Banking

hankme


Joined: 12/01/2009
Posts: 8

Message Posted:
12/01/2009 07:39

should i invest? thinking of depositing 200;000gbp into fix deposit at credit west but trnc only covers 20,000 euro in each account. does this mean i need to open 20 accounts to cover my money? also as its a new bank i maybe better going to isle of man offshore banks? not sure which way to go, any help please

deecyprus4


Joined: 27/07/2008
Posts: 3452

Message Posted:
12/01/2009 07:55

the rates alot better here on tl

magicart


Joined: 05/10/2008
Posts: 985

Message Posted:
12/01/2009 08:15

Suggest you visit the English speaking depatment (upstairs)at the Ikisatbank in Girne.



I have used them for the past 15 months/they are first class and I'm sure they will help you!!

CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
12/01/2009 09:16

hankme have you been to our expat branches in Karaoğlanoğlu and Çatalköy to meet our Manager Figen who can answer all you questions about investing in our bank? I am also available to come along and join your meeting to advise and provide information in general about the banking sector in the TRNC. Alternatively feel free to email me on pazarlama@creditwestbank.com with your questions or to arrange a date and time to meet up.

newscoop


Joined: 23/12/2007
Posts: 2197

Message Posted:
12/01/2009 10:17

creditwest is not a new bank. It was formerly altinbas and has been around since 1994/5.

hankme


Joined: 12/01/2009
Posts: 8

Message Posted:
12/01/2009 10:26

thanks for your help all , im unable to visit your country at this time. but no one has answerd my point about would i have to open 20 accounts to cover the deposit

dozza67


Joined: 11/07/2008
Posts: 607

Message Posted:
12/01/2009 11:09

We changed from Iktisat to Creditwest. Iktisat were great until they got our money then they couldn't care less. Creditwest are not a new bank, they have been going for years and as far as we are concerned the most ex-pat friendly bank on the Island. All staff speak English.

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
12/01/2009 11:13

you'd need 10 - ie 20,000 euro's each account...



Creditwest are the ones to go with...



Nick

hankme


Joined: 12/01/2009
Posts: 8

Message Posted:
12/01/2009 12:29

thanks again all, its 200,000 english nick would i not need 20 accounts, and that would be hard to manage

CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
12/01/2009 13:08

hankme thats not a problem at all we can sort it out for you as we do for many of our customers but I would like to remind you that during the last crisis although the cover was 7500 pounds the Government paid the lot, it may have been delayed at the begining but when the last bank closed in 2003 no one even noticed as the Insurance Fund stepped and paid all the deposits back to investors.

hankme


Joined: 12/01/2009
Posts: 8

Message Posted:
12/01/2009 14:02

well thanks rep ill think things over, if my deposit would be covered then id be happy to go with your bank , they quote 6.5 for gbp . but also say deals are on the cards. what would they offer on 200,000gbp and what would the net amount be after 8% tax? that would be on a 12mth fix

tinker


Joined: 14/08/2008
Posts: 156

Message Posted:
12/01/2009 18:08

Wasn't allowed to open an account in England with an eight grand cheque... Because we couldn't produce utility bills ... TRNC our place of residence...

£200,000 bloody hell !!!

maybemike


Joined: 12/01/2009
Posts: 188

Message Posted:
12/01/2009 18:17

put it in turkish lira account get 20%

Tbl62


Joined: 03/12/2008
Posts: 83

Message Posted:
12/01/2009 18:22

which bank offers 20%? or will they all because of amount to be invested?

Tbl62

deecyprus4


Joined: 27/07/2008
Posts: 3452

Message Posted:
12/01/2009 18:45

most will if you push, on a lot less if you put it in for 12 months

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
12/01/2009 19:47

Dear Hankeme....I invest with HSBC....control everything on line.

I would suggest spreading your investment...just in case!



for 50k you can become a PREMIER customer of the HSBC, earn 18% ( put this into a 31 day account, your interest will be paid after 31 days, your account can be set up to automaticcaly reinvest so both your interest and investment earn 18% interest!



As a Premier customer you can transfer your money to other HSBC accounts worldwide in mnutes with no bank charges!

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
12/01/2009 20:04

mess 16 - i was a "premier" customer - still have to wait ages in the bank though...



Moved to Creditwest, no fuss, virtually no ques and good old fashioned service.



Smashing !





Nick

keithr


Joined: 20/08/2008
Posts: 720

Message Posted:
12/01/2009 20:22

msg 16.



Not true now,rates dropped to 17.45%.

maybemike


Joined: 12/01/2009
Posts: 188

Message Posted:
12/01/2009 20:33

they will give a bit more, if you threaten to transfer it somewhere else

hankme


Joined: 12/01/2009
Posts: 8

Message Posted:
13/01/2009 04:33

sure the lira rates are great but its not stable, lost 25% against the dollor last year, so for the yank to get his money back he would have to have 25% interest. to much of a risk for me if i can get a good rate on the pound id be happy, piece of mind knowing what youd get after a year. the lira rates are good if you are going to leave it in lira which i would be unable to do for a few years yet.

deecyprus4


Joined: 27/07/2008
Posts: 3452

Message Posted:
13/01/2009 07:53

well what has the pound lost lol 25%

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
13/01/2009 10:03

mess 20 - Hank we aren't asking you old boy !



No body knows what will happen - you just make your own decission of what to do with your dosh and then it's no body's fault when it all goes wrong...





Nick

CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
14/01/2009 10:17

hankme apologies for not having responded earlier but have been a bit busy. I prefer not to quote rates over the forum but would be glad to give you more information if you would kindly email me on pazarlama@creditwestbank.com. You should act fast as the rates seem like they are on the slide and you may not get the rates being currently displayed by banks in the TRNC over the coming weeks.

joandjelly


Joined: 24/02/2008
Posts: 2953

Message Posted:
14/01/2009 11:26

Continental Bank pay 5.5% on a monthly Sterling account.

rwilson


Joined: 14/04/2008
Posts: 87

Message Posted:
14/01/2009 12:06

Hi joandjelly



in another message I believe someone said that Continental Bank had loaned money to builder knowing the properties on it were already sold. Continental Bank would not comment, but CreditWest did saying they had not done such a thing.



If true, Continential Bank, like Coop Bank and others have a nasty bundle of of toxic debt for depositors to worry about.



Personally I'd go with a bank with clean hands