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Internet banking by any TRNC bank?

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chucky


Joined: 13/06/2008
Posts: 6

Message Posted:
18/06/2008 10:29

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Message 1 of 33 in Discussion

Do any of the banks in trnc offer internet banking - i don't necessarily need to move funds around but being able to view would be nice



breezyboy


Joined: 14/05/2007
Posts: 1179

Message Posted:
18/06/2008 11:22

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Message 2 of 33 in Discussion

Hi Chucky

Garanti Bank has an excellent internet banking system. Google it and take a look. They are part of a big Turkish conglomerate and have plenty of funds. I an currently getting 17% on YTL monthly deposit account. The exchange is also shown on the website and what you see is what you get.



cyprusishome


Joined: 31/03/2007
Posts: 2381

Message Posted:
18/06/2008 12:55

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Message 3 of 33 in Discussion

Answer is most of them have or are heading towards getting I-banking.



I have just opened account with Iktisatbank - 18.5% on monthly deposit.



Also have accounts with HSBC whose I-banking system is proven and been running for some time. Some of others are not yet fully proven for myself to use.



Dusterbruce


Joined: 03/08/2007
Posts: 1125

Message Posted:
18/06/2008 13:29

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Message 4 of 33 in Discussion

I'm with Turk Bankasi, been around for 100 years, has internet banking although the site can be slow at times.

You have to register for internet banking in person at the branch.



elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
18/06/2008 14:07

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Message 5 of 33 in Discussion

I use internet banking with HSBC, Ishbank, Koop Merkez and Turkbank. I think that is enough!!!

ismet



Hot Hornet


Joined: 03/06/2008
Posts: 343

Message Posted:
18/06/2008 20:20

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Message 6 of 33 in Discussion

blimey elko2 - r u married at all??!!!



Nunu1


Joined: 31/03/2008
Posts: 536

Message Posted:
18/06/2008 20:30

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Message 7 of 33 in Discussion

Folks.......Beware of internet banking!!! THERE is no such thing as a 100% secure site or pipe (Line)



And with wireless systems and spyware you need to be VERY carefull!



Nearly Every Bloody time Im on this Forum some one is trying to come thru the back door (Hack my computer!) Whoever they are they now have all my personal details, banking details, business details and anything to do with Cyprus details!



IM not pointing the finger at anybody....But I have passed this hacking matter onto the police in the UK!



Beware people of internet banking and please make sure you have the latest firewall and virus checking software!



nunu1



elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
18/06/2008 21:09

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Message 8 of 33 in Discussion

HH,

Yes I am married but I could not see the connection.

ismet



come_on_aylin


Joined: 14/06/2008
Posts: 908

Message Posted:
18/06/2008 21:17

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Message 9 of 33 in Discussion

Ismet



I think he's trying to say you spend too much time on the internet....



Colliedog


Joined: 16/03/2007
Posts: 132

Message Posted:
18/06/2008 23:41

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Message 10 of 33 in Discussion

Elco, you make us laugh.



You make us cry.



Your info sometimes is far too high.



But what a guy.



A forum guy.



A lovely guy.



Elco, must fly, Bye bye.





Gary



Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
19/06/2008 00:46

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Message 11 of 33 in Discussion

Thought that HH meant you must have a wife who likes to take you shopping.



Chris


Joined: 26/03/2008
Posts: 454

Message Posted:
19/06/2008 00:50

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Message 12 of 33 in Discussion

I thought it meant you have too much money, with all these accounts, and do you want a companion....................



Chris



eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
19/06/2008 00:58

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Message 13 of 33 in Discussion

Think that HH is a she not a he and that she was proposing !!!



elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
19/06/2008 07:39

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Message 14 of 33 in Discussion

Eager,

HH is a 37 yo she and a secretary. Profiles never lie. That would be nice!!!

ismet



Hot Hornet


Joined: 03/06/2008
Posts: 343

Message Posted:
19/06/2008 09:13

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Message 15 of 33 in Discussion

hee thanks elko!

Actually I guess that is a very sensible move, not to have all your dosh in one basket here - I have never really enquired, but from what some have said, if you have your stash all in one place and something happens to that bank, they have the right to only pay back a percentage straight away, and then pay you the rest over something like 25 years.

So if you spread it out, then you will get more of your money back straight away.

Anyone know anymore about that - elko must do!

