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Banking
Posted: Tue 11 Oct 2016 7:57 pm
by Poppy+1
Do the banks in TRNC have the safety net in the eventuality of bank collapsing, UK banks have a Personal Savings Protection cover up to £75,000.
Has anyone got a bank preference in TRNC i.e Credit West, Turkish Bank, also one the pays in sterling from ATM, I know Garanti & HSBC have this facility.
Any information would be of help
Thank you
Re: Banking
Posted: Tue 11 Oct 2016 11:48 pm
by ttoli
Iktisat's accounts are covered to £20k per account so just open multiple accounts , to cover yourself, why payment in Sterling though ?, 90% of my out goings are in TL
Re: Banking
Posted: Wed 12 Oct 2016 4:46 am
by Deniz1
TEB bank in town have a sterling option at their ATM. My uk bank charge a hefty fee if I withdraw lira.
Re: Banking
Posted: Wed 12 Oct 2016 7:40 am
by Bowman
Each account is covered to 20000 euros (not GBP) by the Central Bank of the TRNC. Information from the Central Banks web site.
regards Mike Turner
Re: Banking
Posted: Wed 12 Oct 2016 12:41 pm
by lee666
Capitalbank is also €20000 and once again you just open as many accounts as you want up to that amount.
Happy hunting.
Re: Banking
Posted: Wed 12 Oct 2016 12:53 pm
by LooseBoots
Someone mentioned the ATM. I know we used our UK card to withdraw Sterling from HSBC. Then one day we decided to transfer a larger amount by transfer and Girne branch charged us for receiving money, even though it was branch to branch. Worth bearing in mind.
Re: Banking
Posted: Thu 13 Oct 2016 9:07 pm
by Poppy+1
Many thanks for your replies.
It's good to know what bit of money we have is covered, at the moment no need for multiple accounts.
Where is Istisbank and Teb please.
Poppy+1
Re: Banking
Posted: Fri 14 Oct 2016 5:08 am
by Deniz1
TEB is in the town center on the right hand side before the roundabout that leads to the wednesday market.
Re: Banking
Posted: Fri 14 Oct 2016 7:22 am
by Keithcaley
Worth mentioning that HSBC machines will also dispense Sterling without a surcharge - but you do need to check that your UK bank won't charge you either!
Re: Banking
Posted: Fri 14 Oct 2016 7:55 am
by Bowman
Keith,
My English bank (HSBC PLC) charges me for taking cash (GBP) out off the HSBC ATM
Taking Euros out using my German visa is free.
regards Mike Turner
Re: Banking
Posted: Fri 14 Oct 2016 11:11 am
by Keithcaley
Bowman wrote:Keith,
My English bank (HSBC PLC) charges me for taking cash (GBP) out off the HSBC ATM
Taking Euros out using my German visa is free.
regards Mike Turner
I take it that that is a Visa Debit (not Credit) card?
My UK Visa Debit card doesn't charge for GBP withdrawals.
p.s. Hi Mike - I just realised who you are!!!
Re: Banking
Posted: Fri 14 Oct 2016 12:30 pm
by woodspeckie
My Nationwide flex account doesn't charge for GBP withdrawals but does if I withdraw TL.
Re: Banking
Posted: Sun 06 Nov 2016 1:09 pm
by alimem
Koop bank in Girne is good, only 3 days for money to go in account from U.K...