe bank, and rising bank profits are the best guarantee that the bank will continue to be in business.

What I was asking is: how is the interest on foreign currency generated? You obviously use another method then the UK or USA banks use, if you can afford to pay 4%, when they can only pay 0.25%.

Are you able to lend foreign currency at a high interest rates?

Are you exchanging the foreign currency deposits into TL to secure a high interest rate and hedging against exchange rate fluctuations? if that is the case, do you hedge 100% of deposit amount? how exactly?

Are you investing the deposits in any other instrument that enables you to pay the higher interest?

Please clarify.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
11/02/2009 12:00

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Message 132 of 180 in Discussion

Kiria our foreign currency lending rate goes upto 13%, Im sure you can work out the rest. Unlike some banks we prefer to support our own economy and lend into the market, this is another issue which is overlooked many Turkish branch and few local banks collect deposits but do not lend back into the market which is vital in order to stimulate the economy. Your question should really be aimed at them.



turkcitizen


Joined: 14/01/2009
Posts: 35

Message Posted:
11/02/2009 17:01

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Message 133 of 180 in Discussion

reply msg 131-132, your lending rate is very high actually, other banks are around 10-11%



rocky


Joined: 17/10/2007
Posts: 1749

Message Posted:
11/02/2009 22:57

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Message 134 of 180 in Discussion

I think this Bank is getting too much publicity albeit good or bad



eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
12/02/2009 00:04

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Message 135 of 180 in Discussion

Whats your point then? CRW is being very pro-active.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
12/02/2009 09:21

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Message 136 of 180 in Discussion

Turkcitizen I did say upto, really depends on the project, ability to repay and quality of collateral.



turkcitizen


Joined: 14/01/2009
Posts: 35

Message Posted:
12/02/2009 17:46

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Message 137 of 180 in Discussion

cwr, quality of collateral in n.cyprus under this economic pressure, are you sure??



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
13/02/2009 13:00

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Message 138 of 180 in Discussion

turkcitizen having sound collateral vs no collateral makes a difference dont you think?



susumu


Joined: 23/02/2009
Posts: 2

Message Posted:
23/02/2009 20:17

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Message 139 of 180 in Discussion

CreditwestRep,



I would like to open bank account at CreditWest.

I am traveling for 3 years, and I have no permanent address.

Can I open account by showing my passport and driver's license?



clayton


Joined: 30/11/2008
Posts: 1143

Message Posted:
23/02/2009 20:33

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Message 140 of 180 in Discussion

creditwest rep

please could you tell me if i can open accoumt for standing orders.if so how much does this cost me.i willbe coming over in may and want to sought things out.also what will i need to bring with me for proof.

yours thankfully

clayton



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
24/02/2009 09:28

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Message 141 of 180 in Discussion

susumu just email me on pazarlama@creditwestbank.com with details of your requirements and we will sort things out for you.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
24/02/2009 09:37

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Message 142 of 180 in Discussion

Hello Clayton, no problem with opening an account for standing orders we can sort this as many expat have accounts form which their utility bills are met while they are away, email me on pazarlama@creditwestbank.com and we will get the ball rolling.



clayton


Joined: 30/11/2008
Posts: 1143

Message Posted:
25/02/2009 00:12

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Message 143 of 180 in Discussion

hi creditwest

would it be possible to sought things out when we get there.we will becoming on the 16 may for 2weeks.my husband is working away at the moment we have got to get the electric swapped over from the builders name to ours first

thanks elaine



Blackpoolfan


Joined: 03/12/2008
Posts: 1568

Message Posted:
26/02/2009 17:35

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Message 144 of 180 in Discussion

Creditwestrep,

Hi can you tell me what i need to open a sterling/lira account, also do i need to make an appointment and is it easy to monitor my account on-line as HSBC i was with were a nightmare and Limassol bank where i have an account do not have an on-line facility. I will be over in the TRNC 14/03/09 for 9 days hope to tie it up while i am over. Thank-You in anticipation of your help



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
26/02/2009 23:15

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Message 145 of 180 in Discussion

Blackpoolfan we can arrange all you have mentioned just email me on pazarlama@creditwestbank.com to sort out an appointment at one of our ex pat branches, will you be staying in Kyrenia?



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
26/02/2009 23:17

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Message 146 of 180 in Discussion

clayton no problem just drop me an email before you arrive and I will arrange a meeting at one of our ex pat branches, where will you be staying? my direct email is pazarlama@creditwestbank.com.



