Which currency rate do you get

millsj28

Senior Member
#1
Hi

I want to transfer some money from our UK account into our Turkish Lira account in Turkey.

The rate you get in Turkey is a lot higher than what you get here in UK so I was wondering if anyone knew which you get when transferring. For example does Santander change the GBP into Lira and then transfer the money or do they send GBP and Denizbank do the change at the higher rate?

Thanks in advance.
Julie
 

val2661

Senior Member
#2
Hi Julie, if you want to transfer GBP across to Turkey, you need to have a GBP account at your Bank in Turkey as well as TL account. Well that is how it worked when I transferred GBP three years ago. It then goes into your GBP account in your Turkish Bank and they change it into TL. Hope this helps and if I am wrong I am sure someone with more knowledge will tell you the right way.

Val
 

millsj28

Senior Member
#3
Hi

Thanks

That makes sense. Yes we have three accounts Euro,GBP and Lira but I thought you had to be in Turkey to sign to swap between accounts. I have emailed our branch manager in Turkey so hopefully he will confirm what we need to do.
 

Mary

Non Active Member
#5
Yes if you have internet banking you can change from your Uk account to your lira account on line I do it through the HSBC account in Turkey easy to do on line.
You can do anything on line I use it for paying our aidat via the et link on HSBC very easy and only a 1 lira charge for sending the money this way to any bank in Turkey.
You can then get a print out and receipt that your money has gone and a numbered receipt at that so no worries if they say you have not paid your mainteneance or aidat.
Mary
 

Mary

Non Active Member
#7
Lesleykay sorry I was off line.
Using your HSBC account in Turkey log in then go to Money transfers, go to eft accounts then if you go through the instructions to set up the bank and all the details that you have of the receiving bank including iban numbers account numbers etc. This will then allow you to do the transfers for Aidat etc etc. It works just like a transfer here in the uk. Really easy to set up hope this helps.
Mary
 

jakkigers

Eccleston/Konacik
#8
Hi Mary, İ think İ am being really thick here but İ can't see a way of transferring money from my HSBC account in the UK to my HSBC Turkey. İ logged on to my HSBC Turkey account and went into Money Transfers but it just seemed as though İ could transfer money from my Turkish account elsewhere. İ couldn't see how İ could transfer money TO my Turkish account. Am İ missing something.

Last time İ transferred money from the UK to Turkey through HSBC in England, it cost me about £17 and İ would love to avoid that again!

Jak xx
 
#9
Hi Jakkigers, to transfer money from the UK you need to get your UK HSBC account online....enter in the following.

1. Make payment from (account num & sort code)

2. Name , address.

3. Reiceiving bank identifier code.....HSBC***** whatever.

4. reiceiving bank IBAN num (about 24nums)

5. Reasons for payment (maybe expenses)

6. Sender to pay all charges ( Premier customers no £17 charge)

7. Amount to be transferred.

I am assuming you are transferring to an HSBC account in Turkey. Transfer in pounds to your Turkish Sterling account, when it arrives same day or next.... change into TL through your online Turkish HSBC account.

Easy Peasey Lemon Squeezy.
Warren
 

jakkigers

Eccleston/Konacik
#10
Thanks Warren İ will have a go. Yes İ am transferring between HSBC Premier accounts in UK and Turkey. The thing is İ did this earlier this year and got charged £17,40 to do it.

Jak xx
 

Elvira

Senior Member
#11
Another-perhaps a more simple way because Turkey is not on Global View' for easy on line transfer between HSBC accounts.This is to ring tel banking in UK set up a template for frequent transfers and then on line in Turkey(mine arrived within hours) change it from sterling to lira.The next time you need the service just press option 2 then 3 on tel banking.
 
#12
HI again Jakkigers, so.... yes if you are a Premier customer in the UK and Turkey then yes you need to do it by telephone banking to avoid charges, when you get through on the phone and have given your SORT CODE and ACCOUNT NUM etc, then tell them you are a PREMIER customer whereupon you get put through to PREMIER ACCOUNTS, you should not then get any charges at all.

It is the Istanbul HSBC branch that is making the charge.
Warren
 

jakkigers

Eccleston/Konacik
#13
So how do I stop the HSBC Istanbul branch from making the charge - or can I not? I did tell them I was a Premier customer last time. Sorry for being a nuisance!

Jak xx
 
#14
Not a problem J. gonna tell you a little story.......I became a Premier cust. here in Turkey in 2008 and carried on doing my transfers every 3 months...UK to Turkey and just being charged £17 internet transfer charge.

Anyway I was happy enough with that, .....and then I started to get charged another £17.40 late 2010. Turned out to be the receiving bank in Istanbul, Why they suddenly started to charge the £17.40 no idea.....don't ask.

Then someone informed me that if I was a PREMIER cust. in Turkey I automaticaly became one in the UK and should not be be then paying any charges at all, in fact an HSBC PREMIER cust. worldwide. Whooaaa ayup...I did'nt know that I said.

So I phoned HSBC UK and they said yes that's right you are worldwide although Turkey is not in the global network yet.

She put me through to the PREMIER man....he took one or two details and said it would take about 20mins or so on the phone to set up for transfers and he will ring ME back cos of the phone cost, which he did.

After it had all been set up he said if you do it on the internet you will incur charges....so instead you have to telephone me/us that way no charges. And so it came to pass that I have not been charged for any transfers since.

So basically I am saying you will need to ring HSBC UK and tell them you are PREMIER cust in UK and TURKEY and you should not be paying anything.

Sorry drawn out but hope it helps.
Warren
 
Last edited:

tosmur

Senior Member
#15
Hi

I want to transfer some money from our UK account into our Turkish Lira account in Turkey.

The rate you get in Turkey is a lot higher than what you get here in UK so I was wondering if anyone knew which you get when transferring. For example does Santander change the GBP into Lira and then transfer the money or do they send GBP and Denizbank do the change at the higher rate?

Thanks in advance.
Julie
It depends how much you wish to transfer, you can transfer via the Turkish bank, the rates are not as high as in Turkey but they will transfer to a Turkish bank account. It also depends where you live in the UK (whether you have a Turkish bank near you.
Turkish Bank (UK)
Bottom right corner transfers £4.50, you fill in a form and tick the box at the top of the form TRY, this means you want to transfer Turkish Lira, even though you pay in sterling.

I hope this is useful
 
#16
Hi.Why send money via the internet when you can take just under £5000 each every time you go. Internet banking is good but too many security issue's. I just use it to check on balance. Electronic banking fraud is rife in Turkey and if you lose your money there is no guarantee as in uk for the bank to cover your loss. Also the uk tax authorities get a flag on their computers when large transfers are made electronically (£5000)to counter money laundering from drugs etc. Cheers. Mike
 
#17
We have a standing order every 3 months and used to pay £40 a time to transfer money, then we found out that as Premier customers there should have been no charge! If you transfer HSBC UK to HSBC Turkey via the phone, takes 1 day to reach your Turkish account and the charges are nil, just phone them up 00441226 260 260 from Turkey


Sara
 

ahmed226

Senior Member
#18
the regular banks make you pay ugly charges when doing international transfers. I would recommend a currency specialist like Smart currency or Hifx.
 
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