Cyprus-Forum.com

[notatworkreally]

OK so I've been trying to find some information on the web and I can't find any.

What are the procedures for a Laiki account holder now that the bank no longer exists? What are the general procedures for any customer of a failed bank?

What happens to our Laiki debit cards, what happens to our eBanking? What happens to cash withdrawals abroad? As it stands, Laiki customers travelling abroad cannot use their cards at ATMs, and haven't been able to do so since the crisis started.
Will they be able to do so once the banks open? Will we be able to make transactions on eBanking or do we have to wait for BoC to provide us with new equipment/software? Will our account numbers remain the same?

I'm really surprised that I can't find the answers to any of these questions, and a little pissed off too.

[ludo1981]

to be honest your question is not stupid.
to reconciliate people and the banks they can maybe open a standard customer phone line to answer question customers have !!!! this will cost nothing compare to what they have to spend and really will improve the feeling to be left aside.

[Get Real!]

An administrator has been appointed for Laiki and so far the latest news is that accounts under 100K will be moved to the BoC, and the ones over will first be plundered by a yet to be official 30-50% before being moved to the BoC.

[supporttheunderdog]

Everybody is asking the same questions: I think that is why the banks are closed while they think of how to do it. Quite simply I think they had no clue as no one saw this one coming, or knew it but were in denial about the possibility: I suspect everyone probably assumed the ECB etc would simply throw in a stack of money and life would pretty much go on, but the ECB, Troika, etc. drew a line.

Lets hope they get answers soon, mind we are (to a large extent) relying on the *ankers who largely *ucked up the banking system in the first place, ie the *ankers!.

(ask this: why did we need a bail out in the first place?)

Many people will not get their salaries on time at the end of the week/month, so I think Cyprus National day celebrations will probably be a bit muted.

[sven]

Everybody is asking the same questions: I think that is why the banks are closed while they think of how to do it. Quite simply I think they had no clue as no one saw this one coming, or knew it but were in denial about the possibility: I suspect everyone probably assumed the ECB etc would simply throw in a stack of money and life would pretty much go on, but the ECB, Troika, etc. drew a line.

Lets hope they get answers soon, mind we are (to a large extent) relying on the *ankers who largely *ucked up the banking system in the first place, ie the *ankers!.

(ask this: why did we need a bail out in the first place?)

Many people will not get their salaries on time at the end of the week/month, so I think Cyprus National day celebrations will probably be a bit muted.

They knew it was coming, Cyprus is the guinea pig, this is a link to a JOINT report from the

Federal Deposit Insurance Corporation and the Bank of England
10 December 2012

http://www.bankofengland.co.uk/publicat ... /nr156.pdf

Look at paragraph 23 on page 5. What the report talks about is changing the legislation in the UK so that they can harmonise Theft from your bank accounts in the uk, albeit in legalise.

[notatworkreally]

Please try to stay on topic

[sven]

Please try to stay on topic

My apologies notatworkreally, off topic, but it is related.

http://www.laiki.com/EN/Pages/Home.aspx
From the link above

Following the announcements of the ministry of Finance, the 19th, 20th, 21st, 22nd, 26th and 27th of March 2013 have been declared as a bank holiday. During this period, no banking transactions will be carried out, including electronic transactions. ATM withdrawals will continue to be allowed, as well as card purchases with credit and debit cards.
This measure taken on ton grounds of public interest in order to ensure financial stability
We apologise for any inconvenience caused.

There isn't even any news announcements for 2013. Crazy situation, and what happens if they don't open Thurs, I don't see them opening until next tues. to be honest I would have thought there would at least be an announcement on the Central Bank of Cyprus webiste.

[sven]

I don't know whether this means anything, it says in greek only and is dated today

http://www.centralbank.gov.cy/nqcontent.cfm?a_id=12582

[die7]

No news, I query whether banks will open this week!

[B0B]

nothing interesting there - just repeats what the eurogroup decided sunday...

as for how do businesses function with all money locked up...
well guess what - they dont