Recommend a bank in North Cyprus

missymongrel


Joined: 08/05/2007
Posts: 84

Message Posted:
26/10/2008 16:19

We are going over to North Cyprus next week and would like to open a bank account whilst we're there. We haven't got an HSBC bank account in the UK (as so many people appear to have). Can anyone recommend a bank to use?

Ossie


Joined: 19/01/2008
Posts: 311

Message Posted:
26/10/2008 16:48

Why not HSBC, you don't need to have an a/c in UK?Otherwise would suggest Turk Bankasi.

Turtle


Joined: 28/05/2007
Posts: 2669

Message Posted:
26/10/2008 16:59

HSBC is one of the more secure banks in the UK but not sure what thier status is in TRNC but thats were I would bank.

bachelibelly


Joined: 04/09/2008
Posts: 275

Message Posted:
26/10/2008 17:20

Given the global mismanagement of banks (TRNC excluded up to press) rather than recommending any one lets boycott them all as a protest and stick our hard earned under the bed.



Are banks and lending institutions that have gone under going to write off the mortgages as keenly as certain savings that may be lost under the guise of "you win some and you lose some"

flightholiday


Joined: 19/07/2007
Posts: 3217

Message Posted:
26/10/2008 18:03

HSBC Northern Cyprus are run as branches of HSBC Turkey - HSBC being a part of one of the large international banks it might well be a safe bank to bank with.

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
26/10/2008 19:10

I don't think HSBC banks in NC are part of or guaranteed by the UK HSBC.

dozza67


Joined: 11/07/2008
Posts: 607

Message Posted:
26/10/2008 20:40

If you have all the time in the world to waste then by all means bank at HSBC. The queues are always long and even if you have a premier account with them you still have to queue. You can spend hours in there waiting to be served. There are lots of other banks that will serve you better and give you more interest on your money.

dalartokat


Joined: 14/04/2008
Posts: 734

Message Posted:
26/10/2008 21:31

Hector, HSBC Bank AS, Turkey is the fifth largest bank in Turkey and has foreign branches. These branches are in Girne, Gazimagusa, Lefkosia. HSBC is a brand name. HSBC Bank AS Turkey is under the umbrella of HSBC Bank plc in the UK and reports to them. I hope this clears the mis-understanding of the HSBC Bank.

cyprusishome


Joined: 31/03/2007
Posts: 2381

Message Posted:
27/10/2008 08:33

Sorry for this stuck record..... AGAIN.



There are no problems with HSBC in TRNC they are effectively sub branches of HSBC Istanbul and as above part of an international organisation.



In 3 years of using Girne branch find we have no delays if you go at the quiet times. As most of us do not work that is not difficult. Just avoid the same days and times you would in UK. I am not going to repeat our times of going cos you would all turn up then.



As for other banks it is is a case of "pays your money and takes your chance". We have an account at Iktisatbank in Girne and they have a dedicated English Language section upstairs. If you want highest interest use Continental and use littlenige's name!!!!! Each will have their own preferences, would just say be careful, use a known brand to start with then investigate the others to spread and even increase your risk.

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
27/10/2008 12:19

HSBC is the world's largest bank and shares in the bank are recommended as a buy now (by most financial wizards)...



As CIH says they are fully covered by being a fully fledged member of HSBC worldwide and they are not a franchise.... HSBC don't do franchises. HSBC makes such large profits that their sub-prime mortgage exposure can written down against one years income and still not put them in the red.



If everyone in the world tried to withdraw all their deposits (msg 4) only 10 percent of depositors whould get their money back worldwide...



No government could guarantee such a situation.... notwithstanding the current promises of guarantees that have been made.

missymongrel


Joined: 08/05/2007
Posts: 84

Message Posted:
27/10/2008 13:48

Thanks everyone - I take it HSBC is the bank to go to!

CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
05/11/2008 12:11

HSBC is a large and respected worldwide bank but so was Lehman Brothers, the larger banks have been exposed to international markets and therefore risk of a fallout after one of the big boys close for business. For once the closed economy and isolation of the TRNC banks has meant we were not exposed to the high risks markets that big banks or governments are now paying the toll. So when choosing a bank keep these in mind as the branch banks as we call them from Turkey do not really pump deposits back into the TRNC economy whereas us local banks support the economy and growth here on the island by providing loans to local businesses and individuals for a better standard of life for everyone who live here. At Creditwest Bank we pride ourselves on our attention to customer needs and supporting our own economy.

TRNCVaughan


Joined: 27/04/2008
Posts: 4578

Message Posted:
05/11/2008 12:26

Nothing wrong with HSBC Girne, they just take ages to serve you. One of the delays seems to be that Brits opening a/c's are first attended to by a customer sales rep but are then taken to the cashiers area, where they are allowed to jump the queue, and proceed to spend another 20 mins filling in forms and signing bits of paper. If they reserved cashiers for deposits/withdrawals only they would be much quicker. I use Garanti bank and have never had to wait like I do in HSBC. I won't recommend you a bank, but don't get the impression that HSBC Girne has anything to do with HSBC UK, or is anywhere as efficient.

