Cyprus-Forum.com

[BerkshireScouse]

Hi

My wife and I are leaving Cyprus at the end of August to return permanently to return to the UK. We have two accounts with the Bank of Cyprus. Could someone confirm whether we are required to close these accounts upon leaving the island, or is it in order just to leave them open? (We would find it convenient to retain access to an account denominated in euros, for travel purposes). What would be the pros and cons of just leaving the bank account open, with a nominal balance in euros?

Many thanks in anticipation of your help.

[Londonrake]

TBH I don’t know but suspect it would be a matter decided by your personal bank and its policy. For a definitive answer you will be best asking them.

Good luck.

[Get Real!]

I would close the accounts in case they charge fees and it starts to pile up.

Even if they don’t charge anything right now, they may do so in the future without you knowing in which case you’ll get an unpleasant surprise as you see your balance dwindling.

My wife travels extensively throughout the EU; in fact she's gone right now and she never takes/uses cards when overseas… just pays for whatever she needs via Revolut… which is a British company if it makes you feel better.

Btw… bear in mind that your accounts will become inactive and this may trigger the bank’s software to flag it as such, in which case the accounts may start to attract a different set of fees.

Never trust banks because they’re extremely greedy and conniving having invented two dozen ways to take your money away!

[Londonrake]

Never trust banks because they…………>………..having invented two dozen ways to take your money away!

Two dozen? Amateurs - compared to Mrs LR.