Someone mentioned Garanti giving 17% on ytl savings accounts? Last time I looked it was 15 or 14.5%, down at least 2%.



cyprusishome


Joined: 31/03/2007
Posts: 2381

Message Posted:
19/06/2008 10:42

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Message 16 of 33 in Discussion

There is a guarantee of, I think, 20,000 euros per account at all banks here. After that if bank goes down you have had it.



Interest rates are rising, as I said earlier 18.5% over 50k at Iktisatbank and last I heard it was around 22% on depostis over 100,000 at Contnental. Ok if you are prepared to take the risk!!!!



breezyboy


Joined: 14/05/2007
Posts: 1179

Message Posted:
19/06/2008 12:38

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Message 17 of 33 in Discussion

HH

I mentioned 17% at Garanti but it depends on how much you put in. In April it was 16.75% so it is up a bit now. The rate seems to correspond to the relative stature of the bank with those with less stature giving a more attractive rate. That is not knocking any particular bank purely my observation. I would be interested to know from any member how cast iron some banks with higher rates might be as with the stockmarket in the UK in freefall again and RBS saying it is going to get worse I wonder which of TRNC banks might benefit from some more of my hard earned.



lobylud


Joined: 14/10/2007
Posts: 242

Message Posted:
19/06/2008 21:02

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Message 18 of 33 in Discussion

Ignoring the exchange rate changing for the worst and assuming the banks aren't going to go bust, where is the risk?

Am I missing something?



lobylud


Joined: 14/10/2007
Posts: 242

Message Posted:
21/06/2008 15:03

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Message 19 of 33 in Discussion

Nobody has answered my question, so I'm bringing it back to the top!

With my comments in the previous post, what are the risks with these high interest accounts?



Nunu1


Joined: 31/03/2008
Posts: 536

Message Posted:
21/06/2008 15:13

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Message 20 of 33 in Discussion

lobbylud On my understanding of high interest accounts in TRNC is the way the banks achieve these rates is to take higher risks on investing your money like in stocks and shares. So when you open an interest account in TRNC on one of the forms there is a low, medium and high risk tick option box.



Somebody in the Finance or banking world would be able to explain it better than I can.



So you dont get something for nothing, to get high interest, there are higher risks on what the banks do with your money to achieve a higher return.



nunu1



cyprusishome


Joined: 31/03/2007
Posts: 2381

Message Posted:
21/06/2008 16:06

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Message 21 of 33 in Discussion

nunu1,



Partly correct with the investment thing.



About 7 years ago there was a major collapse of banks here and in Turkey following which there was a major overhaul, the main thing being the introduction of guarantees that have already been mentioned.



Several of the small banks are now new to the market and have relativley small capital bases. Obviously by any mismanagement these banks could sink quickly and therefore IMHO, there lies the risk. So that answers your question lobylud, the very thing that you said, baring of!!!!!



Beyond that risk, the risk is yours and yours only. Up to the banks guaranteed account limit, think it is 20,000 Euros you should be safe, however invest more to achieve the higher rates and that is entirely your risk. It really is that simple.



GailForce



Joined: 15/03/2008
Posts: 54

Message Posted:
21/06/2008 21:20

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Message 22 of 33 in Discussion

I am with iktisatbankasi and have a sterling and a YTL account. I transfer money from my UK account to the sterling account and then switch it across to YTL when I am out there. It saves me having to carry money out there.



cyprusishome


Joined: 31/03/2007
Posts: 2381

Message Posted:
21/06/2008 23:43

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Message 23 of 33 in Discussion

Gailforce,



Why not open your internet account so you can transfer to YTL on line when rate is at best. Then put on deposit at high interest.



That way you get best of both worlds.



lobylud


Joined: 14/10/2007
Posts: 242

Message Posted:
22/06/2008 16:19

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Message 24 of 33 in Discussion

Hi guys, thanks for your replies but I still can't see where the big risk is !



1) If the interest rates go up or down ie say if it went down to say 13%, it would still be a high interest account !

2) As long as you haven't got more than 20,000 Euros in the account, you're protected ! If you've got more, put it in another bank !

3) What's IMHO ?



I've got a Sterling, a YTL and a high interest YTL account and I wanted to transfer money into my high interest YTL account but this is the only one of the three that doesn't appear in the drop down box to transfer so I can't do it !

