Banking in TRNC

Villain


Joined: 26/05/2008
Posts: 15

Message Posted:
15/12/2008 23:04

Can any of you learned folk provide me with some information with regards to banking in the NC.? Does anyone know whether or not it is possible to open

an account from the UK by post/internet.Also can anyone recommend a bank

that provides good service.I'm not overly concerned about the interest rates on offer as the account would be a current account used to pay bills by DD etc.

Also it would be extremely beneficial if the suggested bank had a branch in

Famagusta/Iskele area.



Thanks

CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
17/12/2008 11:46

Villain we Creditwest Bank Famagusta Branch can provide the services you require, if you would kindly email me on pazarlama@creditwestbank.com I will get them to contact with details of what you have to do in order to open accounts with our bank.

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
17/12/2008 11:56

Dear Creditwest.....what amount does your company guarantee if your bank should collapse?...who would guarantee this amount ie it would not be much use if a bank made the guarantee but did not have the money ...just trying to be cautious

CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
17/12/2008 13:08

Dear Stewart the offical amount guaranteed by the Savngs Deposit Insurance Fund (which is the state) is 20.000 Euros per account, unlike many other countries where it is eg 50.000 pounds per person in the UK not sure if that changed recently but the last time I checked it was that.

During the crisis of 2000 everyone was paid in full even if it was a bit delayed in the first few banks and the insurance cover then was 7000 pounds, plus due to isolation we have not been exposed to borowing or lending to markets such as the big banks have done which has poven fatal. The last bank that was closed (Erbank) was not even noticed by the market as all deposits were transfered to another bank and paid in full to those that requested it.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
17/12/2008 13:11

Who regulates the Banks in the TRNC

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
17/12/2008 13:58

try the turkish bank in north london.

CreditwestRep


Joined: 04/11/2008
Posts: 214

Message Posted:
17/12/2008 14:51

No1Doyen The Central Bank of the Turkish Republic of Northern Cyprus regulates banks in the TRNC: The web page is http://www.kktcmb.trnc.net