Which is the best bank ?Need advice

Katrin


Joined: 26/09/2011
Posts: 125

Message Posted:
09/11/2011 19:37

Which bank in Girne best open an account? With good percents and ability to take all cash when will it need

Fawsley


Joined: 01/05/2010
Posts: 59

Message Posted:
09/11/2011 20:20

Iktisat, interest rates about the same as all the others but if it's service you are looking for no comparison; friendly staff very helpful and English speaking department.

Jovial_John


Joined: 31/01/2009
Posts: 1024

Message Posted:
09/11/2011 20:32

I would recommend Creditwest. They have a good international rating, many branches, and are a Turkish Cypriot bank which means you are insured against bank failure - unlike the Turkish banks.

Interest rates will vary depending on which account you choose. A current account gives no interest, a 10 day account gives a little interest, a 30 day account will give good interest. But you must see what rules apply in the bank that you choose. With an interest account you can always take your money but if you take before the time you will lose all your interest for that period.

If you are looking for a bank account then I think maybe you have found a job - if so I give you my congratulations.

dublinderm


Joined: 26/09/2009
Posts: 538

Message Posted:
09/11/2011 20:35

Hi,



After some sound advice (thanks IAH Tom), I opened a bank account with HSBC in Girne.



Because they are international, you can check up on transactions largely regardless of where you live in the World.



You need a couple of pieces of ID (passport essential) and then it is easy.



DD

minertor



Joined: 14/02/2009
Posts: 1238

Message Posted:
09/11/2011 20:43

I think you'll find, DD, as I did when I thought the same way as you. That if you go into a UK branch of HSBC they'll deny having a branch here.



T

joandjelly


Joined: 24/02/2008
Posts: 2953

Message Posted:
09/11/2011 20:49

Having worked for HSBC for 18 years they do not deny having a branch here at all. It is highly likely that there will be many staff in many branches that have never heard of the TRNC but that is not at all unusual as it would be impossible to know of every branch in every country. When I was buying a house here in 2004 I transferred money from a number of different branches and none of them ever queried the branch in Kyrenia and I had no problems whatsoever.

Back to the question at hand, I bank with Creditwest and whilst they have good rates and good service they do not want you to withdraw large sums in cash and (in my experience) make it very difficult. It once took me nearly a week to withdraw some money as they would only let me take a certain amount each day. By contrast, Iktisat only require 24 hours notice.

rowlo



Joined: 12/10/2008
Posts: 4796

Message Posted:
09/11/2011 21:04

creditwest , cant fault them .

Sideways



Joined: 21/01/2009
Posts: 529

Message Posted:
10/11/2011 02:03

Message 5,

What a load of rubbish. If you have a HSBC Premier account in Girne your U.K. branch will upgrade your account to Premier as well. (Free travel insurance, free transfers TRNC - U.K., etc).

I also bank with Credit west and can reccomend both banks.

Hobnob


Joined: 20/11/2010
Posts: 55

Message Posted:
10/11/2011 06:30

JovialJohn,



I am a little confused with your msg 3.



Yes the Cypriot Banks are insured against 'bank failure' and the suggestion is to put no more than 20,000 Euro's in any one account but it is the Cypriot Banks that tend to go bust.



I know someone who is queueing up every week, and they have to turn up on a certain day (or they will not get their payment for that week), trying to get their money back from the last time some Cypriot banks went bust. There is no spare money over here to pay out properly.



All Cypriot Banks offer a higher rate of interest, why? Because they are the greater risk.



Turkish Banks do not offer these higher rates to get the business but they don't need to because Turkish Banks are backed by Turkey and in the event that they go bust well, the whole economy as a whole is in serious trouble.



Personally, I would bank in Turkish Banks, get 1% less and be comfortable in the knowledge that my money is far safer than in a Cypriot Bank.

minertor



Joined: 14/02/2009
Posts: 1238

Message Posted:
10/11/2011 08:43

msg6, JJ, obviously you've never worked at the Quay Road, Bridlington branch. They denied any relationship to HSBC Girne. It's opposite LLoyds, my UK bank so I thought it would be handy.

You should check this before calling me a liar!



