Kibkom North Cyprus Forum

For the last few years we have been transferring GBP from Santander UK to Iktisatbank here in the TRNC. The only costs were about £5, at this end. The reason was that Iktisatbank used a UK intermediary bank, and therefore there were no other charges.

Now, Iktisatbank has stopped using the services of this intermediary, I believe it was Called IŞ. Now they use Vakifbank, or Vakiflar Bank.

So Santander have now started charging £25 as the transfer is now classified as an International Transfer. They use two UK intermediaries. It goes from Santander in Bootle, to Barclays in London, to Deutche Bank also in London to Vakifbank in Ankara, then to our TRNC bank.

So instead of being charged £5, we have to pay Santander £25, the three intermediaries charge £5 each and the destination bank here also takes £5. So it has gone up from £5 to £45!

What do you do to access your Uk funds?

If it is a bit too personal to put here, please PM me.

Thanks.

Unless you need a lot of cash all at once, I use the cash point.
Our bank here is Turkish Bank and they have branches in London. I send money to the London branch, giving my TRNC Bank details in the reference box. My English bank see it as a normal national transaction.
I went to see them some years ago as suggested by the branch here, because my money spent weeks travelling all over the place. This is what they agreed I should do

My way, not touted as the best so no arguments please.
Swift transfer quarterly (£25.) to Turbank sterling account from Santander uk account. .
1.5% charges this end.
Unplanned needs by Santander debit card in HSBC machine in sterling, no bank charges or commission.

With the right combination of debit card and ATM, you can draw up to £300 per person (assuming that you arrange for your partner to have a card also) per day - in Sterling, so that you can find the best exchange rate - completely free of any charges or commission.

So, if you are diligent, you can draw up to £2,100 per week - or £4,200 if you have two cards.

If that's not enough, there's always 'plan B' but that involves a false beard, and using Waddo as a decoy...

If you can obtain a HALIFAX Clarity Card you can draw down £500 a day without any charges.

Nationwide Flex account (free account) also allows £500 a day for each card holder.

I used to use Nationwide but they charge now for that service.

Journey1
Not sure what you mean. I use NW card to draw Sterling here and have never been charged but as far as I know can only draw out £300 per card, do you mean they charge for £500 withdrawals?

We have a Lloyds cheque book & pay a cheque into our Turkish account which takes 30 working days to clear but at no cost. Works for us.

I draw 500 quite frequently from Nationwide and have certainly never been charged.

Any advance on £500?

£1000 per day with an ATM card for HSBC Premier account.

To gain premier status you need to hold a certain amount of money with HSBC in TRNC (it used to be 70,000tl but somebody recently said it has risen to 100,000) and then your UK account is also upgraded to Premier.

I have also found that HSBC online gives the best exchange rates - far better than 'over the counter' at HSBC. I take my cash from the ATM and pay it into my Sterling account and then go home and use the internet to transfer it into my tl account ....or directly into Euros or Dollars if I need them.

You can use the very nice private lounge at Istanbul airport as a bonus.

Nationwide Flex Account.You will be charged if you draw out funds in the local currency,However if you draw out Sterling you will not be charged.This only applies to EU countries of which the TRNC is included.
I am also led to believe there is a Flex account that you can pay a yearly fee in which case you will not be charged fees for any withdrawals.

HSB Premier,£1,000 per day.

Thanks Judyvin for info, managed to draw out £500 today.

Thank you for all your replies.

It looks like drawing out cash in GBP here with two cards is the best option.

No wonder so many have to travel to town each week or fortnight to get their "Nelson Eddies"

Another question, can you use a machine with two cards at 23:55 and then wait until 00:05 to get another lot, or is it a certain number of hours between withdrawals? Thinking ahead, if you can do this, would there be a long queue?

Finally, has anyone here swapped accounts in the UK from here without travelling to the UK? There appears to be an agreed scheme between lots of banks to swap accounts within 7 days!

Very finally, has anyone tried to get GBP at a casino using a UK debit card and not pay any charges at either end? I ask as I see loads of locals using their Bank cards at casinos like ATM's.

[quote="Butterflyaway"]Thank you for all your replies.

Finally, has anyone here swapped accounts in the UK from here without travelling to the UK? There appears to be an agreed scheme between lots of banks to swap accounts within 7 days!


It is called current account switch service and now apparently comes with a guarantee. You can find it by Google Search. It sounds simple but I too would like to hear from anyone who has actually used it, as I am thoroughly browned off with my current UK bank. Is it as hassle free as it sounds? I suspect for overseas customers the new Bank might stilll want alll the forms, certified copies of Passport, etc which means the extra cost of a courier service. Also it seems to be current account only, and you can only go to another bank participating in the scheme.

I would also like to hear if anyone is getting a satisfactory service from a UK bank, and if so which?

Thanks RR

Have used the HSBC since it was the Midland bank. About 5/6 months ago the criteria here for a Premier account was 75,000 tl. May well have changed. I can draw £1000 per day from the hole in the wall. (Providing it is in the UK bank!!!.)

Butterflyaway wrote:...Very finally...

You can't have "Very Finally"! - It's either final, or it ain't!

...and:

...I see loads of locals using their Bank cards at casinos like ATM's

- I thought that you had to win first

It's a thought though, perhaps it works like 'cashback' at UK supermarkets - it would help to reduce the amount of cash that the casinos have to bank - perhaps even reducing their bank charges. Mind you, my feeling is that banks should be falling over themselves to accept the takings from casinos, but you can never tell in this strange Country!

I swapped my Bank HSBC to Nationwide last year, but I live in UK. It was all finalised within 7 days and direct debits etc. went through with no problems, but, I had to make an appointment and spent at least 1 hour at Nationwide with a very helpful guy. I took everything I could relating to all my Banking.

So, with you living in NC not sure how that would happen. Here is the Money supermarket.com site recommending 10 Banks and Nationwide does give on going service for those who change. I did get a call to ask me if I was satisfied. Also when talking to the person at Nationwide a comment was made when he asked who I wanted to change from and his reply to the HSBC was, that's good they always co=operate. So assuming that some Banks may not respond as quick as the claim in 7 days.


http://www.moneysupermarket.com/current ... tAod6SgACQ

I'm happy to ask on your behalf at any of the Banks just to get the info for you to see if you can do this from NC and how. Just PM me.