Cyprus-Forum.com

[Radio]

I shall shortly be visiting with a view to buying a property. Obviously, I will need a bank account, so which bank would you recommend and why ?.
(When I lived on the island 15 years ago I used the Bank of Cyprus, but that was just for day-to-day transactions, not international transfers).

[andri_cy]

I use Bank of Cyprus as my bank in Cyprus and I do international xfers often without a problem. Of course someone else might know a better one.

[Snad]

I use the Hellenic bank. Always found them polite and helpful, which btw, is a bonus here.

[coredump]

I prefer Hellenic Bank. Their online banking is better than BoC's.

[Bill]

I used to use the Popular Bank of Cyprus ( now the Laiki Bank ) but they lost a transaction of £18,000 somewhere in cyber space and were extremly rude at my requests for them to find it.

The bank manager refused to take my calls after the third day of waiting and a face to face confrontation a few days later resulted in me being removed from the bank by the police.

When I rang to complain the first time the Bank manager stated --- " We transfer hundreds of thousands every day -- ok we seem to have lost your money but it's ONLY £18,000 -- it's not the end of the world !! "

Well to me it was the end of the world as it would have taken years to recoup that money.

The money eventually arrived at the destination account after 12 days -- no apology from the bank just a curt statement " your money has arrived at it's destination now I hope your happy at all the trouble you have caused us !!!! "

I now bank with the Bank of Cyprus and also have an account with the Hellenic ----- personally I wouldn't touch the laiki bank with a barge pole -- I still can't walk past the bank without feeling some resentment at the way I was treated .

Bill

[coredump]

Seems that Laiki Bank was involved in very high profile shenanigans: http://www.cyprus-mail.com/news/main.ph ... &archive=1
(Notice the names there: Papadopoulos, Milosevic )

[Supertrotter]

I have started to investigate which banks to use. I have identified two which have branches in the UK:

Laiki and Bank of Cyprus.

As I am from NW England, Bank of Cyprus has branch/office in Manchester so I may go with them.

Thoughts?

[Bill]

Well if the BOC in Manchester is the same as the BOC in London they say they are conected in name only.

I thought that BOC UK and the BOC Cyprus were the same bank but it seems they are a different company

I wanted to transfer some money last year to Cyprus but didn't have an account at that BOC branch ( in London ) --- I told them that I had an account with the BOC Cyprus and as the money was going to that account thats the reason I wanted them to send it.

The reply was " open a account with us and we will send your money just the same as any UK bank would we are not the same bank as BOC Cyprus" .

I thought this was a little strange --- I eventually sent the money via my own UK bank -- which cost a little more than I expected.

I will not send money via a UK bank anymore as there are lots of companies that will send the money from the UK to your Cyprus bank account cheaper and at a better exchange rate.

Bill

[Supertrotter]

Bill,

I have used Foreign Currencies Direct - They seem to have been good so far.

[Dave B]

We just opened an account with Bank of Cyprus in Polemi.

Very small branch but I could not beleive how helpfull they were. Cheque book arrived in two days as promised. However like everewhere else these days take previous bills, tax statements etc with you.

To move large sums I recomend HIFX - they guarantee no charges either end.

Dave B