Like Gailforce, do I have to be actually out there to switch it across accounts ?

I have e-mailed my NC bank for clarification but they haven't replied yet.



Any thoughts ?



lobylud


Joined: 14/10/2007
Posts: 242

Message Posted:
23/06/2008 00:29

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Message 25 of 33 in Discussion

No replies yet so bringing it back to the top.



cyprusishome


Joined: 31/03/2007
Posts: 2381

Message Posted:
23/06/2008 08:11

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Message 26 of 33 in Discussion

lobylud,





your points -



1. yes rates go up and down, of course you have 8% deducted at source for tax. Actually rates are heading higher within next month so get yourself sorted asap.



2. Check the guarantee level with the individual bank just to confirm. But remember with low amounts you get lower rates!!!!!!!!!



3. IMHO - old fashioned but regularly used on BB's - In My Humble Opinion!!!



Risk - the government have a guarantee, the banks place a bond with the governemnt, the government here is bankrupt!!!!!!!!!!!



IMHO, there is risk compared to the UK but not a "big risk" as long as you are aware and take all the precautions. If like some you put 100,000 and it goes bust then that is a big risk. If it stays afloat you have big interest!!!!!!!





Fingers tiring now so your last point of transfering. High interest accounts have maturity dates ie 1, 3, 6 months etc when you open them. You can only transfer money in or out of them on maturity dates, normally. My larger sums with HSBC for example I keep on 3 months, Ikstatbank on 1 month for personal reasons.



To manage your resources effectively you must get on to online banking asap. The risk on those is largely of your own making keeping you PC secure etc.



Hope that is getting close to answering questions from both members. If not try again. I am not an FA but I have done my best to maximise our investments since leaving the UK and being retired. So everything I say is from personal experience.



If not entirely sure about something, please e-mail me and I will try to add further.



D



Biker



Joined: 11/01/2008
Posts: 396

Message Posted:
23/06/2008 17:44

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Message 27 of 33 in Discussion

I have tried to transfer money from UK HSBC to HSBC in Girne by internet banking but cannot search and locate the branch code which is the BIC number.



Any one got any ideas if this can work or what is the BIC number for HSBC Girne branch?



Biker



lobylud


Joined: 14/10/2007
Posts: 242

Message Posted:
23/06/2008 22:31

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Message 28 of 33 in Discussion

Cheers cyprusishome for that very detailed info and for spending the time doing it.

Many thanks.



cyprusishome


Joined: 31/03/2007
Posts: 2381

Message Posted:
23/06/2008 23:32

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Message 29 of 33 in Discussion

Biker,



Without logging on to my account, it is 23.30!!!!!! I cannot get the detail.



However the branch detail I use transferring from Hsbc International is Girne Subesi (kyrenia).



Do not forget it is an account based in Istanbul and use the Mersin 10 post code.



cyprusishome


Joined: 31/03/2007
Posts: 2381

Message Posted:
23/06/2008 23:43

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Message 30 of 33 in Discussion

lobylud,



No probs. Just hope you get want you want from the banking system.



Each of us has our own needs from investment and my view is information over advice is the key. You then make your own choices and can blame only one person if it goes wrong.



The last piece of info is that exchange rates at present are low to convert to YTL however, I did the sums a couple of weeks and found I was better off going to YTL and investing at 18% even comparing against waiting for the return to 2.70 as a norm for exchange. Please check for yourself before acting as that is a personal view.



CatalkoyJohn


Joined: 26/01/2009
Posts: 34

Message Posted:
02/02/2009 18:01

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Message 31 of 33 in Discussion

Message 5 says "I use internet banking with HSBC, Ishbank, Koop Merkez and Turkbank. I think that is enough!!!"



Are these the best banks for internet access from UK? Good interest rates?

Do you have www addresses ( I know HSBC and Turkbank ).



Thanks for the advice

John



eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
02/02/2009 19:10

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Message 32 of 33 in Discussion

Did nobody mention to Lobylad that although only 20,000 euros is guaranteed you can have [as many people have] as many accounts as you wish at this level. If this is the case make sure all interest goes into a seperate account otherwise you will be over th 20k mark.



AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
02/02/2009 20:58

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Message 33 of 33 in Discussion

Can anyone tell me why the account guarantee is in Euros and not Turkish Lira?

AJ



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