Daylight robbery by KOOP Bank

[Soner]

I opened a GBP account, minimum 100tl required to open GBP account online. Account opened using my online TL account on 27/12/2021, of which they made a killing on the exchange rate giving £5.88, Four days later on 31/12/2021 the money leaves my account for some reason or other. I went to my local KOOP with online print-off of GBP account statement showing £0.00, to find out why money had been taken out. Reason given by manager was that it was an annual charge which they take at end of year. I told him that what the bank had done was shameful, and I had never in my life seen or heard of anything of the like; told manager that I was preparing to transfer GBP's to the account, but now wanted to close the account. To close the account they wanted a further £4.77 which was short of the total annual charge. I laughed, told them to take it from by TL account and whilst doing so to close my TL account as well.

You could not make it up if you wanted to....

[OldOwl]

Haha, idiots!!!

[Chriswright03]

I had the same recently with Turk Bank. We tried to use the card to pay for something small and yet there was insufficient funds. I had checked with the ATM the day before and knew there was the vast amount of 220tl in it. We were in the process of running it down so we could close it as we no longer need it. I then find that they charge 95tl every 3 months for us to be able to use the debit card. Now I hadn't been told about this so knew nothing of it. So when we tried to use it for 140tl there wasn't enough on it.

I find it appalling that they can charge you for something and not tell you in advance that they will be doing so. Needless to say the account is now closed and likewise if they want paying to close it they can take it out of what is left if anything.

[Soner]

Haha, idiots!!!

That's putting it politely!

[benjaminbutton]

I could be wrong here but is it just the TRNC banks that perpetuate this daylight robbery OR is it written in the 20 or so pages, written in a size 6 font in Turkish, where it is explained in great detail when you first open an account?

[EnjoyingTheSun]

I could be wrong here but is it just the TRNC banks that perpetuate this daylight robbery OR is it written in the 20 or so pages, written in a size 6 font in Turkish, where it is explained in great detail when you first open an account?

I think it is clearly at the bottom of page 17

[waddo]

Strange that, when we opened our account with Turk Bank I asked for and received a complete list of charges in English as well. I did think that 95tl a quarter was a bit steep but on reflection it worked out cheaper than exchange rate costs and withdrawal costs in Sterling from ATM’s.

[Chriswright03]

Thing is you shouldn't need to ask for a list of charges. It wasn't the only issue we had so decided to call it a day with them. Life is just too short to spend in there waiting to be served.

[Saddique]

Unfortunately it is not just one bank that practises daylight robbery. Most of them have extortionate fees or charges when taking out money or receiving money from abroad or even making transfers.
once i tried to take TLs out of a Ziraat branch in Lefkosia, but could not understand Turkish in order to operate the ATM as no English option was available. So i walked inside to the cashier and then he said he can give me TLs but there would be a charge for this.
Another time Credit West took a £153 pounds fee from a swift transfer from London to here. Its extortionate.

Even Natwest Bank are " crooks " .They charge a 2.75 % Non sterling transaction fee on foreign purchases and then they give you a C**p FX rate as well.
So for a £5446 pound chip n pin transaction in TRNC, Natwest charged me an extra £509.41 for the privilege .......Major Lesson learnt !
After learning the hard way about banks here , i use Revolut and it saves me a small fortune.

1.Revolut gives better exchange rates.
2.You are allowed one swift transfer ( any currency ) from UK to TRNC per month with tiny fees that the Local banks actually charge and not Revolut
3.Unlimited FX transactions and Fee free purchases on their card.
4. Instant payments from Revolut to Revolut ( best way to receive money from UK to here)

I think as expats, Revolut can save you money and definately worth looking into for those who dont have it

[PapaBravo]

And yet - when I transferred the proceeds of my villa sale last year (nearly £200,000) Nesrin at Catalkoy Credit West had it transferred to my UK GBP a/c for under £20!!

[benjaminbutton]

PapaBravo, you must have taken a box of Bacalava with you to eat with the turkish coffee whilst waiting. It works wonders in the police station as well!!

[PapaBravo]

Benjamin, we always had excellent service from Nesrin; she really was a star.

[benjaminbutton]

Was that her personally do you suppose, or Credit West as a whole.

[Saddique]

If you really got charged under £20 for transferring nearly 200k , then that is very unusual and well done to you.
Considering they will have to initiate the payment from Credit west via their intermediary bank Vakif Bank and then onto a UK GBP Bank , which involves work , that is a low charge.

Yet they would have deducted about £300 for the same sum coming into Credit west , and in this scenario they would have done very little work to receive the payment from a UK Bank.

could this be another example of " who you know "

[benjaminbutton]

Saddique, I think you have hit the nail on the head. We have been with CW quite a number of years, and not found them overly helpful lately. Nesrin used to be extremely helpful when she was at their large Karaoglanoglu branch, but things seems to have changed over the last year or so.

[PapaBravo]

Well, I was not a personal friend of Nesrin at Catalkoy Credit West, just a very satisfied customer due to the courteous and helpful service I always received from her (she is/was the English speaking representative at the branch). I can say no more!

[benjaminbutton]

I totally agree, things are definitely not the same IMHO at the K branch.

[ginge]

Why do people expect service from a business for nothing?

[Saddique]

Why do people expect service from a business for nothing?

I myself don't expect Banking services for Nothing , i am willing to pay something reasonable , but i am unwilling to get robbed !

[Soner]

Why do people expect service from a business for nothing?

I myself don't expect Banking services for Nothing , i am willing to pay something reasonable , but i am unwilling to get robbed !

[poppy++1]

We cant speak highly enough of Nesrin at Creditwest, she is and always has been professional, polite. courteous, respectful, helpful, and knows her job.
What more can you say on outstanding customer service and satisfied customers,

Other banks available...........but we prefer CW ........

[benjaminbutton]

I don't think anyone is commenting on Nesrin, we found her very good indeed. It just seems that CW Karaoglanoglu branch doesn't have the same "buzz" that it used to have and the staff seem to change fairly frequently. Whereas once we were welcomed now we are greeted with blank faces. Even when we commented that the ATM was playing up, we were told that it had run out of cash, but would be refilled in 5 mins. 20 mins still not refilled "the man who does it has gone to lunch" and yet staff could see us sitting there. It does rather take the gloss off doesn't it?