Bertie


Joined: 15/04/2008
Posts: 155

Message Posted:
05/11/2008 12:57

Whatever bank you use I think it makes sense just now for everyone just to have the maximum secured/guaranteed amount in any one account, then if the unthinkable does happen at least you have a hope of getting it back.

ebookuk


Joined: 13/11/2007
Posts: 121

Message Posted:
05/11/2008 13:04

I would recommend Turkish bank and Garanti Bank, Turkish bank is local bank, perfect customer services at least the branch in Karaoglanoglu is, Garanti Bank is a Turkish bank which I think is one of the safest banks in Turkey and here, but of course it is up to you, everyone has different experiences and opinions, as far as I am concerned very happy to use Garanti and Turkish bank here.

Chicken Run


Joined: 11/10/2008
Posts: 252

Message Posted:
07/11/2008 11:56

We use Iktisat bank and they have always been excellent. They have online banking in English and turkish, and they have lots of Engliah speaking staff. I can only speak as we have found and they have always been very, very good!

harita


Joined: 14/08/2008
Posts: 1343

Message Posted:
07/11/2008 12:00

Does anyone use the bank beggining with V, at the side of the Colony...



Harry

newscoop


Joined: 23/12/2007
Posts: 2197

Message Posted:
07/11/2008 12:17

Vakiflar bank is one of the two state banks. The other is KOOP bank, their branch is on the corner opposite Girne belediyi.

Casablanca


Joined: 16/09/2008
Posts: 32

Message Posted:
07/11/2008 12:52

with hsbc get a 'bank card'...and a credit card...with these you can pay-in cash at the express machine....and draw out too... pay your credit card etc etc... NO NEED TO QUEUE AT ALL...THEIR ADVANTAGE CARD IS ALSO USEFUL...U GET FREE ENTRANCE FOR 2 AT ISTANBUL ATATURK AIRPORT INTO THEIR GREAT LOUNGE, FREE FOOD AND FREE DRINKS!!!! FREE INTERNET ALSO....their on-line banking system is also VERY useful for standing orders, and paying local bills... electric, digiturk, phone bills... with the exception of water bills!



GREAT...

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
07/11/2008 12:59

Vaughan



"don't get the impression that HSBC Girne has anything to do with HSBC UK"



... why so? The HSBC bank in Girne is inextricably lniked to the HSBC group the worlds largest... it is not and never has been a separate entity...

Tricia


Joined: 06/03/2008
Posts: 70

Message Posted:
07/11/2008 13:07

We are with HSBC Bank and were told by them after asking the question that it was definitely not a franchise but actually a bonefide part of the worldwide HSBC Bank.



I guess over there you have to be careful who you believe, but you have to

trust someone or life would be unbearable.



We have taken a gamble with HSBC - good luck

Casablanca


Joined: 16/09/2008
Posts: 32

Message Posted:
07/11/2008 14:29

HAVE YOU EVER READ THE 'DISCLAIMER' THAT YOU SIGN WHEN YOU OPEN ANY ACCOUNT AT HSBC HERE!!!!! ...OR ANY BANK FOR THAT MATTER!



Your HSBC account is under the HSBC Turkey group and under their 'umbrella', and your 'recourse' is to them as far as I am aware and informed!



READ IT THROUGH SOMETIME AND SEE WHAT GUARANTEES ARE OFFERED TO MAKE SURE YOU ARE IN THE KNOW!!!!! AND WATCH THE LIMIT ON GUARANTEES GIVEN BY THE TRNC CENTRAL BANK FOR THE AMOUNT IN ANY ONE ACCOUNT! THEIR ARE LIMITS!

harita


Joined: 14/08/2008
Posts: 1343

Message Posted:
07/11/2008 17:09

newscoop wrote :- Vakiflar bank is one of the two state banks...

Does that imply it is a pretty safe bank...



Incidently some of the girls who work in Girne HSBC bank have been for training with the HSBC bank in UK ... Must be some affiliation



Harry

Littlenige



Joined: 24/12/2006
Posts: 3594

Message Posted:
07/11/2008 17:24

22% at contiental bank but no cards or on line banking, staff are brilliant and in and out in 10 mins.

harita


Joined: 14/08/2008
Posts: 1343

Message Posted:
08/11/2008 17:12

BTTT



newscoop wrote :- Vakiflar bank is one of the two state banks...



Does that imply it is a pretty safe bank...



Harry

CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
08/11/2008 18:29

The savings guarantee law applies the same to the state run banks as it does the other only big difference is that the government have their fingers in those banks and are even on the board of directors, Im sure you can work out the rest.

joandjelly


Joined: 24/02/2008
Posts: 2953

Message Posted:
08/11/2008 18:49

HSBC Bank AS Turkey is a wholly owned subsidiary of HSBC Bank plc in the UK and both entities are wholly owned subsidiaries of HSBC Holdings plc which is the overall HSBC company and that happens to be domiciled with its head office in Canary Wharf in the UK.



Casablanca is completely right when he says "Your HSBC account is under the HSBC Turkey group and under their 'umbrella', and your 'recourse' is to them".



Click on this link http://www.hsbc.com/1/PA_1_1_S5/content/assets/about_hsbc/hsbc_group_structure_chart_dec07.pdf to see a structure chart for the HSBC Group.