Bank accounts

retired1999 · #1 (**permalink**) 11th April 2012, 01:27 PM

Hi I am new to this forum and wondered if anyone could please help me? I am looking to move to Cyprus as I am retired and I receive quite a good pension,. What I need to know is this unfortunately 3 years ago I was declared BR due to bad investments prior to the credit crunch. I want to know if I will be able to obtain a bank account if I come to Cyprus. I have basic accounts in the UK and that is what I am looking for if I retire there, I don`t want an overdraft facility just an account where I can get my pension paid in, and where I can pay DD`s SO`s and suchlike.

Veronica · #2 (**permalink**) 11th April 2012, 04:33 PM

Hi,
Welcome to the forum.

I can't see any reason why the banks would refuse you a basic bank account.
You will probably need to produce a sales purchase or rental agreement to prove you live here.

retired1999 · #3 (**permalink**) 11th April 2012, 05:08 PM

Hi and thanks for the welcome. I am looking to rent initially so will have a rental agreement also I have 3 years of bank statements from my UK accounts.

sjg-uk · #4 (**permalink**) 11th April 2012, 06:01 PM

Quote:

Originally Posted by retired1999

Hi and thanks for the welcome. I am looking to rent initially so will have a rental agreement also I have 3 years of bank statements from my UK accounts.

No worries , you can even open a non resident bank account at Bank of Cyprus . All you need to bring with you is proof of your UK address , such as a current utility bill , also passport and another ID , such as drivers licence. You can then open a Internet bank account , as a non resident , and access your account on line from the UK.
I did this the first time I can here on holiday , then once I moved here and got a tenancy agreement , the bank then upgraded my account to give me Debit card and cheque book.
They will not credit check you as you are not applying for an overdraft. I'm not sure if they can check the UK credit information anyway ?
Bank of Cyprus have been very good , everyone there speaks English and you get good old fashioned service. I can't praise them highly enough.

leesa13 · #5 (**permalink**) 11th April 2012, 06:16 PM

Hi
I moved to Cyprus just over 2weeks ago. I went into Laiki bank and said I wanted to open an account, I had to show my rental agreement and passport, they filled in the forms, I signed them and that was it, account opened within 20 minutes. I had to go back a week later to pick up my visa debit card and I got my pin through the post on the same day. Excellent staff and service and so easy!

Veronica · #6 (**permalink**) 11th April 2012, 06:45 PM

We have our accounts with the Laiki bank and usually take our clients there when they need to open an account. They are very helpful and friendly.
The one bank I would definitely NOT recommend is the Alpha bank. The staff in the main branch are rude and very unhelpful.

sjg-uk · #7 (**permalink**) 11th April 2012, 07:08 PM

With Bank of Cyprus , you are given the name and direct phone number of your own personal banker. It is also written on your monthly statements .
Try getting that back in the UK , without the need to speak to an Indian call centre !
Cypriot English is much easier to understand !
Banking in Cyprus is now a pleasure , rather than a pain .

zin · #8 (**permalink**) 12th April 2012, 07:01 AM

Hellenic bank is good too, I opened an account with them as a non-resident and their online banking is pretty good.

retired1999 · #9 (**permalink**) 12th April 2012, 01:00 PM

Just a quick thank you for your replies, that is one less thing to worry about

sammiejward · #10 (**permalink**) 13th April 2012, 12:48 PM

Hi, I am moving to Cyprus in July, and am just wanting to know what is the best bank to go with. I am going to be living with my parent for a few months before I hopefully rent on my own and therefore will then have a tenancy agreement. Would the non resident bank account be the best thing to do when I arrive?
Thanks.