donss

Member
Bank accounts
Hi all:

pre- arranged Bank Accounts

In the run-up to taking possession of our 'Spring' apartment from Mecitoglu, they (Mecitoglu) have opened a bank account in my name, on my behalf, with Garanti Bankası in Manavgat.... for the purpose of making final build payment, running the apartment afterwards etc......

Has anyone else had this done (pre-arranged account opening), and is it safe to go ahead and transfer monies into this 'arranged' account prior to arriving in Turkey, in order to finalise completion payments and taking ownership of the apartment.?

I know this sound nieve, but dealing with this company has been so easy and trouble free so far..... It would be good to hear positive advice, but also good to hear otherwise, so I can make alternative arrangements if necessary.

Any feedback / advise would be greatly appreciated.

Rgds., Don & Dawn S.
 

moortenerife

moortenerife
Bank accounts
when i opened a bank account in manavgat (deniz bank) i could not have it in joint names as my husband was not with me at the time, i took his passport and tax number with me. i therefore have it in my sole name. i have just deposited money from the sale of a property here in side at the hsbc bank where we also have an account this time in both our names, however i need some bill or paperwork to verify my home address before they will let me transfer the money to the uk. i would be very suprised if someone could open an account on your behalf, so be carefull.
 
L

les&Tasha

Guest
Bank accounts
Hi,

You need a Turkish tax number from the tax office, your passport, and proof of address to open a bank account. Oh and you need to sign the paperwork personally. I would be very suspicious of this. It appears to be a tax avoidence ploy. You should only pay money into the registered company bank account of Mecitoglu. Do not pay any money into a personal bank account. It is money laundering.
 

marygerard

New Member
Bank accounts
We have also a spring apartment,and went to Turkey in August to make the finish payment.People from Mecitoglu called to the bank,of the last payment is on the bank,the always no of you have money on the bankaccount,white you have open.We also no that the last payment is a part cash,and a part banktransfer.The part cash is a strang thing,because the don't want al the money by banktransfer.We think that it is Turkish(tapu is lower).
 

martin m

Member
Bank accounts
Hi donss
If you dont feel confortable with the arrangment then dont do it, simples!!!
Its your hard earned cash be carefull.
martin
 
L

les&Tasha

Guest
Bank accounts
MaryGerard,

Quote

"The part cash is a strang thing,because the don't want al the money by banktransfer.We think that it is Turkish(tapu is lower)."

This is against the law in Turkey. Do not do this. The purchaser has everything to lose (even your apartment!) and the developer avoids tax. The purchase price equals the Tapu price Equals the amount of money paid into the developers tax registered bank account.

As simple as that.
 

Leo

Member
Bank accounts
Hi Don & Dawn,

We have an apartment next door at Four Seasons. This is the arrangement we had also. They like you to have a Turkish bank account - so that you can make direct payments for your running bills. That said Mecitoglu have recently introduced a card credit payment system - with which you can pay your bills over the secure on-line internet system (aftersales introduce this to you when you take possession of the apartment).

We have found the Garanti bank to be safe & good. They usually have an English speaking teller available in both Manavgat & Side branches. They also have english speaking people on the telephone banking system. Finally, you can use internet banking with Garanti (and they usually allow you to open 3 accounts (TL, GBP & Euro) so you can take advantage of the differences in exchange rates from time-to-time.

The final payment for us was done exactly as you describe. I arranged via my UK bank to transfer the final payment into MY account with Garanti (cost of this was about £35- with Barclays) then, when we got over there, and were happy that everything was OK, then the aftersales people take you to the bank and you arrange the transfer - NB: It is done electronically and not via cash!

Mecitoglu then sorted out the TAPU and delivered this to us (there was a short delay due to the change in legislation at the time). Nb: It is NOT a tax scam or any of the other things you have been warned about by others - evidenced by the fact that the full purchase price of the property is shown on the TAPU (in TL).

Hope this is helpful and puts you mind at rest.

Have a fab time & enjoy your apartment - It's in a wonderful place.

Cheers

Leo.
 
L

les&Tasha

Guest
Bank accounts
Leo,

I bow to your personal experience with this developer. I am still puzzled how they opened a bank account without your presence? I do not see how this can be done. You cannot open a bank account in someone else's name. Period.
 

donss

Member
Bank accounts
Thanks to all who have read and replied to my posting:

Despite the usual situations where you would normally assume that an account could only be opened in person, it appears that Mecitoglu have the 'ability' to do this on behalf of their clients.

I have been supplied with an account no., an IBAN No. and a SWIFT No. for an account in my name only, at Garanti Bankası, even though I have had no direct contact with the bank, nor sighted or signed any banking agreement.

Think I'll just leave my monies in my UK account and transfer directly to the builder (remotely) when the time comes.

