Check your bank accounts.
We have found a deduction of €164.60 on our savings account under the heading capitalized interest.
We have been to our bank and the manager could not explain this as we have not been over drawn or taken money out of the account against uncleared funds.
On the managers instructions I have sent an email to the Hellenic head office asking why this money was taken form our account and to refund it.
Check your accounts!!
Paul
Bank Accounts
Re: Bank Accounts
Interesting as I found this document (albeit dated 2017) from Hellenic Bank. Only references (on a quick read) to capitalised interest are:
1.8 Credit Interest
1.8.1 The credit interest is calculated on the credit balance of an interest bearing account and is capitalized at the end of each year i.e. 31/12 or at the closing of the account or on the expiry date of the period if it is a fixed deposit account. The calculation is based either on the daily balance or the minimum monthly balance depending on the product. The interest rate may be fixed or floating. On the capitalization of interest the amount of accumulated interest is added to the balance of the account after deduction of the special defense contribution (where applicable).
This is on the GESY website and as Lincoln suggests above, maybe it is because of this? However, would have expected GESY to be mentioned on statement.
Income earners (e.g. rent, interest, dividends) Up to 28/02/2020 = 1,70% From 01/03/2020 = 2,65% On their income
Have read several comments from people who receive monthly interest on their savings accounts in that since 01 March 2019 an amount has been deducted from the interest. Also Cypriot Pensioners have an amount deducted from their state pension as does everyone who pays Social Insurance.
1.8 Credit Interest
1.8.1 The credit interest is calculated on the credit balance of an interest bearing account and is capitalized at the end of each year i.e. 31/12 or at the closing of the account or on the expiry date of the period if it is a fixed deposit account. The calculation is based either on the daily balance or the minimum monthly balance depending on the product. The interest rate may be fixed or floating. On the capitalization of interest the amount of accumulated interest is added to the balance of the account after deduction of the special defense contribution (where applicable).
This is on the GESY website and as Lincoln suggests above, maybe it is because of this? However, would have expected GESY to be mentioned on statement.
Income earners (e.g. rent, interest, dividends) Up to 28/02/2020 = 1,70% From 01/03/2020 = 2,65% On their income
Have read several comments from people who receive monthly interest on their savings accounts in that since 01 March 2019 an amount has been deducted from the interest. Also Cypriot Pensioners have an amount deducted from their state pension as does everyone who pays Social Insurance.
Re: Bank Accounts
It says nothing about tax just Capitalized interest!
And as I have said we have not been over drawn at any time.
And as I have said we have not been over drawn at any time.
Re: Bank Accounts
We have been back to the bank today and the money is going to be refunded plus the extra €12 I found that had been taken!
The manager was not pleased when we told him about the extra €12 as it had been take in 4 €3 payments.
He adminted that the money should not have been take with out our permission.
The manager was not pleased when we told him about the extra €12 as it had been take in 4 €3 payments.
He adminted that the money should not have been take with out our permission.
