BoC to shutter 15 branches, no redundancies ??

[trevnhil]

I find it hard to imagine a mobile banking Van coping with the number of people that use the Polemi Bank..

[WHL]

With alot of people Banking on line now, the need for Banks on every corner, is no more.

[trevnhil]

Our bank in Polemi still seems to be quite Busy, especially on Pension day.. From observations in the queue a number of Cypriot pensioners still use a bank book.. And I have also see carers sending money back home. And indeed we have used the bank there a few times to send money to a bank account in another country...

[PolemIan]

Depends how well it’s implemented Trevor. For example if you just stick a van in the middle of one village a couple of days a week, then no. Take the NatWest scheme though, it covers an area and population way bigger than the whole of Cyprus with and more towns and delivers a good service with a clearly defined schedule. I guess for some of the branches that are closing they don’t have to cater for the whole customer base - there will be a proportion, albeit small, who will just use a bank to get to a cash machine, so will probably just get cash out when out. The parallel to the U.K. is very similar, take me, I actually worked for NatWest / RBS for all my working life - in the last 10 years I probably set foot in a branch a dozen times. You have a generation growing up who will probably only go in once or twice in their lifetime, so different approaches have to be tried out. Some will work, some won’t and will fall by the wayside. I repeat my earlier point that it’s a shame for the village which is going it get a lot quieter with less foot flow, but as they say, change is inevitable- it’s a cliche for a reason! Wherever you draw a line in life, there will be people who are happy and some unhappy. We used to move office a lot in London - some people were happy because it made their travelling easier, some would go bonkers over an extra 5 mins, you close a couple of shops and the guy next door in a different line of business loses 50% of his trade and goes out of business, but you’re ok. Life’s full of tough decisions.

I think I need another coffe now!

Ian

[trevnhil]

Enjoy your coffee Ian.. I think you will have been typing when I put my last post on... And most of what you have written is referring to the UK... i believe that Polemi is a lot different.
But I also know that whatever is written here will make no difference at all, IF the branch is to close then that will go ahead..
Fortunately I don't see it affecting local shops, just the older Cypriot inhabitants.

[PolemIan]

Correct HIC. Cash handling is expensive and there is bugger all profit in it - one of the reasons why there is a push for contactless payments cards, or preloaded cards. The local community will be affected, I’m certain of it. When I was volunteering in the village it was obvious to see people vistung the bank, or just the ATM, getting cash out before going into one of the shops. After the close, more and more peple will start to get cash when in town and then the behaviours start to alter and they spend their cash nearer to wherethey withdraw it. Somone could install a 3rd party ATM, there are a few around but I wouldn’t use one, or the bank the could be replaced by something useful to the community - a pharmacy would be handy.

[trevnhil]

A pharmacy would be really handy and surely would make a profit with all the villages around..

[WHL]

A pharmacy would be really handy and surely would make a profit with all the villages around..

Cyprus has more Pharmacys per head of population, then any other European country, over here in the East there seems to be one on every corner, so i'm surprised you don't have one near to your village.

[Devil]

We have five pharmacies within ~10 km or so, even in this remote neck of the woods. We have one BoC branch in the village, which I dislike (closed my a/c). Up to last Friday, the nearest Hellenic branch was ~18 km away. Now, we have the new Hellenic mobile service once a week in the village, Great!

[PolemIan]

WHL / Devil, agree that generally you find pharmacies all over the place here. the nearest pharmacy to Polemi - that I’m aware of is Maria’s on Mesogis Red (who’s brilliant) which is a fair drive, call it 15km from our front door. If you are beyond Polemi heading towards Panagia, I’m pretty certain there’s nothing and come to think of it, I can’t recall one between here and Polis either. Or east of here though I don’t know that area very well. Happy to be corrected.

Ian

[trevnhil]

As far as i am aware Ian, you don't need to be corrected.. Maria's is the last before Polis and there are non in the villages..

[trevnhil]

So down to practicalities.. When the Polemi BOC closes and the ATM is removed is Stroumbi the nearest alternative, and will BOC customers have to pay to use a card in their ATM..
I do know that the Polemi Coop Bank closed down a while back, but I do remember seeing the ATM machine still in the wall... Is that operable, and would BOC customers have charges for using it ??

[PolemIan]

Trev, I think they charge €3 for a withdrawal at a non BoC ATM, Last time I used our Alpha card card to withdraw from the BoC in Polemi, a good 2 years or more ago, it was €2.50 per transaction. Hellenic also charges €2.50. We opened an account with some cash at BoC last year because Mrs W hates paying fees in case we forget to get cash from the bank in town. All the charges can be found online with Mr Google.

Ian

[trevnhil]

I went into the Polemi BOC this morning and I could not see any signs to say when they were closing..
I would have asked the teller but she was buy and people were waiting, and the Bank manager ws on the phone..
I was surprised that there was no notice posted that I could see. And aaso surprised that we have had no notification by email..

[Dominic]

As far as i am aware Ian, you don't need to be corrected.. Maria's is the last before Polis and there are non in the villages..

Yes, basically it is Paphos or Polis I think. I haven't seen one closer to Polemi.

[cyprusmax47]

A pharmacy would be really handy and surely would make a profit with all the villages around..

If you want to drive to Paphos without traffic from Polemi via Minthis Golf you arrive at Konia, where on the main road is the pharmacy I am using. It is perhaps 1 km shorter to drive than Mesoyi road, but then this pharmacy does NOT close at lunchtime like most of the others do.

Max

[tonee]

And best of luck trying to get parked at your next nearest BOC branch on Mesogi Road,always chaotic.

[Discobolus]

They tell me at the coffee shop that the bank in Stroumbi is closing as well, and that the accounts with BOC Polemi will be transferred to the branch on the way from Paphos to Chloraka.

[trevnhil]

have looked on a map to see where it is and have found it.. i must admit I have never noticed it as I have driven down that road.. Looking at the broad picture I would have though now that many people will be drawing out of a distant ATM much more than they normally would, and keeping it at home..