Kibkom North Cyprus Forum

Have you received a letter advising you that your Barclays Accounts will be closed on or before 1th September. No choice, it's just going to happen and all you direct debits, cards etc will be blocked on this date. My guess is that they need to find other ways to pay the ridiculous bonus payments to senior staff.

Anyway, we are lucky enough to have accounts with Garanti Bank here so contacted them. we can have all our pensions paid in to a sterling account here and draw down via a debit card as required. There are no costs involved in doing this and my feeling is that as Garanti is a long established Turkish Bank we could not have to get embroiled in trying to get involved with local banks and the possible costs/risks there.

Just food for thought folks, if you have had the same letter.

Just as a side issue to this thread, although somewhat connected, the Compensation Service of £85,000 is now being reduced to £75,000.


http://www.bitterwallet.com/fscs-protec ... tive/86392



Reading a forum on the South side, the closing of accounts with Barclays has caused some problems where it has been difficult for people to change banks in the short time given. So if Guaranti Bank are willing to take ex Barclays account holders it will save a lot of upset.

In The south Bank of Cyprus has said that Bank of Cyprus England will welcome Barclays customers
http://cyprus-mail.com/2015/07/24/bank- ... s-clients/

wanderer wrote:In The south Bank of Cyprus has said that Bank of Cyprus England will welcome Barclays customers
http://cyprus-mail.com/2015/07/24/bank- ... s-clients/

Snigger.... I think I'd rather flush it down the loo!

I dont disagree but if you try to open an account in the uk without proof of residence you will fail under the money laundering rules
BoC are saying that BoC uk will accept transfers uk banking protection
I am not a fan but at least your bills will be paid and pension accepted

Have been grappling with the same problem for 2 days now searching the internet for a UK based bank that will accept a non dom, no luck at all. 42 frigging years on the same bank and they pull the plug just like that with no recommendation of who or where to go next.
Am I right in saying that although the UK has a recipricol agreement with Turkey reference pension payments to a TRNC bank you actually end up paying a higher tax rate?

I now understand that the closure of accounts also includes Turkey. In this case it does not matter how much you have in the account ie over 100 thousand.All Barclays accounts will terminate.now what about those in North Cyprus who are lucky enough to have over 100 thousand. We all use Mersin 10 Turkey as our postal address. We are still part of Cyprus but are still,being told that accounts will be closed as we are shown as Turkey on the computer. Barclays cannot answer this and are seeking guidance.

Friends of our received their letter from Barclays, it was sent to PO box * Lapta, Mersin 10 Turkey, so it seems we live in Cyprus when it suits and Turkey when it doesn't, double standards I think.

elizabeth wrote:...it seems we live in Cyprus when it suits and Turkey when it doesn't, double standards I think.

I don't understand your comment, - what address did your friends give to the bank for mailing purposes?

Don't the bank normally use that (correct) mail address as instructed?

Mersin 10 Turkey, we are always advised not to include Cyprus in our postal address.

elizabeth wrote:Mersin 10 Turkey, we are always advised not to include Cyprus in our postal address.

Yes elizabeth, I do understand that the TRNC Authorities advise us to ask everyone to address mail to "Mersin 10 Turkey", and not to include Cyprus in our postal address.

I also suppose that your friend would have instructed the Bank to use that address, as advised by the TRNC Authorities.

I would hope that the bank would follow your friend's instructions, and address her mail to "Mersin 10 Turkey", and not include Cyprus in her postal address.

It would be very wrong of them to not follow her instructions.

What I did not understand was your comment: -

...it seems we live in Cyprus when it suits and Turkey when it doesn't, double standards I think.

I can't understand who you are referring to as having 'double standards'...

The Bank, perhaps, for following your friend's instructions regarding the addressing of mail?

Your friend, perhaps, for giving them instructions to address the mail to "Mersin 10 Turkey", and not to include Cyprus in her postal address?

The TRNC Authorities, perhaps, for giving all of us that advice in the first place?

I really am trying to understand what you meant, please do explain it to me.

It has got nothing to do with your postal address. Barclays are trimming their operations down tom 70 countries and Turkey is not one of them. That is why we have arranged to have all our pensions paid in to Garanti Bank here in Lefkosa, to a Sterling Account.
No tax liability and no costs of transfer unless you pension payer in UK charges. Simples as they say.
If you live in the South then reading all this it seems that BOC are offering the same deal without proof of residency.

