garanti beware

[rosewall1]

I know that a lot of you think that the sun shines out of Garanti Bank but I beg to differ. I have always found them most difficult and their internet banking most unfriendly, however, when there was the panic that banks might go bust and would only guarantee up to 50.000tl we moved some of our deposit account money from HSBC (whom I have always been happy with) to Garanti. We deal with our accounts online and very rarely have to go into the branches.
When I check my accounts I always check what the interest rates are. Yesterday one of our e-deposit accounts matured and we as per usual took out the interest and left the capital in for another 30 days. Interest rates yesterday were 8.75% and still are on the internet today but my deposit account was showing 8.25% so I telephoned the internet banking and got absolutely nowhere, so drove down to the main branch in Bodrum and asked why. Now if you check the interest rates on the internet you will see that they have two sets of rates the top ones being higher and are the ones that have always been applied to my accounts. The answer that we were given was that if we now wanted the higher rates which is now only for new accounts we have to close our account every time it matures and then open up a new one so that we can have the higher rates. BUT get this to do this we have to go to the bank and do it there.
We were so cross that we said we wanted the money out today oh ho ho, only allowed up to 25,000TL a day but they would ask the manager for a special concession??? After 10 minute wait was told that the manager would not be in for another 15 minutes, so we waited. At the end of the day as from tomorrow they will give me 9.25% for one month what happens after that is anyones guess. One thing the cashier said was that they were encouraging people to use internet banking!!!!!

So if you have an e deposit account that you use the interest to live on, or just withdraw it, then keep a very close eye on what goes on.

 

[Yalides]

Never had to do that in all the time we have lived in Turkey.

 

[Darren]

I dont use Garanti anymore basically because I was happy with HSBC or Yapi Kredi but thats because theres not a lot for them to do...

But HSBC used to have a good personal service AND an internet banking platform that was really very good looking- I mean it looked good and it looked like it worked good too, but...

Then I began noticing strange things...

Like making EFT transfers and having the funds deducted from my acount but never being received on the other end and never receiving acceptable explanations but having the funds ttransferred evenmtually...

Like putting money on edeposit interest at one rate only to findout later that waqs not the rate given at all...

Like watching the flawed accounting system for stock market accounting continue to perpetuate the same miscalculation mistakes repeatedly...

:Like finsing out there disfunctional investment funds have a fee structure that is GUARANTEED to lose you money...

Like watching their fund management department introduce and switch funds a day late and a dollar short...

Like watching new improvements to various systems which are very dificult to coneive how they could be considered any improvement at all- just detrimental...

Ok its bad enough when something "looks good" and then you discover actually thats all it does...there may as well be hamsters running around behind the internet screesn for all I know...thats about as much confidence I have with them...

The worst part is that when these issues are brought up they are absolutley powerless at doing anything to resolve the issues...and I mean anything...

One wonders if there is anyone at all in that bank that has any inkling or experience of being a bank customer for the some of the services they offer...

 

[Lillylilly]

Checked yesterday (maturity date) and our account was showing a rate of 8.25% (down from 10%) but, checked again this morning and its now showing 9.25%. Their site shows 8.25 for TD Acc 30 day and 8.75% for 32 day (we have a 32 day account) now usually we get 1% above the published rate so off the see why they are only giving 0.75%?

As for the internet platform I think its really quite good, very user friendly, and they MAKE you change your passwords every so often when you log-on, which is a pain but also the right thing to do, as most people keep the same passwords so changing them should keep the account secure. Problem is remembering all those different passwords as obviously you cant write them down can you!

 

[Yalides]

Checked yesterday (maturity date) and our account was showing a rate of 8.25% (down from 10%) but, checked again this morning and its now showing 9.25%. Their site shows 8.25 for TD Acc 30 day and 8.75% for 32 day (we have a 32 day account) now usually we get 1% above the published rate so off the see why they are only giving 0.75%?

As for the internet platform I think its really quite good, very user friendly, and they MAKE you change your passwords every so often when you log-on, which is a pain but also the right thing to do, as most people keep the same passwords so changing them should keep the account secure. Problem is remembering all those different passwords as obviously you cant write them down can you!

Agreed.

 

[SonnyJim]

We have been banking in Turkey now for some 8 years with Garanti and Yapi. Both banks have always automatically re-newed the investment at the lower interest rate, so we always make a note of the maturity date and telephone to ensure we get the best rate possible - yesterday with Garanti it was 9.25%. We do not have to re-new the account!!

Of the two banks I find the Yapi website much more user friendly.

 

[rosewall1]

I tried telephoning the 4440333 internet banking number but came up against a brick wall and was told the interest rate for my account was 8.25%. So SonnyJim would be interested to know who you telephone to get the better interest rate.
LillyLilly is your e-deposit account renewed automatically for you? and how did you manage to get such a good rate?

 

[SonnyJim]

In the local branches of both Banks there is an English speaking clerk who we are on first name terms with. Infact, the girl at Garanti normally telephones us on the expiry date before we have to. So I recommend you visit your branch and enquire if there is someone you can deal with on a one to one basis.

 

[Lillylilly]

Yes it is renewed automatically but we do keep an eye on it and also the rate depends on the amount you have in it so our millions earn us the best rate (is millions in halfpennies possibly!!)

 

[Yalides]

I expect top rate tomorrow when we go to Garanti. Bet we are disappointed.....