Cyprus-Forum.com

[JAYBE]

Advice please I need to open a bank account in Cyprus to give me some local funds should you find a property during our forthcoming visit.

Can this be done from the UK or only whilst on the island.
Any recommendations as to the best bank to use as initially it would be a relatively small amount to cover deposits, legal fees etc.

Thank you
Jaybe

[carleen]

my aunty had brought a place here in cyprus not long ago and while she was here she opened a bank of cyprus account it didnt take long to do at all now all of the small bills etc are direct debit.

[Svetlana]

You need to take your passport and a utility bill; once the account is set up you can access it from the UK via the internet. You may want to open two accounts: one in Sterling and one in CY£.

Not sure how easy it is to open an account from the UK; some Cypriot banks have branched in major UK cities.

Lana

[carleen]

yes thats right my aunty took her electric bill to the bank and her passport or driving license. i think its beter to open an account here more straight forward.

[joanna]

popular bank and bank of cyprus both have branches in England. Best to open it from over there to make sure, save runnig around when you get here

[sweetie pie]

I opened a Bank Of Cyprus account whilst over here and it took half an hour and was quite easy. I just needed my passport. Give some thought to opening a Euro account if you have the cash to spare given the move towards the Euro

[CatSitter_Limassol]

My understanding is the BOC in UK is not the same as here in Cyprus. You can open a sterling account with just a small deposit and your passport when you come to Cyprus. The process will take about 30 mins or so... You may want to consider opening a sterling high interest account though, if you are planning to transfer a lump sum into it. You can have a 7 day or 30 day notice account (slightly higher interest on the 30 day one) and you will get interest added every 7 or 30 days. If you want to withdraw - you just lose the interest on the bit in between (the interest is added the same day each week or month). We have a 7 day account and our interest is around 4% added every week. This way, it allows us to make a quick withdrawal should we need instant access to our funds.

The statement will be sent to your UK address. Not necessary to have a rental agreement or Cyprus utility bill. Maybe best to take some other documentation from UK that confirms your address there, as well as your passport though.

If you want to get a cashcard - for the machine.... Complete the application form at the same time you open the account but leave the form on the file. When you next come to Cyprus and you have an address here - you can go in and just sign the form. The card will be sent to the bank within 3 - 5 days. You have to collect it in person which is why it is best to leave the application form on the file - otherwise the card will be returned to the issuing bank in Nicosia. Once you have collected the first card any subsequent ones will be sent to your Cypriot address.

Hope that helps some.

[GAVCARoCOM]

In Cyprus I opened with Hellenic Bank and it was easy. Only you need is a passport. With bank of Cyprus they didnt open for me(they told me i have to open in uk) . May be because i m a TC.

[jambo]

I have my company and my personal accounts with Alpha Bank.
also very easy to get a mortgage from them...
If you are looking for a house try here.
http://www.cyprus-forum.com/viewtopic.php?t=9744

[milagros]

Hellenic Bank is the best I think. I tried both BOC and CPB but they were not like Hellenic which had a very friendly approach and they did everything they could to serve me. I think you need to come to cyprus to open an account. The branches in UK are separated from the cypriot ones.