cash withdraws from ATM's abroad fee's - Turkey

photome

puregeordie wrote: »

Thanks, Funny how some of the forum members on here don't know that you can withdraw sterling from a cashpoint abroad, LOL

Obviously they don't know what they are talking about which I'm surprised at from experienced members.

To be honest I think a debit card is far easier, IMO.

I have never seem an ATM overseas that dispenses sterling.

I dont get why you would want to as like you say you would then have to exchange it, why not just take sterling with you and avoid the ATM

Or as suggested go the best route of a CC particularly the halifax Clarity

Why do you think a debit card is easier?

I have never been to Turkey, are these ATMs all over the place and do they make any charges for withdrawing sterling

andrewf75

puregeordie wrote: »

all of them in turkey, especially where I'm going...LOL just to correct you, thanks.

not all of them in Turkey - a handful in one resort!

I don't think you are appreciating what an unusual situation this is!

Why would you draw out a foreign currency? I can't see the point. Presumably you can pay sterling in bars/restaurants etc? If so you are probably being charged extra. Someone has got to be making money on it otherwise why would they do it?

Sounds to me like a bit of a con to make money out of tourists who can't be bothered to use local currency...

balletshoes

I'm at a loss too puregeordie - what are you going to do with your sterling once you have withdrawn it from the ATM in Turkey (and its definitely not all ATMs in Turkey where you can do this).

If you're going to use it to buy stuff in Turkey, why not just withdraw the TL from the ATM instead? The bank rate you get from the ATM is higher than you usually get in resort anyway, if not the same, so where is the advantage in withdrawing sterling?

nomoneytoday

puregeordie wrote: »

Apparantly a lot of people do this (take out sterling cash)abroad and avoid the non sterling fee.

But then the locals won't give you the best fx rate as you're not using local currency.. It's like using EUR over in the UK. I'd take it, but you wouldn't be getting a rate of 1.24 off me

(Turkey is an exception as they will widely take USD, EUR and GBP)

benjus

Have you got an idea of what exchange rate you will get for GBP to TRY? It's pretty hard to compare what the overall rate will be unless you know that. For example, if the card charges 2% and the exchange place charges 1%, you're already up to 3% which is more than many debit cards would charge to get TRY directly.

Remember that "commission free" is utterly meaningless... it's a bit like saying "we don't charge you for breathing our air". What matters is the exchange rate they offer.

PeteDoff

loadsacash wrote: »

I am pretty sure that I took out Sterling in Ichmyler last year.

I think I may have taken some out in Tooting, but I'm not sure.

Kedi_Yavrusu

You can definitely withdraw sterling from some ATMs in Turkey in the tourist resorts, I would try HSBC to start with, they have the option for sterling. I'm not sure you gain anything by withdrawing sterling and changing it to lira though, I think you probably get a better rate if you withdraw lira, which is what we have always done. You will certainly get better value for money by using lira in bars and restaurants anyway.