Cyprus-Forum.com

[Gagman]

Recently a friend of mine had a transfer to her IBAN account from a non EU country.When she received the transfer,the cash was not equal to the amount sent to her in Euros.
She inquired to the bank,only to be told that 'all non EU country cash transfers,are sent to Germany before arriving to the central bank of Cyprus'.
So folks be aware! 14% of the total of the transfer is 'taken' by the German banks and the rest,what is left,is sent here where the bank has to take it's 3.4% bank fee out!
She said this statement to the bank clerk;

'I do not recall any of your staff informing me,that my transfer would go to Germany for skinning!' 'What is the use to have money in my account and being told that IBAN was a safe way to transfer cash?' 'I would have expected that money entering here, would be welcomed and not taxed or reduced from it's originated total?'

She walked out the bank crying.
Can some good citizen help by suggesting an alternative method to send cash to this banana republic? She needs to pay her land tax soon
Thank you for reading this.

[bill cobbett]

Your friend would do well to open an on-line account with a carefully chosen bank in CY.

Cos she will have this problem every year when she has to pay this tax.

Or perhaps a SWIFT transfer might be cheaper than IBAN in this case...???

[Get Real!]

I'm sorry to hear about this... these arseholes (EU in general) have made the system complex so they can confuse people and keep stealing their money!

Even international institutions have began to rob:

IMF Discusses 'One-Off' Wealth Tax
http://www.zerohedge.com/news/2013-10-1 ... h-grab-way

[Paphitis]

GR is telling it the way it is unfortunately.

The EU are a bunch of elitist arseholes that have destroyed Greece by stealing all its assets at bargain prices and leaving the people with nothing.

They were even more visious towards the RoC because they wanted to steal all the Gas, but thankfully the Government stuck to its guns and kept the Gas off the negotiating table.

By now, most people should know what the EU is all about. It is an undemocratic regime of tyrants who are robbing us blind. Stalin, eat your heart out!

[Gagman]

To Bill Cobbett,thanks for the constructive comment,but all banks are responsive to the central bank of Cyprus,there are no trustworthy banks,who have not touched people's savings.Swift is just as worthless.people are now saying paypal could be the answer or just get a friend to bring in a small suit case of Euro currency.Germany's previous currency was weak against the Cyprus pound,now they can control all small and large EU states with a wipe of the pen,much like the Green line story of the division of this Island.This Puppet regime will send everyone broke!

[bill cobbett]

Yes, was thinking of suggesting paypal last night Gagman.

... or get your friend to investigate this one. Features on several review sites, including moneysupermarket.

https://transferwise.com/

[Gagman]

Thanks Bill,I will tell her today.

[Jimski999]

My salary comes from the States into my UK account and nothing is deducted at my end; I also had my previous salary paid by IBAN from Kazakhstan for nearly ten years with nothing deducted. I also send money outside the EU using an IBAN code at my wife's bank and nothing apart from charges at my bank for the service is deducted. Seems to be a very strange situation.

Tell your friend to try Currency Fair as they usually give a very good exchange rate with very low charges.

[Gagman]

Thanks Jimski999,I will tell her and hopefully things will be better for her.

[Get Real!]

I just remembered sending money from Australia to an account in Cyprus (no fees for recipient) many times over via an International Money Transfer or IMT. This was ages ago though…