Booked to see creditwest on Tuesday, Figen tells me there shouldn't be a problem getting our pension paid over here so we will see

Just spoke to both UK Pensions & Military Pensions and both gave the same advice e.g. they can send either pension over here but only in the local currency of TL not Sterling, the rate being decided by Citi Bank on the day of transaction who purchase in bulk to get a preferential ex rate (the mil one would cost £2.50 per transaction at their end but not the state pension), we are in a reciprocal country so you get the annual increases to both as normal. I can do both mandates via email. Going out to get merry now, thanks for bugger all Barclays!

Have applied to Nationwide International for an account so I can keep money in UK.....waiting to see if I am accepted....minimum deposit...........£1!

I've been exploring UK-based banks that allow you to withdraw £ from overseas ATMs with no charge.

Norwich & Peterborough Bldg Society's Gold Classic Current Account will do that. You have to either (1) keep an average £5000 balance or (2) transfer £500 into the account each month. You can bank online, and N&P have been very efficient in my dealings with them....unlike the large global banks.

Alternative is Nationwide, but they have a mandatory £10 monthly charge.

blueparrot wrote:I've been exploring UK-based banks that allow you to withdraw £ from overseas ATMs with no charge.
Alternative is Nationwide, but they have a mandatory £10 monthly charge.

If they do we've never had to pay it.... this must be for an account type we don't have... i.e. we have Flex Accounts they cost nothing and no fees are charged for ATM withdrawals in sterling when abroad....

Fortunately I do not bank with Barclays, but am getting confused by this thread, and also a little worried about two UK banks now closing accounts in Turkey.

Can anyone tell me please whether it is Turkey or the TRNC where banks are closing accounts?

Also how much notice was actually given and how - ie was it by post in which case it could take a month to get here (if ever) and if (as I understood from the above thread) there was only a month's notice given it could leave people in really tight spot accessing their income, particularly if they were ill, or on holiday even, at the time.

Has anyone thought of contacting something like the Financial Services Agency and checking the banks are acting legally in giving such short notice, or considered a claim to the Banking Ombudsman for costs and losses incurred?

Groucho wrote:

blueparrot wrote:I've been exploring UK-based banks that allow you to withdraw £ from overseas ATMs with no charge.
Alternative is Nationwide, but they have a mandatory £10 monthly charge.

If they do we've never had to pay it.... this must be for an account type we don't have... i.e. we have Flex Accounts they cost nothing and no fees are charged for ATM withdrawals in sterling when abroad....

It is a new account called Flexplus with the £10 monthly charge.

The plus seems to be on their side! What are the advantages over the normal Flex account? Are there any? Why would anyone want an account that charges £120 a year?

Just looked it up - it seems quite a lot of extras that add up to value more than the £120pa charge - so for those doing a lot of travelling to and fro it's probably quite useful

There is a small paragraph in today's Cyprus Today reporting that a lady in quote Cyprus unquote has started an on line petition to the UK Govt. protesting about the closure of Barclays accounts and the impossibiliy of opening a UK account without a UK address. Personally I dont think the petition is well worded , and so far there are only 47 signatures!

Personally I am very surprised , considering the number of UK expats worldwide there must be, that there are not more protests about the Governmnets assumption that UK citizens living abroad must be money launderers, and the sheer inanity that proof of UK residence by way of a utilities bill is evidence of innocence! What happens when one returns to the UK, say, for health reasons? How do you pay a utilities bill without a bank account?

Ragged Robin wrote:There is a small paragraph in today's Cyprus Today reporting that a lady in quote Cyprus unquote has started an on line petition to the UK Govt. protesting about the closure of Barclays accounts and the impossibiliy of opening a UK account without a UK address. Personally I dont think the petition is well worded , and so far there are only 47 signatures!

Personally I am very surprised , considering the number of UK expats worldwide there must be, that there are not more protests about the Governmnets assumption that UK citizens living abroad must be money launderers, and the sheer inanity that proof of UK residence by way of a utilities bill is evidence of innocence! What happens when one returns to the UK, say, for health reasons? How do you pay a utilities bill without a bank account?

You go to a Post Office

How do you have a regular income paid into a UK account that is needed to offset regular outgoings? We have been well and truly shafted!

Dalortokat, I thought I would take your advice so I asked at Esentepe Post Office if I could pay my UK utility bills there because I live in the TRNC, not in the UK, as I suspect most others posters on this forum with a similar concern do too. Can you guess his answer?

