Deposit
Demand Deposit
Deposit account without a maturity date which can be opened in TRY or in foreign currency.
Time Deposit
Deposit accounts which are opened to gain interest income in a proposed period of time. Can be opened in both TRY and foreign currencies.
Loans
Short Term
Loans available in TRY and foreign currency to supply with the short terms financial needs of the companies.
Long Term
Loans available in TRY and foreign currency to supply with the long term financial needs of the companies.
Over Draft
Loans available in TRY and foreign currency to supply with the daily financial needs of the companies. Interest payment for this type of loan is collected on daily basis.
Trade Finance
Payment methods used in export and import transactions are as below;
Advance Payment; In this method, importer pays the cost to the exporter before the delivery of the goods.
Cash Against Goods; Importer pays the cost to the exporter after the delivery of the goods.
Cash Against Documents; After the delivery of the goods, exporter gives the documentary collection with an instruction to his bank. Bank accepts the collection for cash against documents or documents against acceptance and delivers them to the importer. In Cash Against Documents process, banks are obliged with sending the documents for collection, delivering the documents and cashing them in favor of exporter in accordance with the payment instructions
Letter of Credit
Letter of Credit is an irrevocable conditional payment commitment. Importer’s bank, upon the demand of the importer, guarantees that a letter of credit under the conditions specified in the offer letter issued by the importer in exchange for consideration of documents submitted by the exporter will be paid
Letter of Credit is a non cash loan transaction. This situation requires a credit relationship between the exporter’s bank and the importer’s bank.
Letter of Credits are grouped as follows depending on the payment method;
-Sight Letter of Credit: Payment is made to the seller upon the presentation of the documents related to the goods
-Deferred Letter of Credit: In accordance with the agreement between the applicant and the beneficiary of the letter of credit, after a certain period of time passed shipping of the documents, allows the payment of the letter of credit amount to the exporter. Payment is made on the payment date, not on the presentation of documents
-Acceptance Letter of Credit: A type of letter of credit realized by the presentation of a draft to the bank along with the documents by the applicant. Payment is made on the draft’s maturity date.
-Mixed Letter of Credit: Payment of a letter of credit in mixed methods like part cash part upon document submission or on a maturity date.
Pre-Finance
Loans with at least eighteen months of maturity to be used in finance of buying goods and services, which brings interest income. Companies provide these loans from overseas buyer or from international market. Banks in Turkey or private finance companies realizes the buying process (with or without guarantee )
Export Discount
Discount is a cash loan, from an undue amount of export, corresponding to the period until the date of maturity of interest, provided after deducting the commission cuts and interest
Acceptance/Avalisation Payment
In forward dated transactions documents are delivered either in exchange for the acceptance of bill of exchange or promissory note by the importer or in exchange for the acceptance of the customer or the avalisation of the bank. Can be used in transactions with Cash Against Goods, Cash Against Documents and Letter Of Credit.
Avalised transactions are within the payment guarantee of the bank.
Guarantees
Letter of Guarantee
Letters arranged in foreign currency for the non- resident persons / companies. Described as non cash loan
Counter-Guarantee
Process of arranging a letter of guarantee directly to the described respondent referring to the counter guarantee opened by the beneficiary’s bank with the consent of the beneficiary. Counter guarantees are the guarantee of the arranged letter of guarantee.
Transaction Banking
EFT
Transfer method of TRY fund sending and receiving for all the national banks participating in the CBT’s EFT system. If the payment is in accordance with the rules of MASAK, transfer is realized with customer instruction.
Remittance
Upon customer instruction, transfer of funds from customer’s accounts to another person’s account or transfer of funds between customer’s different accounts in the same bank
SWIFT
SWIFT is a payment method where funds are transferred between the banks and the financial institutions. Payment is realized upon customer instruction from the SWIFT system if the transfer is in accordance with international financial sanctions and MASAK rules.
Internet Banking
Account Statement & Monitoring
All the movements in the demand deposit and time deposit accounts can be viewed and printed from this menu
Domestic And International Transfers
Realization of national and international money transfers via EFT, Remittance and SWIFT. Internet banking service offers the customer an opportunity to enter their own EFT and SWIFT transactions
Foreign Currency Buy/Sell Transactions
Buy/sell transactions of all the foreign currencies available in our bank’s transaction list are realized from customer’s available foreign currency accounts.
Salary Payment
This screen is for the salary payment of the company employees. By uploading the appropriate file containing the salary information of the employees to the internet banking system, employee salaries can be paid.
Client Information Updates
Our customers can update their communication and contact information stored in our records via this menu.
Treasury
Spot Foreign Exchange and Parity Transactions
Process of obtaining income via foreign exchange investment by utilizing exchange and parity changes via usage of time deposit and demand deposit accounts.
Foreign Exchange Forward Transactions
Process of hedging foreign exchange risk by purchase or sale of one currency for another at pre-agreed exchange rate on a specified forward value date.
FX Swap Transactions
Process of managing cash flows in two different currencies without acquiring foreign exchange risk via simultaneous purchase and sale of identical amounts of one currency for another with two different value dates.
Foreign Exchange Option Transactions
Process of hedging foreign exchange risk as an alternative to spot/forward transaction via purchase or sale the right but not the obligation to exchange one currency to another at pre-agreed exchange rate on a specified date.