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Friday, June 24, 2011

Turkish Banks




Turkey, which is located in South-Eastern Europe and South-Western Asia, is a predominantly Muslim country with an approximate population rate of 75% Turkish Nationals and 20% people of Kurdish origin. The currency in Turkey at present is the New Turkish Lira (TRY). Turkey has a powerful banking system with interest rates that are very reasonable from the people's perception.

There is a Central Bank in Turkey as well as large numbers of Commercial Banks such as, Garanti, DenizBank, Oyak Bank, Seker Bank, AkBank TAS, etc. Regarding the timings, banks in Turkey are generally open all week days from 8.30 AM to 5 PM. Also, the provision of internet banking services and telephone banking services are available round the clock, which is a great advantage for those who are in emergency needs. Turkish Banks also provide a wide range of banking services starting from the retail banking services to large corporate banking services. Some of the retail banking services offered by Turkish banks is, deposit and savings account, checking account, money transfer services, personal loans and mortgages, deposit and savings account and many more, all provided under fair bank interest rates.

The three main core accounts of Turkish banks are Current accounts, savings account and deposit accounts. Current accounts are commonly used for day-to-day banking and for easy accessibility to funds. Some of their facilities include ATM cards, phone banking and internet banking, cheque facilities, making payments and all other types of bank transactions. When dealing with the matter of bank interest rates comparison, savings account offer more competitive interest rates than current accounts but may include certain restrictions regarding the money withdrawals and access to funds. They offer lump-sum options, flexible regular savings options and so on. The Turkish bank providing the highest interest rates usually offers these high rates on deposit accounts, but with more limited access to funds.

Other than these there are excellent Turkish Banking services by which the people are benefitted. A credit card is one of the notable features among them. These banks offer their own branded Visa and MasterCard credit cards to their customers. As soon as your main bank account has been opened, credit cards can be applied. There are also some specialized money transfer services provided by Turkish and International Banks which is in wide operations today. Generally, bank servicescharges vary from banks to banks in Turkey and hence they are almost unpredictable.

Generally speaking, Turkish banks are well-specialized and organized with all effective systems and service personnel, accommodating all the latest banking services in a sophisticated and customer-friendly manner. And the best and unique feature of these banks is undoubtedly their bank interest rates which has made them remarkable and successful worldwide.
(ArticlesBase SC #4943516)
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