T

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
10/11/2011 08:53

Sorry Tony you are definitely wrong. You only need visit the HSBC website for the UK from whence it's possible to navigate to the HSBC in TRNC to know that they do have a fully effective relationship with HSBC worldwide. Just because some employees are not clued-up with this does not make the HSBC here dodgy.

minertor



Joined: 14/02/2009
Posts: 1238

Message Posted:
10/11/2011 14:20

I bow to the superior, up to date, knowledge of HSBC banking. I didn't just go in and ask about HSBC in TRNC.

I made an appointment to see the manager. This was in mid 2005. I asked if I could deposit £20,000+ in Bridlington branch, then transfer, for free, monies to HSBC in Girne. He was adamant that HSBC had no branches in TRNC (at that time anyway) I use two banks here, one with just a sterling account that charges £2-06 to process LLoyds cheques, and takes 5 WEEKS to do so. The last one presented on 21-10 will be in my TRNC account on 28-11. In the other bank that I use here I have 3 accounts, one sterling and two TL. They charge £10 per cheque up to £5000 and £40 for cheques over £5000.

I would not be using these banks, or at leasat one of them. if HSBC could/would have catered for my needs in 2005.

As usual on this site, there are always those that throw insults from behind the shield of anonymity.

As always, I am available for a face to face, or side to side, discussion.

T

dearie


Joined: 08/03/2011
Posts: 142

Message Posted:
10/11/2011 15:00

Well said HOB nob

TheSaints



Joined: 28/01/2009
Posts: 1369

Message Posted:
10/11/2011 15:16

http://www.hsbc.co.uk/1/2/personal/travel-international/moving-abroad



Go to this link for the hsbc official UK web site click on the drop down list for countries they operate in it lists Northern Cyprus.



http://www.hsbc.co.uk/1/2/personal/travel-international/moving-abroad



I don't back with them but read the thread and juat wanted to see if they were officially recognised out of couriosity.



Mike

TheSaints



Joined: 28/01/2009
Posts: 1369

Message Posted:
10/11/2011 15:20

Ooops sorry for the typo I don't bank with them but I am looking to open an account and due to the fact that they are on the UK hsbc web site http://www.hsbc.co.uk/1/2/personal/travel-international/moving-abroad I may consider them.



Mike

minertor



Joined: 14/02/2009
Posts: 1238

Message Posted:
10/11/2011 15:24

msg 9>.......Personally, I would bank in Turkish Banks, get 1% less and be comfortable in the knowledge that my money is far safer than in a Cypriot Bank.







How much of your money is "safer" in a recognised Turkish Bank?

How much of your money is "safer" in a recognised English Bank/

If you have more than a moderate sum, say £200,000. How much of this is "safe"if it's in a single UK High Street bank, if this UK High Street bank fails?

T

Swany



Joined: 01/12/2009
Posts: 255

Message Posted:
10/11/2011 15:25

Re 3 and 9...



Jovial John you are misinformed every bank that operates legally in the TRNC is covered by the TRNC savings insurance scheme run by the central bank. This means that each account is guaranteed up to €20,000. This applies to the main land Turkish banks that operate in the TRNC.



(Just for the record the Main Land Turkish banks in Turkey are backed by a globally recognised and award winning insurance scheme giving 50,000TL per person per bank ran by their central bank.)



If you chose an offshore bank operated from the TRNC than you will have NO guarantee.

Toonie


Joined: 18/07/2009
Posts: 78

Message Posted:
10/11/2011 15:30

Msg 10



When we bought our apartment over here we opened a HSBC account at their Cambridge branch, also they opened a account a Girne for us. It cost £100 but at the time we felt it worth while and made paying our sSolicitor a lot easier.

breezyboy


Joined: 14/05/2007
Posts: 1179

Message Posted:
10/11/2011 15:44

Which c/w branch wouldnt let you have large amount of cash Jo/

Catalkoy let me have a large amount with no notice, didn't seem bothered at all.



C/w def the best and the best interest rates

Garanti very good service and super with internnet and standing orders. Their credit cards give you lots of airmiles with Turkish.