Blackpoolfan


Joined: 03/12/2008
Posts: 1568

Message Posted:
27/02/2009 01:07

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Message 147 of 180 in Discussion

Creditwestrep

Yes staying at the pia bella, where is your branch in kyrenia please?



Mountain Edge



Joined: 23/02/2007
Posts: 199

Message Posted:
27/02/2009 10:49

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Message 148 of 180 in Discussion

Creditwest - I have sent you an email but in the past this has failed. I am popping over on the 7th and will be calling in when I am there to open a TL account. Do I need anything other than my passport.



Regards



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
27/02/2009 14:20

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Message 149 of 180 in Discussion

Blackpoolfan, you best bet is our Çatalköy Branch as that is an ex pat branch and everyone speaks English, its before you get to Lemar Supermarket, if you email me on pazarlama@creditwestbank.com we can agree a time and date.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
27/02/2009 14:25

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Message 150 of 180 in Discussion

Mountain Edge I received your email this morning and we will email asap, dont forget your passport when visiting our branch but it would be best to make an appointment so that we can provide the best service we can.



Mountain Edge



Joined: 23/02/2007
Posts: 199

Message Posted:
27/02/2009 15:29

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Message 151 of 180 in Discussion

I got the email, thanks a lot. You have tried several times before but this time I got it.



northernlad 2


Joined: 28/07/2008
Posts: 132

Message Posted:
27/02/2009 20:52

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Message 152 of 180 in Discussion

Creditwest Rep:



I am coming over to NC in april and need to open a bank account as we are having an aprtment built over there.



Could you tell me what documents etc I will need to open an account.



Thank you.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
27/02/2009 21:50

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Message 153 of 180 in Discussion

Great News Mountain Edge, we tried a few times glad to hear it got through.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
27/02/2009 21:52

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Message 154 of 180 in Discussion

northernlad 2 all you need is your passport but if you wish we can arrange an appointment for you, just email me on pazarlama@creditwestbank.com



deecyprus4


Joined: 27/07/2008
Posts: 3452

Message Posted:
28/02/2009 06:41

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Message 155 of 180 in Discussion

Creditwestrep...Is Credit West Bank soley known in the TRNC or do you have international interests?



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
28/02/2009 11:40

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Message 156 of 180 in Discussion

deecyprus4 we are part of a larger holding company called the Altınbaş Group of companies banking wise Creditwest Bank can also be found in the Ukraine, other companies you may know are Altinbaş, Assos, Alpet to name a few. You may find more details using the following link http://www.altinbasholding.com



deecyprus4


Joined: 27/07/2008
Posts: 3452

Message Posted:
28/02/2009 12:29

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Message 157 of 180 in Discussion

So you are only in the TRNC...I know you mentioned the Ukraine but forgive me that is hardly worth mentioning.



Thanks for replying.



eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
28/02/2009 13:46

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Message 158 of 180 in Discussion

Not me unfortunatley !!!



Jayne62


Joined: 19/10/2008
Posts: 93

Message Posted:
01/03/2009 18:51

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Message 159 of 180 in Discussion

Hi we have an account with credit west, can you please tell me the interest rate at this present time for ytl? thankyou



breezyboy


Joined: 14/05/2007
Posts: 1179

Message Posted:
02/03/2009 10:56

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Message 160 of 180 in Discussion

DC4

might not be worth mentioning to you that they have branches in Ukraine but there are other people on this forum. Some of them , like us, have bank accounts in Ukraine.



northernlad 2


Joined: 28/07/2008
Posts: 132

Message Posted:
05/03/2009 01:14

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Message 161 of 180 in Discussion

See message 154.



I will contact you shortly before I travel over to NC in April with a view to sorting an appointment.



deecyprus4


Joined: 27/07/2008
Posts: 3452

Message Posted:
05/03/2009 08:40

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Message 162 of 180 in Discussion

breezyboy good luck then..



Carbotec


Joined: 28/02/2009
Posts: 98

Message Posted:
05/03/2009 09:48

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Message 163 of 180 in Discussion

I have just opened new accounts with you and would also be interested in your reply vai e-mail re internet security.



Regards



David



Carbotec


Joined: 28/02/2009
Posts: 98

Message Posted:
05/03/2009 09:52

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Message 164 of 180 in Discussion

I have just opened new accounts with you and would also be interested in your reply vai e-mail re internet security.