Tomsteel, I am basing my reply on Ragged Robins scenario of returning to the UK for health reasons and I am assuming you have closed your TRNC Bank Account and left for good. (That is the way I have read his last paragraph and why I highlighted the part I am replying to.) You have arrived in UK and need to open a bank account. You take out the cash and then go to a post office when you have received your first utility bill after 3 months.

Assuming you cannot function as soon as you arrive in UK, in my opinion, repeat my opinion, is not the case.

I am not talking about still being in TRNC when Barclays have closed your account and you cannot get another in UK and the Electric Bill comes in, then yes I probably do know the answer, up a gumtree maybe!




Maybe RR can explain what he exactly means.

Sorry, it's my warped sense of humour, I was joshing you.

Thanks for that Tomsteel, sat here for ages this afternoon thinking of how to reply without being rude. because I was being a bit flippant when I said go to a Post Office. Oh well best move on before it gets more twisted and get myself into trouble

Dalartokat, I truly am sorry my attempt at humour caused you angst. I appreciate your many previous posts, on a number of topics, were attempts to help on this forum, even with your self-declared 'flippancy' on this occasion. I carried it on too far - my repeated regrets, I shall try to be more circumspect in future.

carrierbag wrote:How do you have a regular income paid into a UK account that is needed to offset regular outgoings? We have been well and truly shafted!

Sorry I went off topic , and confused the issue (and myself) with the problems (of a UK taxpaying, NT contributions paid, citizen with UK based pension) of opening a UK High Street Account if you have returned to become resident but not been long enough to get a utilities bill! And of the sheer greed and stupidity of the Banks in their response to the Governments anti money laundering legislation, and others. It would take too long (and perhaps be unwise) to go into the ramifications here.

But I think Carrier Bag (although not very elegantly) has put it in a nutshell! And with all due respect I would like Delartokat to explain just how one it to get cash to pay a bill at a Post Office if one cant have a Bank Account to put a (UK based) pension in, let alone withdraw from? Carry three months worth of utilities bill, let alone money for food, transport, medicine etc., around two airports and the UK? I think not, The whole point of Banks is to avoid that risk.

There's always Wonga - nothing wrong with these interest rates, is there?

Ragged Robin, I thought I did explain this. If the scenario was, that you decided to come back to the UK, I can only assume that you would bring your money back with you or leave it in a Bank in NC and withdraw x amount to tied you over.... until..........then you arrive in UK.....you can open a basic bank account in UK to have your Pension paid into or Benefits if one was in the UK or go to the Post Office and open a Post Office account. There are ways and means to do this, plenty of people have left NC and elsewhere and arrived either pennyless or with funds and have started all over again. It maybe annoying, a minefield, frustrating, but, it can be done the same as your utilities can be paid with cash that you have withdrawn from your basic bank account.

If you came back pennyless, you would still receive your Pension every week into a basic Bank account which gives you the bare minimum to get started, i.e. an account with a bank card and no overdraft. You need a national insurance number, passport etc. You can also pay utilities, i.e. gas & electric with a pay as you go card.

Just as a by and by, when the coalition government was first elected it changed the rules for payment for people in the UK who were on benefits, those say, on Job Seekers Allowance etc. The Government wanted everyone to have their payments, including Pensions, paid into a bank. The only way to do this was for banks to agree to provide basic bank accounts. The exceptions were, those who were homeless or maybe could not manage their financial affairs and those exceptions were allowed to carry on with a Giro cheque to withdraw cash. People who wanted to carry on with Pensions paid into a Post Office and withdraw cash have been able to do this. In an ideal world, UK Government would like everyone to have their monies paid into a bank account.

Please be positive RR and if you would like me to find out any information for you I am quite happy to do that for you.

It can be done.

I contacted Bank of Cyprus UK and here is their response. I hope this helps someone.

Thank you for your email.
Our account opening is not limited to ex-pats living in the south alone, provided that the application criteria is met, we will be able to open an account for you.

Please visit this section on our website specifically set up for these circumstances:

http://www.bankofcyprus.co.uk/internati ... -barclays/

You can open an International Online Personal Current Account via our website [link provided below]

http://www.bankofcyprus.co.uk/internati ... t-account/

Please click on the ‘Apply Online’ button in order to load the electronic application form.

Please take a moment to read the below requirements in order to open an international account:

http://www.bankofcyprus.co.uk/internati ... l-account/

Regards,


Onas Boyejo
Enquiries Supervisor
Bank of Cyprus UK