TEB Bank now charging?

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steveodp
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Re: TEB Bank now charging?

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Post by steveodp »

Also a little off-topic (sorry) - an alternative to Revolut is the Starling account - its debit card has no non-sterling transaction or cash withdrawal fees worldwide - you can make up to six cash withdrawals a day, totalling a max £300 - you'll also earn 0.5% AER interest on up to £2,000 and 0.25% AER interest up to £85,000.
I've used it without issue in N Cyprus (was a little surreal using a Starling card in the Starling supermarket...)
More info here: https://www.moneysavingexpert.com/credi ... /#starling

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Re: TEB Bank now charging?

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Post by Keithcaley »

Also look at KeithCaley's post above where he was charged, but couldn't remember what buttons he hit on the ATM


I did find that Iktisat Bank don't charge for TL withdrawals...

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Re: TEB Bank now charging?

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Post by alphamike »

Keithcaley wrote:

I did find that Iktisat Bank don't charge for TL withdrawals...
Yes you did KC and thank you for that, very handy to know.

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Re: TEB Bank now charging?

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Post by Trigger »

alphamike wrote:
Keithcaley wrote: The screen on this particular machine is rather faded, and in Turkish, so I may have missed this question, I certainly do not remember seeing it on this occasion, so I may well have inadvertently pressed 'Yes' .
After topping up the TL on my card, I noticed that the transaction seemed to be a little faster - 'somewhat shorter', this may be due to the fact that once the ATM saw that there was TL available, it simply skipped the bit about the exchange rate as it would have been irrelevant. That's just a guess of course, and I could be wrong.

After the first attempt, when I was charged for the transaction, I transferred enough TL onto the card account to more than cover all of my subsequent withdrawals.

The Bankamatic / İş Bank ATM did ask the question (in English) about using their exchange rates etc. to which I answered 'No', but the İktisat Bank ATM didn't ask, it simply dispensed the TL with no fuss and no charges.

Bearing in mind, this is completely from memory on the Ziraat ATM. Once you key in your PIN, the very bottom right hand side on screen gives you "other Languages" and then choose whatever, obviously English for me.
Then comes all the blurb about % rates, press the NO button at left hand bottom of screen. The Yes button is on the right hand side, you don't want the bank converting at their exchange rate.

First time I used the machine, I panicked when I saw all the blurb and high rates and pressed No, thinking that I was cancelling the transaction, and out came TL with no charge by ATM or Revolut, so it was handy to have the brief panic for the knowledge learned. I haven't tried with only Sterling on my Revolut card. Very useful to know that Iktisat bank don't charge.

I was thinking that even if you need more than £200 per month, it would be worth paying the 2% interest with your Revolut card, taking TL out, rather than paying the charges for taking out Sterling at the various ATM's.

Incidentally, I noticed someone had said they were charged a high fee for taking out 4000TL. I've checked on the websites of a few banks, but not all here, and the limit seems to be 1500 TL daily, and you will be charged for taking over that, so worth bearing in mind. Probably better taking out the 1500 TL limit over a few days if you can. Probably a good idea to check out individual bank websites for details.
It also doesn’t help if you go around lunch time and it is sunny. It’s a right effort just to be able to read the screen.

Great advice btw, very useful. Thanks

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Re: TEB Bank now charging?

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Post by Deniz1 »

Turk bank no charge for tl

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Post by Keithcaley »

Thank you Deniz!

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Post by JoandJelly »

Deniz1 wrote:Turk bank no charge for tl
Even if using a UK card?

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Post by alphamike »

Trigger wrote:
It also doesn’t help if you go around lunch time and it is sunny. It’s a right effort just to be able to read the screen.

Great advice btw, very useful. Thanks

You are not wrong there, it's a nightmare trying to read the screen in the sun. You'd think they'd have some kind of shade covering ATM's here.
You are very welcome. Any way we can help each other to avoid bank charges at the various banks is good news for us all.
Deniz1 wrote:Turk bank no charge for tl
Thanks Deniz1, great to have another bank to use with the Revolut card.

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Post by Deniz1 »

No charge from this end using a uk card but charges from my uk bank. Its actually less than the ATM charges here and I dont have to go to the money exchange.

