taking cash over to north cyprus

ginty


Joined: 11/03/2009
Posts: 228

Message Posted:
20/06/2009 19:52

Is there a limit to the amount of cash you can take to north cyprus. I was going to bring over lira . Am I right in thinking the exchange rate is better in the UK than in cyprus.

catalkoykid


Joined: 15/02/2009
Posts: 1190

Message Posted:
20/06/2009 20:47

no much better in trnc exchange stirling here

ianwfs


Joined: 08/01/2008
Posts: 563

Message Posted:
20/06/2009 20:47

Don't change sterling in the UK. You'll get a far better rate in North Cyprus.



Ian

ginty


Joined: 11/03/2009
Posts: 228

Message Posted:
20/06/2009 21:13

can I bring over as much as I want . I have eldectric water and furniture to buy

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
20/06/2009 21:18

You can bring over as much as you like - as long as you don't get caught

Teresa


Joined: 21/11/2007
Posts: 1018

Message Posted:
20/06/2009 21:23

I think the legal limit of cash you are allowed to bring out of UK is about £6500 anything above that you are supposed to declare to customs at the airport before check in. Dont think anyone bothers either end but as has been said before dont change money in UK you will get far mkore for your money this end and most places here are happy to take sterling anyway.

TheSaints



Joined: 28/01/2009
Posts: 1369

Message Posted:
20/06/2009 21:25

I carried 20K with me in May no problems at all

DutchCrusader



Joined: 19/05/2008
Posts: 11281

Message Posted:
20/06/2009 21:27

In the EU: when you take out more than 10.000 Euros cash (or the equivalent in Sterling), you have to declare the whole sum (in Holland the tax office, in the UK: ?). And there is a limit what you can export in cash from TRNC.



P.S. No joke: I once had more than 10.000 Euros in my bag. At Schiphol Airport, waiting to board a Turkish Airlines plane, policemen in civilian clothes entered with a dog. The bloody dog sat down next to me and only looked at his boss. Yep, I had to and could explain where the money came from... So, mind the steps and the money-sniffer-dogs...

catalkoykid


Joined: 15/02/2009
Posts: 1190

Message Posted:
20/06/2009 21:39

20k in fiftys you can fit in your pants

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
20/06/2009 21:42

Gary Mongers missus can get 100k in fiftys down her knickers and it wouldn't even notice. )

nurseawful



Joined: 06/02/2009
Posts: 5934

Message Posted:
20/06/2009 21:43

A friend 2 weeks ago nearly missed their flight as customs at Heathrow stopped them and they had £10,000 on them it took a lot of fast talking and phone calls to get them released as legally they were told that it is only £5000 you are allowed to carry.

When we moved here 5 years ago I bought the furniture with UK cheques no problem also paid for the car this way. Also you can withdraw £350 per day from the ATM's and HSBC will give you this in sterling.

lovingcyprus


Joined: 02/03/2007
Posts: 1272

Message Posted:
20/06/2009 21:50

Dutchcrusader is absolutely correct, however, you can take more if you declare it but be prepared to let customs know where the money has come from.



If you take more than 10,000 euros and you are stopped it is quite possible that you will have it confiscated, be warned

TheSaints



Joined: 28/01/2009
Posts: 1369

Message Posted:
20/06/2009 22:46

I had the withdrawal receipt with me to prove that the money came from my bank account just incase but was not stopped or asked.

Checkmate


Joined: 31/08/2008
Posts: 140

Message Posted:
20/06/2009 22:49

When you use the "hole in the wall" at HSBC and take out Sterling do they charge commission or a said fee that service?

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
20/06/2009 22:54

Hi Nurseawful,



Same thing happened to me 2 years ago, made to feel like a criminal because I had £8.000 in cash on me.

Fortunately I had receipts from Barclays bank to say it had come out of our joint account. So beware, it depends who is on duty at the time.





The butlers wife

ginty


Joined: 11/03/2009
Posts: 228

Message Posted:
20/06/2009 22:57

thanks everybody, I will be careful how much I take. When you say that the interest rate is better in cyporus do you mean the banks or the shops?. Does anyone know what the exchange rate is so I can compare?

paddywack


Joined: 04/05/2009
Posts: 959

Message Posted:
20/06/2009 23:04

Log on to XE Univesal currency converter.

bachelibelly


Joined: 04/09/2008
Posts: 275

Message Posted:
20/06/2009 23:41

Ginty ,never mind the money ,bring your own water and electric with you !!!!!

nurseawful



Joined: 06/02/2009
Posts: 5934

Message Posted:
21/06/2009 08:19

Ginty the rate at 0800hrs today is 2.56

ginty


Joined: 11/03/2009
Posts: 228

Message Posted:
21/06/2009 23:40

hiu nurseawful



Thats a brilliant rate, better than the UK. Where is this rate available? at the banks or a specially money exchange. Also do you know if it is the same rate on shopping. When I was over there and bought anything with sterling I did not have a clue what exchange I was getting.

minertor



Joined: 14/02/2009
Posts: 1238

Message Posted:
22/06/2009 01:16

Usually better rate at exchanges. Best one I know is opposite Dome Hotel in Girne.

As to sterling, I asked at Lloydstsb last year if they needed notice for me to withdraw 20k in cash to bring over. They never mentioned any restrictions.

