Kibkom North Cyprus Forum

Does anyone know if there is a bank in the UK - preferably London - that does NOT charge for withdrawing local currency from ATMs in North Cyprus please?

I ask as my current UK bank charges approximately £2.00 for each withdrawal from an ATM. My weekly paid UK State pension is not happy about this.

Nationwide don't charge for Sterling withdrawals in TRNC, just draw cash in £,s and change it to TL, really easy.

johnerebus wrote:Does anyone know if there is a bank in the UK - preferably London - that does NOT charge for withdrawing local currency from ATMs in North Cyprus please?

I ask as my current UK bank charges approximately £2.00 for each withdrawal from an ATM. My weekly paid UK State pension is not happy about this.

Turkish Bank have 6 branches in London and do a free payment switching service but would need to ask about actual ATM withdrawal. They have 20 branches in NC. Give them a ring to discuss.


http://www.turkishbank.co.uk/head-office


Quite a few people recommend Nationwide on previous threads on the same topic.

I've also seen Nationwide mentioned previously on here, but check precisely which account - I believe only one or two of their accounts do this - "Flex" or "Flexi" something?
Hopefully someone with the right acount will come on soon...

Edit - Just found this old thread - gives info about which NW account....

Flex account plex plus cost a subscription £10 with benefits both allow sterling withdrawals with no costs
Nationwide credit card and Halifax Clarity credit card give you the commercial/corporate exchange rte with no fees or loadings compares with the exchange rate in TRNC shops

We always took sterling and changed it at exchange offices. If you do it the other way you lose out financially

I think you will fined that all banks charge for the withdrawal of local currency. Some, like my German bank, do not charge for withdrawals in the account currency (Euros). The most cost effected method would appear to be to draw the cash from the ATM in GBP or Euros and the use an exchange to get TRY.

When we're there, I use my Halifax card - as long as I check which ATM I use, I can draw a max of £300 daily and only get charged £1.50 - half a percent.....
And then change the sterling at one of the exchange shops - much better than buying TL before I come over...
I think I can afford half a percent; especially when I compare prices and exchange rates with those in the UK.......

Thats what I do Jofra with my Halifax card but finding a machine that gives sterling and doesnt eat your card is becoming a bit of a chore.

I use Nationwide flexi account, have 3 cards and can draw £500 on each card, then go to the money exchange and change it ti TL

I draw from my Halifax at 500GBP a day and am charged just less than half percent. Its OK people saying they use Nationwide buts its not as easy as that because you have to have specific types of card and that isn't always possible. The thought of contacting and arranging for all the companies that put into and take out of my Halifax, is more than I could put up with. Lazy perhaps I know, but its the aggro factor!!

I agree with Paulc, no problem with basic N/Wide Flex A/c also Flex Plus (for that you pay a monthly fee) but no fee on basic Flex A/c. No probs withdrawing Sterling then changing it into TL, easiest way. There is a charge for direct TL out of ATMs. I have had no prob with ATMs at Starling and the garage before Escape for Sterling. Perhaps I've been lucky.

What is the latest exchange rate please?

https://www.google.co.uk/?gws_rd=ssl#q=1 GBP to TRY

4.29

As everyone else has said you need a UK bank that will allow you to draw Sterling, so that you can take advantage of the favourable exchange rates here, rather than being tied to your own bank's exchange rate.

Apart from the ones mentioned earlier, 'Cahoot' online banking (now owned by Santander) do not charge for Sterling withdrawals in TRNC, and HSBC & TEB branches in TRNC will dispense Sterling with no fee.

For those of us who do not go to the uk its impossible to open an account in the Uk. I had a Nationwide account before I came here and like an idiot closed it.

Deniz1 wrote:For those of us who do not go to the uk its impossible to open an account in the Uk. I had a Nationwide account before I came here and like an idiot closed it.

That's true!

(Not the bit about you being an idiot )

If you have a relative who is willing to open another bank account in the UK solely for your use, then that's a possibility...

When I was back in the UK in November I went into Nationwide and asked this very question.

I was told the only Current account debit card was a Flex Plus account. The fee for this was £10 per month, It gave you other things like Travel insurance and AA cover.

I said I knew someone that had an account that enabled them to draw Sterling, I was told that there was such a thing but they were no longer offering this to new customers.

Garanti ATMs also dispense sterling, no fee.

Norwich and Peterborough

Gold Classic and Gold Light current accounts have free debit card withdrawals abroad. BUT you need to check that the ATM of the bank dispensing the cash dos not charge.

The flex account I have with Nationwide is an old one, it has to have at least £700 paid in each month in one transaction but there is no charge for ATM withdrawals as long as it is sterling, also have free travel insurance Europe 12 months. I don't think this is available now you have to have flex plus and pay £10 month