Regards



David



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
05/03/2009 13:00

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Message 165 of 180 in Discussion

Hello David I have passed your email onto our IT people who will email you back shortly.



nicecolor


Joined: 27/01/2009
Posts: 20

Message Posted:
16/03/2009 08:25

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Message 166 of 180 in Discussion

i visited altinbas website but not see anything. only see X X X



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
16/03/2009 15:17

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Message 167 of 180 in Discussion

Try http://www.altinbasholding.com



nicecolor


Joined: 27/01/2009
Posts: 20

Message Posted:
16/03/2009 16:58

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Message 168 of 180 in Discussion

i know link. but this link not using all browser.



proline


Joined: 19/01/2009
Posts: 291

Message Posted:
16/03/2009 17:39

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Message 169 of 180 in Discussion

Hi creditwest,

why does your bank take so much money for money transfer?

I sent my mum £200 via your bank to HSBC (london), they took 68 tl here plus £10 in england!

No more will I send money from creditwest!



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
17/03/2009 09:19

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Message 170 of 180 in Discussion

proline not being able to transfer direct increases our costs, we have to use intermediary banks, all a part of being isolated.



dozza67


Joined: 11/07/2008
Posts: 607

Message Posted:
17/03/2009 10:22

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Message 171 of 180 in Discussion

Hi Proline. I think you will find that most banks charge for sending money abroad. We have transferred money before and the worst ones were HSBC and we bank with First Direct which is part of HSBC. Greedy so and so's



woofy


Joined: 07/02/2008
Posts: 15

Message Posted:
16/07/2009 23:56

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Message 172 of 180 in Discussion

hi,

we recently opened credit west accounts at catalkoy but having got home i am now scratching my head about the cheapest way to transfer money into it. do you know which is best? are you linked with any bank in the uk? bearing in mind we are coming over in november would it be best to pay a cheque in? any help will be greatfully recieved many thanks.



Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
17/07/2009 00:03

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Message 173 of 180 in Discussion

I brought over a Barclay's bankers draft cheque, which is cash but Credit West said they needed 4 weeks to clear it! What a con but had no option. Bring cash only over, as much as you want or have, no restrictions!



Richard



Pogle


Joined: 28/08/2008
Posts: 1536

Message Posted:
17/07/2009 00:53

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Message 174 of 180 in Discussion

May have been covered but is the online banking promised in 2007 up and running yet?



Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
17/07/2009 01:01

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Message 175 of 180 in Discussion

I've just read the whole of this thread for the first time (must have been banned at the time) and can quite honestly say that I've never read such bullshit and whitewashing of important, sensible questions asked, answered by the Credit West Representative. Having been asked to attend a meeting with them two days ago I experienced in person their negative 'fobbing off' tactics. Still didn't get my 20Krs back and nor was it offered, not even a coffee!



Richard



sheraz


Joined: 31/05/2009
Posts: 26

Message Posted:
17/07/2009 04:00

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Message 176 of 180 in Discussion

hello dear i am from sheraz chatalkoy that is a european and indian cusine.could i asked you about money gram.where is its head office and is it possible contact number of manager.i want to apply for international agent with money gram for sending money in the world.do you have any other way to send money arround world in 10 minutes.we have a account with your chatalkoy newly opend branch could we get a cheque book.as our balance is 4500 tl.and we deposited daily sales in that accont. we have a plan to make payments via cheque.that is easy for calculation or check our business.becasue we are two parterners.can we get cheque book.if possible how much is kdv for that.thak you sheraz chef



brightstar


Joined: 17/07/2009
Posts: 3

Message Posted:
17/07/2009 08:39

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Message 177 of 180 in Discussion

hi dear hope you fine i would like to know some thing about your bank accounts.dear we are three parteners and we want to open join account.any two of us enable to draw money of that account.do you have any such type of account.secondly you issue cheque book on that account.if yes on how much minimum balance you issue cheque book.we have a plan to open account with you in tl local currency .i will be so greatful for reply.thank you jay.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
17/07/2009 14:24

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Message 178 of 180 in Discussion

Brightstar we have the type of accounts you wish to open all you have to do is visit one of our branches and they will be able to help you.



CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
17/07/2009 14:31

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Message 179 of 180 in Discussion

Sheraz Creditwest are the representatives in North Cyprus for Moneygram and if you wish to set up an agency you will have to come in and talk to us or email me on pazarlama@creditwestbank.com and I will pass on your message to the relevant department.



Pogle


Joined: 28/08/2008
Posts: 1536

Message Posted:
17/07/2009 18:02

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Message 180 of 180 in Discussion

Online banking???



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