Turk bankasi the worst in my opinion



All accounts up to 20000 euros are guaranteed if in the TRNC by the government no matter who owns the bank. Not long ago when a bank got into trouble everyone was covered and moved to another bank.

Swany



Joined: 01/12/2009
Posts: 255

Message Posted:
10/11/2011 15:52

Re 16



UK up to £85,000 per bank is guaranteed. http://www.fscs.org.uk/what-we-cover/products/banks-building-societies/?



Turkey up to 50,000TRY per bank is guaranteed.



TRNC up to €20,000 per account.

joandjelly


Joined: 24/02/2008
Posts: 2953

Message Posted:
10/11/2011 16:45

Msg 10 - Tony I didn't call you a liar and I didn't insult you. You said that "HSBC" denied having a branch here and I pointed out that "HSBC" doesn't deny it. The fact that the manager at Bridlington Branch (wherever that may be) doesn't know his arse from his elbow is not that surprising really. Oh and my name is Jo Clark if it's that important to you.

Msg 19 - Breezyboy it was Karaoglanoglu Branch. They told me it was their policy that large sums in cash could not be withdrawn. It took me from Thursday to Tuesday to withdraw 100,000TL and I had given them over a week's notice.

minertor



Joined: 14/02/2009
Posts: 1238

Message Posted:
10/11/2011 16:46

Re 16







in response to minertor's msg 16>? UK up to £85,000 per bank is guaranteed. http://www.fscs.org.uk/what-we-cover/products/banks-building-societies/?



Turkey up to 50,000TRY per bank is guaranteed.



TRNC up to €20,000 per account

How many of you bloody "knowalls" knew that?

I did, which is why no bank as more than £35,000 of my money (that was the guaranteed limit two years ago, in UK banks. Listen to all these "financial experts" the PIGS need you. If you don't know who the PIGS are, keep your schekels under the matress.

T

minertor



Joined: 14/02/2009
Posts: 1238

Message Posted:
10/11/2011 17:08

msg 5; from minertor> I think you'll find, DD, as I did when I thought the same way as you. That if you go into a UK branch of HSBC they'll deny having a branch here.



msg 6; from joandjelly Having worked for HSBC for 18 years they do not deny having a branch here at all



msg 10; from minertor>msg6, JJ, obviously you've never worked at the Quay Road, Bridlington branch. They denied any relationship to HSBC Girne. It's opposite LLoyds, my UK bank so I thought it would be handy.

You should check this before calling me a liar

msg 21; from joandjelly>Msg 10 - Tony I didn't call you a liar and I didn't insult you

Joandjelly, I suggest you return to UK, enrol in a nightclass that teaches English language, then you just might recognise that you did indeed call me a liar. The insult I'll pass on, that was from another side, who may prove to have the courage of his convictions, most members know where to find me, if they so wish.

T

aruzhan


Joined: 11/03/2011
Posts: 146

Message Posted:
10/11/2011 18:11

Before Bayram I tried to send money via Money Gram from Karaoglanoglu Credit West . After half an hour waiting in a queue I was told the system did not work, the person who worked with the system was on hoilday and nobody else could do it.

Is it an AA rated bank ?( there is an advert in the bank).



I was told to go to Girne or Catalkoy branches to transfer money.

I had to return back to Girne Credit west where I was told that the system was already closed ( it was 10 min to 4).



Today , after Bayram I rushed to Girne Credit West again , filled the form only to find out that the system did not work. I was recommended to go to Karaoglanoglu or Catalkoy branch!



Money Gram I use when want to send money quickly. It already took me a week.



I always use Credit west and was happy with their service but not this time!

joandjelly


Joined: 24/02/2008
Posts: 2953

Message Posted:
10/11/2011 18:54

Msg 23, Oh dear, now who is being insulting! Once again, I did not say that you were lying but you said that if you go into a UK branch of HSBC they will deny having a branch here. I merely pointed out that HSBC (as an organisation) will not deny it. Perhaps next time, for the avoidance of doubt, you should specify that you are talking about Bridlington Branch in particular.

dalartokat


Joined: 14/04/2008
Posts: 734

Message Posted:
10/11/2011 19:11

Without being accused of nitpicking, technically Tony is correct that HSBC do not have branches in NC(as his Bridlington branch states). That is because the branches belong to HSBC Bank AS in Turkey and they are responsible for them. HSBC is a brand name and they are all under the umbrella of HSBC London, including HSBC International. My branch years ago in Lowestoft said the same and told me they dealt with Limmasol Turk Bankasi and never had a problem with them. My branch at Westwood X in Kent had no problem as the guy stated they have many people enquiring when they want to purchase property out there.



