General Chat

For anyone who like me is very p*ssed off with the pittance the banks give in interest to it's customers who have savings or investments which are worth less every day than the day before

If we had a Global banking crisis why can some of these GLOBAL banks offer better interest rates in other countries than they do in the UK

Check out savings and investment accounts in Turkey.

http://www.akbukturkey.com/banking.html

Roy

edit also

http://www.bodrumbulletin.com/community/finance/889-turkish-interest-rate-report

Eh? They want £10 to let you into the 'secret'.

I'd rather stick pins in my eyes!

Sue

Supercrutch could you read this thread out to me please.
I can't see.
I have pins in my eyes.

Their is no secret, Anyone can open a bank account in Turkey,

The first link I posted was because it had a link to HSBC rates Edit, HSBC will not give you their Turkey rates. You have to open an account through their Turkish bank and pay the money in TL rather than sterling

Roy

I wouldn't say Turkey was exactly the wisest country in which to invest at the moment.
For risk takers it could prove good - possibly.
For others it could prove to be financial suicide.

However, just a couple of weeks ago the country's stock market plunged by over 10 per cent in one day and foreign investers are pulling out of the country.

Errol, My main point as in my OP "If we had a Global banking crisis why can some of these GLOBAL banks offer better interest rates in other countries than they do in the UK"

Roy

It's true their is unrest at the moment but their economy has been relatively stable compared to ours

Roy

We are thinking about buying a new mattress :-D :-D :-D

Interest rates differ across international borders because of local base rates.

As far as Turkey is concerned, yes the economy has been relatively stable but it took a long time to pick back up following 9/11 which impacted dramatically on tourism and the huge earthquake about a dozen years ago.

Tourism is one of the biggest contributors to the Turkish economy and it has been seriously hit currently, in part due to internal and external unrest.

Uncertainty over Syria is also playing a massive part in the general uncertainty and that will always have a direct economic impact and knock on effect as confidence wanes.

PMSL Lesley