Kuveyt Türk charges a 4 percent fee when withdrawing physical gold. I currently have around 50 grams of gold in my account, and when I attempt to withdraw it physically, a fee of approximately ₺6000 is applied. The exchange rate is also set in a way that the difference between the buying and selling rates equals exactly 4 percent. This means that even if I were to withdraw the amount in cash instead of gold, the same 4 percent would remain with the bank. If no changes or adjustments are made regarding this policy, I am seriously considering withdrawing all my funds and gold, even at a loss, and closing my account. I had previously recommended Kuveyt Türk to many others, but this practice has made me reconsider.
Kuveyt Turk Bank increased the physical gold withdrawal fee from 1% to 4%, and this significant increase is definitely not due to inflation. How can this bank make such decisions and implement them without any oversight? They are also earning extra interest on the gold I purchased with my own money....
I'm encountering a major issue with Kuveyt Türk Bank when attempting to withdraw physical gold from my gram gold account. I'm told that no branch has gold available, and if I wait for one and a half months, I might be able to withdraw once the branch receives gold. In branches, there's a list of nam...
I just recently opened a gold account with Kuveyt Türk that doesn't earn interest. To my surprise, they charged a 4% fee they called a "storage fee" without telling me ahead of time. The bank took a big chunk of my gold as a fee, even though I trusted them to keep it safe. This high fee seems unfair...
When we wanted to physically withdraw the gold from our gold account at Kuveyt Türk, they charged us a 4% fee, which was not mentioned when opening the account. When we wanted to sell the gold to the bank, they bought it at rates far below market value, causing us to lose money both ways. The strang...
Comments