# bank account



## ethel (Jul 14, 2008)

how do you go about setting up a bank account and which bank would anyone reccomend. are there any documents you need to set an accountup. is it possible to set up an account from england before we move to cyprus. would be grateful for any info.


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## jeffrey Streets (Dec 17, 2007)

*Opening an account*

Hi,

Opening an account in Cyprus in my opinion is easier then the UK and all you need is your passport unless you are appying for a mortgage then you will need proof of earnings etc. I am with the Hellenic Bank and I find their on line service excellent. But of course there are other good banks available and it is personal choice. In comparison to UK banks I would say they are better and you can e-mail the banks here (which you cant in the uk) and get a reply and phone the bank direct where in the uk (Lloyds) your sent around every branch before you get an answer.

My advice is wait until you come over and shop around for the best bank within your area. You can still use your UK cash card in Cyprus so you wont be short for money (thats if you have any of course)

Good luck

All, I can be nice when I want to.


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## Chris & Andrea (Feb 15, 2008)

ethel said:


> how do you go about setting up a bank account and which bank would anyone reccomend. are there any documents you need to set an accountup. is it possible to set up an account from england before we move to cyprus. would be grateful for any info.


Hi Ethel,
Definately agree with Jeffrey on this one we opened our accounts with Hellenic Bank, finding them most approachable, paying a personal visit on our last trip out in May.
P.S. Just had a reminder from the 'Administrator' as to where I've been lately ? Nice to be missed!! No comments Jeffrey ~ your recent replies making me smile as usual. You're not far wrong in some of your coments as to the situation in the UK. Falling house prices and value of the pound not exactly helpful when we're trying to maintain our own 5 year plan to move over permanently. Regards to all Forum members ~ Chris ~


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## peterwalter3000 (Mar 19, 2008)

*Cyprus Bank*

Hi , The wife and I have found that the Co Op bank in Cyprus is the best . The reason we have found that is the lowest rates for changing money , helpfulness and very friendly at all times . Any time we go in there are sweets on the counter , when we ask to see the manager , the first thing he ask is , do you want a coffee or tea ? ask how you are etc . The one we use is at Paralimni . I am not saying all of the Co Op banks are the same but this one certainly is . This bank was also the cheapest for our house insurance . 
We did start off with the Bank of Cyprus but there bank charges are quite high and one day I went in and ask about my internet banking that we could not get into for some reason . The costomer service person was just not interested and told us to phone customer services . We shut the account down there and then and stayed with the Co Op ever since .
As for documents to open an account , just the useal prove of id stuff , passport etc , we did not open an account until we got to Cyprus .
Good luck anyway . Hope this is of some use .


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## ethel (Jul 14, 2008)

*thanks everyone*

thanks everyone we are hoping to be out by end of august as we want to get boys into schools before new terms start. we will visit the bank when we get out there and open an account then. thanks for all your advice. cant wait to leave england everything is miserable here with all the crime, interest rates and cost of living going up all most daily.


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## jeffrey Streets (Dec 17, 2007)

*sweets on counter*

The Hellenic has better sweets then the Co-op!!!

God what have I started now?????


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## ethel (Jul 14, 2008)

*sweets*

i'll remember that when looking at banks when i arrive in cyprus thanks jeff


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## sue (Dec 29, 2007)

Hi, I'm moving to Cyprus on 17th May can enyone till me if I can open a bank account with sterling or a sterling cheque. Hope to hear from someone very soon. Panicking Sue.


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## Miles and Sue (Nov 11, 2008)

sue said:


> Hi, I'm moving to Cyprus on 17th May can anyone till me if I can open a bank account with sterling or a sterling cheque. Hope to hear from someone very soon. Panicking Sue.


I'm not sure about the cheque but you can open an account with sterling what our bank did for us was to opens a sterling account and a euro account so all our sterling is still sat waiting for the day the exchange rate gets better and we just transfer over what we need for day to day expenses which you can do very easily either on-line or in the bank. the bank is the marfin laki which we have found to be most helpful - not sure what their sweets are like but i will check next time we are in


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## BabsM (May 24, 2008)

sue said:


> Hi, I'm moving to Cyprus on 17th May can enyone till me if I can open a bank account with sterling or a sterling cheque. Hope to hear from someone very soon. Panicking Sue.


Hi Sue, 
Its better to open a Sterling account with cash as cheques, especially in foreign currency can take a considerable amount of time to process. Any of the banks in Cyprus will open Sterling and Euro accounts for you or you could open an offshore account with a British bank. We use the Bank of Cyprus and are very happy with them. we started with a savings account as it gave us interest and only opened a cheque account when we moved here.

If you are opening an account you will need your passport and a copy of your contract or rental agreement. Do make sure your bank knows whether you will be holidaying here or resident as there is a tax that gets levied on all resident's accounts. Do check on the charges for the account too as they can vary from bank to bank. If you are planning to bring a large amount of money and to keep it here it might be worth considering a long notice savings account as the give better interest.


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## teandto (Jan 6, 2009)

before you decide on a bank it might be worth asking your employer how they are paying you and through which bank. 

My husbands employer is going to pay him by a cheque issued from bank of cyprus so if he banks there he can just cash it if he wants to where as if it is another bank he uses then he will have to pay it in and wait for it to clear. 

This is what he has told us anyway hopefully its correct!


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