Kibkom North Cyprus Forum

Hi all

If you hold TL time deposit accounts at CW and you want to convert back to sterling on the maturity date, is there any charge for this ? Thanking you

You should ask CreditWest. No one on the forum can give you a correct answer.

regards Mike

I have converted TL to sterling online on Creditwest, there is a very small percentage charge for this.

Creditwest do have quite a large 'spread' (profit margin!) between their 'buy' and 'sell' rates, so you are actually better off - if it's a large amount - to withdraw the TL and take it around to an exchange place; you can usually negotiate an even better rate than they are already offering if it's a large amount...

...and even if you can't 'beat 'em down' you will still get a better rate than Creditwest will give you.

What Keith says about the spread is very true but sometimes it is more convenient to change online.

We have found the Limassol Bank in Esentepe gives a reliably better rate than any other exchange mechanism... So I'm guessing all branches will do the same...

Could someone please advise the name and location of an exchange bureau that you are happy with?

West of Girne would be best, but can also travel east of Girne.

Thank you!

I sent you a PM

I did this. I went to the guy at Alsancak near the D.V.D shop, told him the approx amount, he gave me a ball park subject to time of day fluctuations. So as an example I compared the figure with the bank . There was enough difference to warrant me using the change shop. It was fairly large amount, more than he carried so we arranged it for next day.

By doing this and comparing prices the next day with the bank I was 462,00 pound better off, so well worth the little bit of messing around.

Thank you all very informative!