Cheers
 

Leo

Member
Bank accounts
Hi Les& Tash,

I understand that they have a standing arrangement with the builder. When you sign-up for the purchase (off-plan a couple of years before) they get you to sign the bank forms. They then go and sort the account for you. The bank sends your card to their office (as you need at least a holding adress in Turkey to proceed) and then you pick you cards and books (in a bank sealed envelope) from the builder when you next visit. They then take you to the bank to sign for them (several pages and you have to sign at the bottom of each one). Hope this explains.

Worked OK for us.

Cheers

Leo.
 

judi

Is the sun shining?
Bank accounts
I do understand that we are talking about what happens in Turkey here and it has been ok for some people but to be safe would you be happy if this happened in the UK? We worry about security... pin numbers, account details etc. I'm not too sure I'd feel comfortable with someone else, however trustworthy, setting up my bank a/c etc.
 
L

les&Tasha

Guest
Bank accounts
Leo,

The process you describe is no longer legal. Turkey implemented an internationally agreed set of rules on bank accounts this year. This has resulted in many people getting their bank accounts frozen. The bank MUST have a photocopy of your passport, your tax number and (this is new) proof of your home address (council tax bill utility bill) on file. Alternatively If you have a resident permit then photocopies of your blue book. I bank with HSBC and they refuse to post debit/credit cards. You have to go to the branch in person with your passport to collect them.

I am sure this developer has opened a bank account for Don but I think his decision not to use it is wise. Turkey is a culture where nearly all the rules can be bent but often this is not to your personal advantage. It appears that the bank cannot have proof of address on file. Don has not supplied this so this bank account could be frozen at any time!

My advice is to go to the tax office get a tax number and open a bank account yourself. This will take an afternoon but you will KNOW everything is legitimate.

Les
 

David B

New Member
Bank accounts
Hi There

New member and first post so be gentle with me.

I bought a spring villa from Mecitoglu in August 2008 and await completion which is supposed to be october 15th although the latest pictures do not look like that is a realistic target. We were accompanied by a member of staff from Mecitoglu to carry out various tasks required to buy the villa. Some of them escape me as it was over 12 months ago now but one of them was to obtain a tax number from the tax office to enable us to open a bank account. Unfortunately the computers were down so no reference was obtained. We left copies of our passports and other ID with Mecitoglu and they have since obtained the reference and opened the bank account on our behalf. I must admit i was suprised they could do that and have been a liitle worried about when the time comes for the final payment.

On reflection though we have already paid them a substantial amount of money to an account that has no reference to us whatsoever so this latest payment seems less risky in some ways.

I have so many "does anybody know" questions to keep this forum going for a while, They are mainly to do with furniture, baby food, insurance, car hire and satalite tv but i will do some searching first.

Regards to all

David
 

Ilica Park

The view is fantastic !!!
Bank accounts
Welcome to the forum David

There is a wealth of knowledge here and I am sure you will find answers to most of your questions by searching.

There are going to be a lot of people out in Ilica in October - it will be like an invasion !!!

If you get stuck with finding out anything there are loads of friendly members that will quickly give you an answer or opinion to most points.
 

David B

New Member
Bank accounts
Thanks Ilica Park

I'm just pleased i managed to post something and it actually worked.

Cheers for now
 

mikebaker

New Member
Bank accounts
I have owned a property in Side for over 5 years and although I did not buy from Mecitoglu, I have never heard a bad word said about them.
 

judi

Is the sun shining?
Bank accounts
Welcome to the forum David and feel sure you will get all the answers you need
 

Sunny Seasider

Life is so precious
Bank accounts
Welcome from me David, there's a great search facility if you are wanting information on a specific subject, or just start your own thread with your queries, there's always plenty of very good experienced members who will help you all they can. If they don't know they usually know a manwoman that does, lol. Enjoy.
 

donss

Member
Bank accounts
Thanks Leo, for your reply. Very much appreciated.

Hi David B, thanks for your input to my thread and welcome to the forum....

You are right: we have already paid a substantial amount along the way, into what was effectively an unknown account, so I don't suppose that completing the deal is any different: I'm maybe a bit more concerned about using an account longer term that has been arranged on my behalf..... I think I will look at opening an alternative account when I'm out in Oct.

As has been mentioned though, both above and by myself and others in various other threads; Mecitoglu have been totally painless to work with, and really have been a credit to themselves and Turkish developers as a whole: Glad I went with them!

Hoping to meet up with a few new owners in the next few weeks.... Thanks to all.
 
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Bank accounts
Many of us have had a very bad experience with what used to be Home Sweet Home in Side, then Hasdes, and are now going to lose our houses. I would advise you to do NOTHING without a lawyer's advice. Only hand over the money at the tapu office when the tapu is handed over to you. I am sure from what I have read that you are dealing with a very reputable company, but better to be safe than sorry.
 

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