Cyprus-Forum.com

[kurupetos]

So, simple (as possible) answer please: Laiki Bank customers will lose (probably) 60% of value of account over €100,000. Who else will lose money form their accounts and by how much?

What's a money form?

[Oceanside50]

So, simple (as possible) answer please: Laiki Bank customers will lose (probably) 60% of value of account over €100,000. Who else will lose money form their accounts and by how much?

Svetie, i think any depositor of Laiki will lose everything above 100,000euros

[yialousa1971]

So, simple (as possible) answer please: Laiki Bank customers will lose (probably) 60% of value of account over €100,000. Who else will lose money form their accounts and by how much?

Don't worry I will take of you.

[Oceanside50]

there you go Yialousa, jump on it

[cyprusgrump]

Just had a run-in with the bank manager over the new rules governing removing money from a notice account...

These new rules by the way are not mentioned in the official releases about capital controls.

The Bank Manager said "It is not your money, it is our money."

Result!

The last words from the bank manager were that we could do nothing but complain to the Bank of Cyprus head office and to the Central Bank. But he warned us that "they had huge teams of lawyers and we could not succeed"...

Well we did complain to both by e-mail.

Today the Central Bank contacted us and confirmed that The Bank of Cyprus was not operating within the rules of the capital controls. They have written to the Bank of Cyprus and informed them that they have to conform to the rules - i.e. anybody with a notice account can access €300 per person per day - not the €2,000 per month limit that they had arbitrarily applied from May 1st.

So it seems it is not the bank manager's money after all....

[CBBB]

Just had a run-in with the bank manager over the new rules governing removing money from a notice account...

These new rules by the way are not mentioned in the official releases about capital controls.

The Bank Manager said "It is not your money, it is our money."

Result!

The last words from the bank manager were that we could do nothing but complain to the Bank of Cyprus head office and to the Central Bank. But he warned us that "they had huge teams of lawyers and we could not succeed"...

Well we did complain to both by e-mail.

Today the Central Bank contacted us and confirmed that The Bank of Cyprus was not operating within the rules of the capital controls. They have written to the Bank of Cyprus and informed them that they have to conform to the rules - i.e. anybody with a notice account can access €300 per person per day - not the €2,000 per month limit that they had arbitrarily applied from May 1st.

So it seems it is not the bank manager's money after all....

It must be your round!

[cyprusgrump]

Just had a run-in with the bank manager over the new rules governing removing money from a notice account...

These new rules by the way are not mentioned in the official releases about capital controls.

The Bank Manager said "It is not your money, it is our money."

Result!

The last words from the bank manager were that we could do nothing but complain to the Bank of Cyprus head office and to the Central Bank. But he warned us that "they had huge teams of lawyers and we could not succeed"...

Well we did complain to both by e-mail.

Today the Central Bank contacted us and confirmed that The Bank of Cyprus was not operating within the rules of the capital controls. They have written to the Bank of Cyprus and informed them that they have to conform to the rules - i.e. anybody with a notice account can access €300 per person per day - not the €2,000 per month limit that they had arbitrarily applied from May 1st.

So it seems it is not the bank manager's money after all....

It must be your round!

It is!

[CBBB]

Just had a run-in with the bank manager over the new rules governing removing money from a notice account...

These new rules by the way are not mentioned in the official releases about capital controls.

The Bank Manager said "It is not your money, it is our money."

Result!

The last words from the bank manager were that we could do nothing but complain to the Bank of Cyprus head office and to the Central Bank. But he warned us that "they had huge teams of lawyers and we could not succeed"...

Well we did complain to both by e-mail.

Today the Central Bank contacted us and confirmed that The Bank of Cyprus was not operating within the rules of the capital controls. They have written to the Bank of Cyprus and informed them that they have to conform to the rules - i.e. anybody with a notice account can access €300 per person per day - not the €2,000 per month limit that they had arbitrarily applied from May 1st.

So it seems it is not the bank manager's money after all....

It must be your round!

It is!

Where's mine, I am in Limassol everyday?

[cyprusgrump]

Just had a run-in with the bank manager over the new rules governing removing money from a notice account...

These new rules by the way are not mentioned in the official releases about capital controls.

The Bank Manager said "It is not your money, it is our money."

Result!

The last words from the bank manager were that we could do nothing but complain to the Bank of Cyprus head office and to the Central Bank. But he warned us that "they had huge teams of lawyers and we could not succeed"...

Well we did complain to both by e-mail.

Today the Central Bank contacted us and confirmed that The Bank of Cyprus was not operating within the rules of the capital controls. They have written to the Bank of Cyprus and informed them that they have to conform to the rules - i.e. anybody with a notice account can access €300 per person per day - not the €2,000 per month limit that they had arbitrarily applied from May 1st.

So it seems it is not the bank manager's money after all....

It must be your round!

It is!

Where's mine, I am in Limassol everyday?

I drank it....

[cyprusgrump]

Ms Cyprusgrump

I was advised internally that the Central Bank has sent a letter to the BoC
and that the BoC will amend its procedures so as to allow the transfer of
E300 per person per day, at least for persons whose contract/ previous
arrangements permitted such transfers.
Please contact your branch whenever convenient in the coming days and let
us know if the situation has changed.

Kind regards