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Post by JoandJelly »

Deniz1 wrote:No charge from this end using a uk card but charges from my uk bank. Its actually less than the ATM charges here and I dont have to go to the money exchange.
Thank you.

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Post by Barbara »

Interesting as none of the banks in Turkey charge to withdraw Sterling.

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Post by ozankoys »

I can confirm that there are currently no charges for using Barclays Visa Debit to withdraw STG from Barclays UK account at TEB ATMs athough I do not know if there is a monthly limit.

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Post by Dropshort »

Anyone tried recently using their Nationwide Visa Debit card to withdraw sterling from TEB ATM’s? If so was there a charge?

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Post by Rugbyfan »

[quote="Dropshort"]Anyone tried recently using their Nationwide Visa Debit card to withdraw sterling from TEB ATM’s? If so was there a charge?[/quote


Is there anyone who can answer this question we are coming for a 6 week holiday and use a Nationwide flex account debit card to withdraw Sterling from TEB ATM.

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Post by bevron »

Hi.

I use the Nationwide visa debit card and although Nationwide does not charge for drawing sterling, the various bank's cash machines will charge between 2%- 3%.

hope this helps. Bevron.

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Post by Chriswright03 »

Bevron can you be more specific? The question asked is does TEB charge? As a Nationwide account holder I have stopped using the ATM/s due to the charges but I, like many would benefit greatly by knowing if any of the Banks here do not charge.

So are you saying the TEB does, doesn't or you just don't know?

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Post by bevron »

Hi Chriswright03.

Sorry for the failure to address the actual question. For the past 6 months I did try several bank machines but I cannot remember if I tried the one in question. Someone else most likely will answer, my guess is they will charge.
Sorry again Bevron.

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Post by waddo »

Chris, At the moment, because only God knows what will happen after Jan 31st and Dec 31st regarding Nationwide. Nationwide will not charge you for withdrawing Sterling from any ATM in the EU! Currently Nationwide class the TRNC (and I believe Turkey as well) as being in the EU or giving both of them a waver on charges. However, the TRNC ATM's have started to charge Nationwide card holders a Sterling withdrawal fee. I think their, TEB ATM's, charge withdrawal fee at 2.1% of the amount withdrawn! This means that if your withdrawal limit per card, per day is £500.00 you can not withdraw that amount because the 2.1% fee for £500.00 is £10.50 and is included in your withdrawal amount total making your attempted withdrawal £510.50 and will be refused! I have reduced my withdrawal totals of Sterling to £450.00 which makes my overall withdrawal total of £459.45 taken from my account. Altogether it means I lose £28.50 per month due to bank ATM charges and that is the least I can get it to.

Hope that helps.
Make happy those who are near and those who are far will come!

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Post by Chriswright03 »

Hi Waddo I was aware of the charges having fallen foul of them before. I was more interested that it looked like TEB had now stopped charging. Nationwide don't charge me but paying a charge levied by the local bank that is more than we get in interest in the UK is a bit hard to swallow.

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Post by waddo »

Chris, know the feeling, my online saving gives me 0.05% interest which is a bit of a drop on 2.9%! But I remain happy with Nationwide as a bank and sleep at night, not having any money in Turkish/TRNC banks! I know of people here who have changed their savings in Sterling in a Lira account - because the interest rate was so much better - on the advice of their bank. Now, those same people have lost nearly half of their savings, a considerable amount but do the banks care that they gave bad advice - nope, they still make the money.
Make happy those who are near and those who are far will come!

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Post by mrsgee »

I think it depends how you view things. We have lived here for almost 11 years, yep have money invested in Turkish bank, which for more than a year has given 20% or more, and is now down to 9% but more than enough for us to live on that interest and have a very good life.... whilst not touching our uk pensions, so a bit of a smart way of getting back to what we lost on paper. Win win.

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Re: TEB Bank now charging?

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Post by alphamike »

Using a Revolut card today at Turkiye IS bank, they wanted to charge me 29TL to take out 1000TL. (I had plenty of TL on the card). I declined their offer and went to Ziraat bank where I obtained TL without any charge.

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