This argument comes up every time HSBC is mentioned more or less and its about time there was some where on this board all important info like this can be stored so people don't have to have arguments about the same topics every time..

Erkin


Joined: 15/06/2011
Posts: 339

Message Posted:
10/11/2011 19:25

The best bank to use in TRNC is Garanti or Is Bank, Garanti Bank is the largest in Cyprus and has branches or ATM machines all over Cyprus.Also their internet banking is the best in Turkey, even if you do not have a ATM card, you can send money to anyones telephone and the person can go to any Garanti ATM and make a withdraw.



HSBC bank has branches here only because they took over Demir Bank in 2002 in Turkey and Demir Bank had branches here, so legaly the branches here do not exist, even though u gave a sorting code for Girne, you will find that your branch is Levent in Istanbul as the main branch.



I tried last year to send from my HSBC in Brighton to Girne Branch and was told the same thing that all transactions are via Istanbul branch. Thats the whole point why we have Mersin 10 as a postal code.

Tonyta


Joined: 11/06/2011
Posts: 122

Message Posted:
10/11/2011 20:08

HSBC is fine for me.



Access through the internet and I can do what I want with transfers etc.

cinders


Joined: 08/10/2011
Posts: 61

Message Posted:
10/11/2011 20:27

sad oh so sad nothing better to do but be sad bas******s on here

HotHippo


Joined: 25/03/2010
Posts: 402

Message Posted:
10/11/2011 20:39

Cheers Mike - messages 14 & 15.

Will try to get an account open online, in UK and Girne.

Got to do something, as my last SWIFT (???) transfer from Nationwide in UK, to CreditWest in Karaoglanoglu, took from Monday 24th October, to today, 10th November! 17 days, £25 fee, 10 phone calls, 1 Forward Trace, and countless expletives!!

pollymarples


Joined: 08/08/2010
Posts: 1778

Message Posted:
11/11/2011 09:04

At this moment in time I am opening an account with a UK branch of HSBC bank and they are liaising with the Kyrenia branch in sorting out my address and verifying my passport, also the UK branch have e mailed the Kyrenia HSBC to confirm my status, does not sound much like they do not know of each others existence to me when they are working so closely together does it? Your Premier status is recognised throughout the worlds branches of HSBC. Marketing e mails come from the Turkey HSBC, I receive them regularly.



The interest rate is not as high as some Turkish Cypriot branches but I have very personal reasons to bank with them.

Jovial_John


Joined: 31/01/2009
Posts: 1024

Message Posted:
11/11/2011 09:44

Once you are Premier with HSBC you can take £1000 per day from your UK account via an ATM with no charges. At the moment you need to use SWIFT to transfer to Cyprus, but in time Turkey will join the 'global view' facility and then you can transfer direct within 24 hours, again with no charge.

minertor



Joined: 14/02/2009
Posts: 1238

Message Posted:
11/11/2011 19:31

Well, joandjelly, it looks like you were right, which means I was wrong, nowt new there then.

I googled HSBC and looked at all the countries where they have branches, TRNC isn't on the list, but Turkey is.

It seems that Girne and Gazimagusa branches are in Turkey.



Will certainly call in to Brid. branch when I get back to UK next year. Bank charges are getting a bit out of hand here.



T

rowlo



Joined: 12/10/2008
Posts: 4796

Message Posted:
11/11/2011 19:41

as with post all banks in trnc will come under mersin 10.

Ed1957


Joined: 03/09/2011
Posts: 377

Message Posted:
11/11/2011 20:05

Garanti, serious bank, house, contents, car insurance, everything, website better than my UK bank, and really good customer service.

cyprusjoker


Joined: 29/08/2009
Posts: 1107

Message Posted:
11/11/2011 20:21

Turkbank....................