how to take currancy when relocating to cyprus

[barb.lloyd]

can somebody please give us some information on how we take personal money to cyprus on relocating is there a right way and wrong way to do this .
is there any one who can advise what banks to use etc.

[Veronica]

Originally Posted by barb.lloyd

can somebody please give us some information on how we take personal money to cyprus on relocating is there a right way and wrong way to do this .
is there any one who can advise what banks to use etc.

Hi barb,

Welcome to the forum.
The best way to transfer your money if it is a large amount is via currency exchange companies who will get you the best exchange rate at the time.
You can also just do a bank transfer from a bank in the Uk to a bank here once you have an account here.
If you are transferring large amounts to a bank here you will need proof of where that money came from, ie, bank records, proof of sale of property etc.
We bank with the Laiki Bank and have always found them to be good.

Regards
Veronica

[barb.lloyd]

hi veronica, thankyou for quick reply.
we are coming over to cyprus 28th november for one week to look for houses etc, we are looking for rental accomadation in pissouri do you recommend anybody etc.
we are going to make the move over in feb 2010.
do you know of any job agencies we can visit also while we are over there.
many thanks
barbara

[Veronica]

Hi Barb,
Sorry I don't know of anyone who does holiday rentals, all my contacts do long term only.
There are lots of websites with holiday lets and I am sue at this time of year you could get a very good deal especially as many people have had poor occupation rates this year.
Find something you like the look of and make an offer below their asking price.

Veronica

[barb.lloyd]

it is long term rentals we are after in pissouri .
barbara

[arthurdiane1960]

Originally Posted by barb.lloyd

can somebody please give us some information on how we take personal money to cyprus on relocating is there a right way and wrong way to do this .
is there any one who can advise what banks to use etc.

Hi Barb,

Veronica is right you should try using a currency specialist they give the best rates. I have used a comparision website called Currency Finder - Unbeatable Currency Rates across the UK .
I hope it helps, all the best.

Arthur

[barb.lloyd]

thankyou arthur very much appreciated

[JonandGaynor]

Hi Barb
If transfering larger sums of money a currency exchange company is definately the way to go but if you want to transfer smaller sums then open both a sterling and euro account. You can transfer funds direct from your British bank to your Cyprus sterling account, let it sit there until exchange rates are acceptable and transfer this into your euro account. I would also comment you get better exchange rates in Cyprus banks compared to those in the UK.
Regards
jonandgaynor

[BabsM]

Originally Posted by JonandGaynor

Hi Barb
If transfering larger sums of money a currency exchange company is definately the way to go but if you want to transfer smaller sums then open both a sterling and euro account. You can transfer funds direct from your British bank to your Cyprus sterling account, let it sit there until exchange rates are acceptable and transfer this into your euro account. I would also comment you get better exchange rates in Cyprus banks compared to those in the UK.
Regards
jonandgaynor

The exchange rate may be better with Cyprus banks but the charges levied by the Bank of Cyprus when moving money from a Sterling account to a Euro account are greater than those levied by Lloyds TSB when moving money from their International Sterling Account to their International Euro account. On balance we think the Lloyds Accounts are better value than the Bank of Cyprus's.

I don't know if it is true for other Cyprus banks?

[barb.lloyd]

Originally Posted by JonandGaynor

Hi Barb
If transfering larger sums of money a currency exchange company is definately the way to go but if you want to transfer smaller sums then open both a sterling and euro account. You can transfer funds direct from your British bank to your Cyprus sterling account, let it sit there until exchange rates are acceptable and transfer this into your euro account. I would also comment you get better exchange rates in Cyprus banks compared to those in the UK.
Regards
jonandgaynor

we very much appreciate your information and thankyou so much
barbara