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Cash into TRNC
Posted: Thu 26 Jan 2017 9:44 pm
by Eric7622
We are coming over in the next few weeks and plan to stay for the foreseeable future. We know we are going to have to transfer funds over by some fx company but how much cash can we carry over with us and if we fly into Larnaca does that make a difference carrying TL.
Would value any advice.
Eric
Re: Cash into TRNC
Posted: Thu 26 Jan 2017 10:28 pm
by Bowman
The law allows you to bring in 10,000.00 euros per person. This is the total regardless of the currency mix.
What is not clear is how much you can take out of ROC. This normally is also 10,000.00 euros, but during the banking crises the Central bank of Cyprus placed a limit on the cash that could be exported.
Re: Cash into TRNC
Posted: Thu 26 Jan 2017 11:12 pm
by Navek
No need to bring cash.
With a Nationwide visa card,
You can draw Sterling from some TRNC ATM's
Then change your Stetling £'s at a TRNC bank or exchange shop.
£1 = 4.84Tl today in TRNC bank.
You'll be lucky to get 4.6Tl to the £1 in UK.
Best to have a card each, just in case you lose one.
Internet banking would be useful too.
Re: Cash into TRNC
Posted: Thu 26 Jan 2017 11:55 pm
by jofra
We have been coming over twice a year since 2011; apart from the very first visit (when we brought just a small amount of TL in advance) we have brought a little amount of sterling and normally thereafter (in TRNC) withdrawn sterling from an ATM (with a Halifax card) and changed to TL. As a result, we have always then had some (200/300 TL) coming from and back to TRNC each visit to tide us over until we get to the ATM....
Re: Cash into TRNC
Posted: Fri 27 Jan 2017 7:56 am
by the butler
If you bring a large amount of cash with you, please remember to bring the withdrawal receipt from the bank with you. When I bought my property 10 years ago, I brought out the allowed 10.000 euros to furnish the property but was stopped at Stansted airport and was made to feel like a criminal. I was marched off to a private interview room and questioned for half an hour. Fortunately I had the receipt for the money drawn from my account and explained what it was for and they let me go. In these days of money laundering the security at airports is getting tighter.
Re: Cash into TRNC
Posted: Fri 27 Jan 2017 2:57 pm
by Poppy+1
Apply for a Nationwide Flexi Card,
Allows you to withdraw Sterling from Granti Bank ATM (maybe some others) of which there are a number around, at no charge to your UK Nationwide account.
Check out the Exchange shops as rates vary for your Sterling, having a card each allows £500 each a day.
If you have another UK bank for incoming payment, set inter banking where you can transfer to Nationwide again no charge.