Banking

All to do with money - Banks, Insurance, Savings, Exchange Rates...

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Poppy+1
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Banking

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Post by Poppy+1 »

Do the banks in TRNC have the safety net in the eventuality of bank collapsing, UK banks have a Personal Savings Protection cover up to £75,000.

Has anyone got a bank preference in TRNC i.e Credit West, Turkish Bank, also one the pays in sterling from ATM, I know Garanti & HSBC have this facility.

Any information would be of help

Thank you
Poppy+1

ttoli
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Re: Banking

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Post by ttoli »

Iktisat's accounts are covered to £20k per account so just open multiple accounts , to cover yourself, why payment in Sterling though ?, 90% of my out goings are in TL
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Deniz1
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Re: Banking

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Post by Deniz1 »

TEB bank in town have a sterling option at their ATM. My uk bank charge a hefty fee if I withdraw lira.

Bowman
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Re: Banking

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Post by Bowman »

Each account is covered to 20000 euros (not GBP) by the Central Bank of the TRNC. Information from the Central Banks web site.

regards Mike Turner

lee666
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Re: Banking

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Post by lee666 »

Capitalbank is also €20000 and once again you just open as many accounts as you want up to that amount.

Happy hunting.
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LooseBoots
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Re: Banking

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Post by LooseBoots »

Someone mentioned the ATM. I know we used our UK card to withdraw Sterling from HSBC. Then one day we decided to transfer a larger amount by transfer and Girne branch charged us for receiving money, even though it was branch to branch. Worth bearing in mind.
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Poppy+1
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Re: Banking

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Post by Poppy+1 »

Many thanks for your replies.

It's good to know what bit of money we have is covered, at the moment no need for multiple accounts.

Where is Istisbank and Teb please.

Poppy+1
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Deniz1
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Re: Banking

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Post by Deniz1 »

TEB is in the town center on the right hand side before the roundabout that leads to the wednesday market.

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Keithcaley
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Re: Banking

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Post by Keithcaley »

Worth mentioning that HSBC machines will also dispense Sterling without a surcharge - but you do need to check that your UK bank won't charge you either!

Bowman
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Re: Banking

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Post by Bowman »

Keith,

My English bank (HSBC PLC) charges me for taking cash (GBP) out off the HSBC ATM

Taking Euros out using my German visa is free.

regards Mike Turner

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Keithcaley
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Re: Banking

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Post by Keithcaley »

Bowman wrote:Keith,

My English bank (HSBC PLC) charges me for taking cash (GBP) out off the HSBC ATM

Taking Euros out using my German visa is free.

regards Mike Turner
I take it that that is a Visa Debit (not Credit) card?

My UK Visa Debit card doesn't charge for GBP withdrawals.

p.s. Hi Mike - I just realised who you are!!!

woodspeckie
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Re: Banking

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Post by woodspeckie »

My Nationwide flex account doesn't charge for GBP withdrawals but does if I withdraw TL.

alimem
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Re: Banking

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Post by alimem »

Koop bank in Girne is good, only 3 days for money to go in account from U.K...

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