butt007

Warren
HSBC Premier Savings limit
Got an email from HSBC yesterday Friday. To stay as a premier customer the minimum amount you have in the account has been raised to 250,000liras starting from Jan 4th 2021. It was 150,00liras from January this year, when it went up 50,000liras, so it has gone up with a big jump.
I suppose with the Lira devaluing like it has to 10liras to the pound etc. it is not a big surprise. But now you only got 3 months to get over 250,00liras.
Oh well, will just have to get out in Alanya, Ataturk St. with my cap and start singing again I suppose....DOHHHH! Warren
 

cigliboy

Member
HSBC Premier Savings limit
What is so good about the a/c that makes you want to stay with them? Can't you use another bank?

It allows me to transfer sterling from my Premier account in the UK free of charge both ends.

I will look at how much it costs to send if I drop out of Premier status.

I only opened my account for this reason,otherwise I would have gone to another bank with more ATMs for instance.

I can use QNB without charge as well.
 

enoch

Member
HSBC Premier Savings limit
It allows me to transfer sterling from my Premier account in the UK free of charge both ends.

I will look at how much it costs to send if I drop out of Premier status.

I only opened my account for this reason,otherwise I would have gone to another bank with more ATMs for instance.

I can use QNB without charge as well.
QNB it's a bit since I have but they always charged when it was finansbank. Is there a limit?
 

elub

New Member
HSBC Premier Savings limit
Got the same email on Friday
"As of January 4th, 2021 HSBC Premier will be available to our customers with savings or investments of at least TRY 250.000 with us in Turkey or to customers who qualify for HSBC Premier in another country"
so I suppose your UK a/c is also qualifed premier, so you might be able to paly that card and stay Premier without moving more money here.
 

cigliboy

Member
HSBC Premier Savings limit
Got the same email on Friday
"As of January 4th, 2021 HSBC Premier will be available to our customers with savings or investments of at least TRY 250.000 with us in Turkey or to customers who qualify for HSBC Premier in another country"
so I suppose your UK a/c is also qualifed premier, so you might be able to paly that card and stay Premier without moving more money here.

I used to qualify in the UK,but since stopping work I no longer do,so I qualify through HSBC here instead. It is a lot less than the criteria in the UK.
 

Crescent

Member
HSBC Premier Savings limit
Good luck with your HSBC Turkey experience. I was a HSBC Tr ‘Premier’ client for 5 years. When it came to transferring my capital to another HSBC bank outside of Turkey it was a financial and stressful nightmare.
I used the receiving HSBC bank Managers office phone for 2 hours (no exaggeration) with no answer from the Turkish HSBC telephone banking personnel! I allege that my Turkish HSBC bank branch who I had earlier informed of my transfer plan had told their Telephone banking service to disappear, as it appears HSBC Turkey were reluctant to release the capital. Eventually a HSBC Turkey telephone banking operative answered the phone (again after 2 hours), she was rude and abrupt! She gave me an exchange rate:confused::unsure:!! and even with the TRL devaluation, lost me 20k from the original deposit (nb I had no withdrawals in the previous 5 years and even made further smaller deposits!).
HSBC TR also charged me to send the money to another HSBC acc, there was no reciprocation waiver of fees. So with HSBC TR webpage icons not functioning is concerning. I asked a HSBC Manager outside of Turkey about HSBC in Turkey and he told me that they are just a franchise operation- take away the posters, the office partitions, the ‘suits’, its McDonalds!
 
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McB

Member
HSBC Premier Savings limit
Crescent wrote...'... lost me 20k from the original deposit'... if you mean 20k in the difference, on the day, between spot inter-bank FX exchange rates and the rate the bank transferred at, then you may like to compare the transfer rate with the central banks official exchange rate for that day ( Merkez Bank Doviz Kur Fark)... if that does not explain the loss, then you should file suit, and I recommend an attorney...

HSBC Turkey is not a franchise operation it is a fully owned subsidiary but that is different than being a country branch... and the difference is very large indeed... HSBC Turkey was formally Midland Bank and only provided corporate banking services, and then bought DemirBank and began offering retail banking services as HSBC Turkey but with Demirbank's underlying technology structure which is really very dubious. Whether it is actually provides technologically automated transaction execution, or is simply recording instructions for hamsters and monkeys behind the curtains to implement, it has a very poor reputation, unlike many Turkish banks with world beating technology... Garanti for example...

The inefficiencies are such that despite best efforts of management and a careful and rigorous staff selection process, the bank struggles to attain profitability...

Worse, the bank has been in trouble in past years with the regulatory authorities, presumably due to various customer grievance failures... because presumably the balance sheet is safe with the parent backing the brand...

I have heard stories of funds placed on electronic time deposit to mysteriously appear as un-deposited months later with no interest paid... bank transfer sums deducted with no transfers in fact being executed... and more I can no longer recall etc
 

Kanga

Member
HSBC Premier Savings limit
Crescent wrote...'... lost me 20k from the original deposit'..


On Jan 3rd 2016 the pound was 4.3TL.
Today (31/12/20) it's 10.14TL.
The e/r drop is 5.84TL per pound sterling, that's 135% change from the original exchange rate of 4.3TL when you made the deposit 5 years ago,so it's not surprising you're £20k down.
 

Crescent

Member
HSBC Premier Savings limit
Quote- I have heard stories of funds placed on electronic time deposit to mysteriously appear as un-deposited months later with no interest paid... bank transfer sums deducted with no transfers in fact being executed... and more I can no longer recall etc- Quote end

High Frequency Trading HFT- Traders have a nano-second trade-window to “snip” off what your trade is, by marking-up/down the trade buy/sell price before the actual time/buy/sell of your deal, providing financial advantage to the broker at a cost to the customer!
Beware of the Bank Bale-ins which will replace your deposits with depositor certificates!
 
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