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Cypriot banks - recommendation?

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Re: Cypriot banks - recommendation?

Postby cyprusgrump » Tue Apr 23, 2019 1:20 pm

miltiades wrote:Had you had suffered a severe " haircut" you too would be cautious with Cypriot banks. The charges are " my insurance "

Your money is guaranteed up to €100,000 by the EU Deposit guarantee scheme... I can't imagine the OP will need more than that to pay day-to-day expenses... :roll:

Also, who knows in future a Cypriot bank account showing regular transactions my prove useful for tax or residency purposes....
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Re: Cypriot banks - recommendation?

Postby miltiades » Tue Apr 23, 2019 4:10 pm

I love Cyprus, but I hate the banking system.
Although i have a Bank of Cyprus a/c I use rarely only keeping the bare minimum. The events of 2013 have left a bitter taste in my system. My trading is done through my Barclays account. All my expenses also. It keeps me happy.
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Re: Cypriot banks - recommendation?

Postby Maximus » Thu Apr 25, 2019 8:11 pm

It not wise to have all your money in one bank account if you are liquid in excess of 100k. This applies to any countries banks where they only guarantee up to a certain amount.

There are enough banks in Cyprus to spread the risk so all (or most) of it is guaranteed.

Also, there is nothing wrong with the banking system in Cyprus. :lol: Except, they close too early.

Bank of Cyprus is probably your best bet, then Hellenic.

Both have online banking and the most banks (ATM's) on the street.

I think Hellenic charges a 5 euro yearly maintenance fee.
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Re: Cypriot banks - recommendation?

Postby supporttheunderdog » Mon Jul 15, 2019 11:57 am

I use Alpha and also Hellenic. Alpha's main problem is paucity of branches compared to BoC and Hellenic. Just opened the Hellenic account and no real experience with them yet - they are for my kids and Alpha could not offer a similar product.

What ever happens there will be some costs in either using a UK card or transferring in money to a CY bank account, but I suspect regular use of a UK card may be more costly.
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