Bank Transfers within the TRNC

Bowman · Post by **Bowman** » Fri 10 Feb 2017 9:10 am

As requested by Ragged Robin I have started a new topic on Bank transfers.

My understanding of the rules set by the Central Bank of the TRNC is that you are limited to a minimum of 7,000.00 TRY (or the equivalent).

That is to say from one bank to another.

There is no limit on inter-branch transfers. This is why some companies have accounts with a number of bank, so there customers can pay by inter-branch transfer.

There would appear to be no limit on the amounts sent into the TRNC.

regards Mike Turner

frontalman · Post by **frontalman** » Fri 10 Feb 2017 9:26 am

This must be new then because we transferred a much larger sum when we closed our accounts with HSBC a couple of years ago.

IktisatMCB · Post by **IktisatMCB** » Fri 10 Feb 2017 1:07 pm

Bank Transfers used to have to be a minimum of 7,000 TL or currency equivalent however this is now not the case for the majority of banks since the upgrade of the banking system.
With Iktisatbank there is NOT a minimum amount required to enable an inter bank transfer within the TRNC.
Some other banks may have different stipulations so it is always advisable to check with your own bank.
Kind regards
Natalie

Bowman · Post by **Bowman** » Fri 10 Feb 2017 2:58 pm

Thanks Natalie for the update.

Should have spoken to you before posting.

Frontalman, please read my posting. I said minimum not maximum.

Regards Mike Turner

snd1966 · Post by **snd1966** » Fri 10 Feb 2017 3:02 pm

So now this has changed it maybe a good time to ask guaranti bank what their policy is as I know Amy villas could only issue a chequer or transfer internally.
And hopefully in the future all businesses will be able to do bank transfers to their customers banks, at but generally with identification most businesses will pass a cheque over to their customer's nominated person. I would of thought if it did not reach their account as long as the business has proof that the cheque was collected they have done their job.

Ragged Robin · Post by **Ragged Robin** » Sun 12 Feb 2017 5:05 pm

thank you Bowman for starting the topic and all who have responded.

I hope those who have posted on the latest Mutlimax thread will read this, particularly snd's llast para and the penutime para of Bowmans first post.

Is anyone able to say how much an interbank transfer costs?