If you have any queries please call us on
0800 0320 480
What is the interest rate?
60 Day Notice Account gives a competitive rate of interest on balances £1,000 and above.
Variable interest rates apply to the account on balances £1,000 and above.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.
Net is the rate of interest which would be payable after allowing for the deduction of income tax at the specified rate.
What are the benefits of a 60-Day Notice Account?
A 60-Day Notice Account is ideal if you do not need immediate access to your funds and would like a higher rate of interest.
– A competitive rate of interest
– Minimum balance only £1,000.
– Additional deposit is minimum £500
– Easy to operate
How does the 60 Day Notice Account work?
Your first investment should be by a personal cheque payable to the name/s of the account to be opened by Turkish Bank UK or a transfer from your existing personal UK Bank or Building Society account, in addition we would require your signed Application Form
We offer banking by post as well as face to face at all of our branches. If you require further information or an Application Form to be sent to you, please telephone our friendly staff on 0800 032 0480, 9 am to 5 pm, Monday to Friday.
To contact us by post please write to us at:
Turkish Bank UK
84-86 Borough High Street
London SE1 1LN
If you are an existing customer please quote your account number to help us assist you with your request.
How to make a deposit?
You can deposit initial and additional funds with us by:
- Personal cheques must be payable to the name/s of the account to be opened by Turkish Bank (UK) Ltd. The initial deposit must be for a minimum £1,000. Third-party cheques are not accepted.
- Your cheque must be drawn on a UK personal Bank or Building Society account in the exact name as the applicant. For joint applicants, your cheque should be drawn on a joint personal account in the exact same names of the applicants. If this is not possible, then a personal cheque from each applicant is required.
- Regular or occasional transfers from your Bank or Building Society account.
- Additional deposits cannot be under £500.
- No cash payments are allowed.
Can we open a Joint Account?
Yes if required, we will open the account for you as a joint account. Your instructions will apply to all future accounts you open in all names unless you specifically tell us otherwise.
A joint account means:
- All of you are jointly and separately responsible for keeping to the terms and conditions. If any of you does not keep to them, we reserve the right to take appropriate action against any or all of you singly or altogether.
- We may give any information about the account to any of you, even if you choose that all of you must sign instructions to us together.
- If you choose to allow any one of you to authorise transactions on the account (which may be without the other’s’ knowledge), we will not be obliged to make any enquiries about the purpose of any such transactions.
- The account cannot later be put into just one of your names, unless you all agree in writing.
- If there is a dispute among you about your account, we may require you all to authorise transactions until you all agree how the account is to be run.
- If a joint account holder dies, the surviving account holder(s) may continue the account in his/her/their name(s) or close the account without penalty.
How to withdraw funds?
Payments will be made either by Electronic Funds Transfer direct to your nominated Bank or Building Society account (the Application Form asks for your nominated account details) or by bankers draft drawn in your name. Instructions to pay money to a third party cannot be accepted for security reasons.
To withdraw funds from your account:
- Instructions can be given to us by post. Faxed instructions will only be accepted if a Bank indemnity form has been completed. (This can be obtained from the Bank).
- Provided a minimum balance of £1,000 is maintained in your account, the minimum amount you can transfer from your account is £500. Early withdrawals are subject to penalty.
- You need to give 60 days advance notice. 60-day notice begins from the receipt of your written instruction. Withdrawals without the 60-day notice period are subject to 60 days interest loss on the amount withdrawn.
- No cash withdrawal is allowed.
- If a sole account holder dies, the personal representative may close the account without penalty. If a joint account holder dies, the surviving account holder(s) may continue the account in his/her/their sole name(s) or close the account without penalty.
When do I receive a statement?
Statements will be provided to you within 10 business days of any interest application date. When a transaction occurs, a credit/debit advice will be issued within 10 business days.
What are the charges?
Early repayments are subject to 60 days loss of interest on the amount withdrawn. Min. charge £10.