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
22/06/2009 09:57

If the rate is better outside of banks, is it better to change money at an exchange and then open a bank account with it? or is there any flexability with the banks rate for larger amounts?

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
22/06/2009 11:10

The amount you can take out depends on where you are flying in to....ie Flying in to Larnaca ( within the EU ) will be greater than the amount you can take if you are flying into Ercan ( outside the EU )



perhaps check with customs website?

lovingcyprus


Joined: 02/03/2007
Posts: 1272

Message Posted:
22/06/2009 12:35

But if you are flying into Larnace and then going to TRNC you can still only take 10000 Euros unless you complete form C9011, see following link:-



http://search2.hmrc.gov.uk/kbroker/hmrc/forms/viewform.jsp?formId=216

mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
22/06/2009 12:51

Dear Loving Cyprus



Your post raises an interesting issue



You AREn't leaving the EU when you cross the green line - you ARE leaving the area where the "aquis" is effective.



So may be you CAN carry the money over.. May be good to check what the Green line regs say - and then you have to worry about what the "TRNC" say....

flightholiday


Joined: 19/07/2007
Posts: 3217

Message Posted:
22/06/2009 12:58

10,000.00 Euro has been the "cash per person" limit for quite some time it is all due to the possibility of money laundering. If you are stopped you might miss your flight and the cost of last minute bookings of the next flight can far outweigh the cost of proper money transfers



You can always transfer GBP from a bank account in the UK to one in North Cyprus (HSBC to HSBC is cheap).



Often it can be better to change money from hard currency in North Cyprus but you want to watch your daily rates.

Arek Naw


Joined: 29/08/2008
Posts: 75

Message Posted:
22/06/2009 13:03

HSBC Premier account holders can withdraw £1000 per day from the HSBC ATM free of bank charges

basheer



Joined: 22/12/2008
Posts: 949

Message Posted:
22/06/2009 13:17

couple of days ago At m&s i got 2.78 per pound are you saying hold on to the rest I have for girne

I changed £1000 and was about to buy another £1000 this week

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
22/06/2009 14:29

basheer, Did you really get 2.78 tyl to a £. Thats very high but very good.

mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
22/06/2009 14:37

Don't tell a certain poster who bought at approx 2.40 and may have said the yTL would get stronger :(

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
22/06/2009 19:35

Think he meant 2.58.

jax47


Joined: 03/10/2008
Posts: 102

Message Posted:
22/06/2009 19:52

M & S rate today is 2.40, and has been that (here in Newcastle) for the last week.

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
22/06/2009 20:00

basheer......Please explain.

ROBnJO


Joined: 30/06/2008
Posts: 1289

Message Posted:
22/06/2009 20:04

Maybe confusing the 'Buy' & 'Sell' rates?



M&S are usually rubbish. ;-(

lovingcyprus


Joined: 02/03/2007
Posts: 1272

Message Posted:
22/06/2009 20:25

Clearly he was confusing the 'buy' and 'sell' rates

lovingcyprus


Joined: 02/03/2007
Posts: 1272

Message Posted:
22/06/2009 20:27

Message 25



You raise a good point, I don't know what the answer is.

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
22/06/2009 20:30

Even so, The sell rate would never have been that high, did say he got 2.78.

lovingcyprus


Joined: 02/03/2007
Posts: 1272

Message Posted:
22/06/2009 22:19

eager



The sell rate in the UK at the Post Office today is 2.79

shippo


Joined: 04/05/2009
Posts: 47

Message Posted:
22/06/2009 22:44

If you take more than £5000 in cash out of the UK and get caught it will be taken off you under the proceeds of crime act. It is for you to then show that you have obtained the money by legitimate means, (taxes paid etc) before it will be returned to you and this wont happen straight away. it usually takes up to 3 months for a hearing and the money will be retained until at theast this time. I can also tell you that they were looking to lower the limit to £3000.00 but im not sure if this has happened yet.



If you are looking at spending more than this i would advise you to bank transfer it, its alot easier and safer.

ianwfs


Joined: 08/01/2008
Posts: 563

Message Posted:
23/06/2009 00:27

2.79. Think you're confused. The highest it's been all day is 2.58. I suspect you've looked at the "Banker's Buying Rate" ie you give them 2.78TL, they give you £1



Ian

lovingcyprus


Joined: 02/03/2007
Posts: 1272

Message Posted:
23/06/2009 00:44

Message 38 should have said the Post Office would give you £1 for 2.79TL

basheer



Joined: 22/12/2008
Posts: 949

Message Posted:
23/06/2009 02:15

yes and today it dropped one point from what you say seems best i buy more as it might hit 2.80 doubt if it will make 3 by next week

basheer



Joined: 22/12/2008
Posts: 949

Message Posted:
23/06/2009 02:21

sorry eager seems I have it wrong

£1000 got me 2400 ytl rate 2.4017

breezyboy


Joined: 14/05/2007
Posts: 1179

Message Posted:
23/06/2009 12:27

Shippo-

It is 10000 euros each, see HMRC website.

Each airport has a rack containing duplicate forms to advise HMRC that you are removing more than this amount from EEC. You really have to look for the forms, one copy of which you post in a box and the other you keep to show if you are stopped. The whole amount can be confiscated.