Advice Please

[PoshinDevon]

In our quest to spend more time in North Cyprus we are investigating the most cost effective method of being able to access my UK pension which is currently paid into a UK bank without being charged.

So advice required is.....is there anyway we can use a UK bank cashpoint card to draw out GB pounds from a bank here in the TRNC . We would then look to exchange the GB pounds at wherever offered the most favourable rate. Obvioisly we do not want to be charged by either the UK bank or bank here in the TRNC for withdrawing the money. Suggestions of UK bank which offers this facility and banks here in the TRNC where we can withdraw GB pounds.

No idea if it is possible to avoid paying any charges at all or maybe there is a better way?

If anyone has some good sensible advice please PM or EMAIL with suggestions.

Thanks to all.

[wanderer]

Nationwide flex account is what I use when I'm over pension paid into my normal uk Bank transfer the money I require to Nationwide
Withdraw sterling from HSBC bank machine @ the bank .Cash the sterling at the money exchange
Most UK bank charge for sending money abroad this way there is no charge and the money exchange people in the trnc are usually better rates than banks in TRNC
Also since HSBC bank is shutting the advantage of having a uK HSBC and transfering that way has gone
TEB bank issue sterling as well round by where Mr Pound used to be
Hope it help
PS have a Halifax clarity card(not any other Halifax card) they give commercial exchange rate settle by dd each month in full reduces the need for cash and if you spend £300 per month Halifax Clarity card gives you £5 (£60 per year)

[come_on_aylin]

You can also withdraw sterling from Garanti ATM opposite monexchange, just to side of Lemar, Karakum, car park. They do £20 notes which is sometimes more convenient than £50 notes that HSBC tend to dole out

[PoshinDevon]

Thanks for help and advice and also pm received .

Looks like Nationwide flex account

[wanderer]

Posh dont scrap your current bankers just set up a DD for money to go over each month to fit in with their requirements

GOOD ADVICE FOR ALL
Always have at least two Bank accounts with different providers look at RBS / Nat West crashed again people cant get money
Always have at least two credit cards different providers .Also if your partner has an account get them to have separate accounts

[PoshinDevon]

Wanderer....exactly my plan....have been with current bank for 38 years and even tho they are one of the so called big 4, they have been ok for us, so will not be deserting them. Will be doing a transfer each month to very likely a Nationwide Flex Account as suggested.

[Deniz1]

I bank with Halifax in the uk they charge me £1.50 to withdraw sterling from a machine here.

[JoandJelly]

Is that regardless of the amount Deniz1 or is it a percentage?

[Deniz1]

Max I can draw per day is £300 if I withdraw less its still £1.50. If I take tl it gets VERY expensive. But I want to keep the account open you never know if I need to go back which I hope never happens!

[ozonkoyboy]

Nationwide Flex account
Up to £500 a day withdrawal in sterling NO CHRGE

[Deniz1]

Great if you are in the uk and can open a new account with Nationwide not so great if you are here!

[PoshinDevon]

You can apply to open an account on line. Have not looked into it yet but willbe doing so soon.

[wanderer]

Under banking rules know your customer you need proof of uk residence utility bills in your name as well as voters role

Bank of Cyprus UK will take transfers from Barclays who are closing their Turkey & Cyprus opperations

[schnib]

Yes,Nationwide Flexi account allows you to withdraw £ from Garanti A T M Loook also at Tationwide Select credit card as you can purchase goods with it charged in T.L and are not charged commision