They just dont want our money

[Discobolus]

Tried to open a fixed savings account with one of the Uk clearing banks, no cant do that we live abroad, we even suggested using one of the sons addresses, no cant do that, they would just rather have the money leave the country, which it will do. We have another fixed savings account coming up for renewal in a few months time, i expect we wont be allowed to do that either, they used to be called fixed bond accounts but they changed the name some time ago.

[trevnhil]

Have you looked at the Bank of Cyprus UK...

Eligibility requirements to open an international account
Business eligibility requirements to open international accounts

Companies registered in the EU or British Overseas Territories


Personal eligibility requirements to open international accounts

Existing customers - customers that are not UK residents
New customers - permanent Cyprus residents

If a personal customer or applicant does not have a permanent UK residential address they are classified as an international personal customer.

[Discobolus]

Thanks Trev will have a look at that .

[trevnhil]

What are these issues please ?

[galexinda]

I have a small fixed savings account (bond) with a UK bank and it is renewed automatically unless I notify the bank in writing. I get a letter about 6 weeks before the maturity date with the information.

[Varky]

A fair few of us were dumped by Barclays a while back when they decided we didn't have enough money and Bank of Cyprus (UK) was the best option, however there are a few issues they insist that they're 'working to resolve'!

Despite being one of those that were dumped by Barclays a couple of years ago, in the last few days I received one of their 'pinsentry' machines used when making payments on-line from a Barclays account.

Do they know what they are doing and what should I do with this machine? I want to take a hammer to it!!!

[Lazydaze52]

In answer to flossie’s post on BoC (UK) PIN numbers, if you happen to be going back to the UK at some point you can change your PIN at an HSBC ATM

[josef k]

You may find that the answer to all your woes can be found in the Chanel isles and the isle of Man. I have a current account with a British high street bank through their international operation in Guernsey. All their customers (other than CI locals) are ex pats so they are used to dealing with us. Also, although the CIs are outside the UK, they have account numbers and sort codes just like in the UK, so behave like UK accounts.
Many people think banking offshore is expensive, but I pay no bank charges and don't have to have a minimum amount in the account. However, I get no interest either.

Check it out.

[PW in Polemi]

Nat West International in Guernsey operate current accounts for ex pats. However, if you want to earn interest on your funds, you may well be told the same as me ...
Although an existing customer to whom they actually write from time to time, I had to prove my address with utility bills. Unfortunately, Polemi Council and EAC both consider Polemi and its postcode to be sufficient for inland mail, whereas NW not being on Cyhprus, have to add Paphos and Cyprus to the address. They refused to accept my local utility bills unless I could show them one with the address EXACTLY as they had it on their computer. No amount of reasoning would sway them. But their interest rate they were offering was a miserly 0.25% with a minimum balance at all times of £25K !!!!
I wandered up the road to Skipton who were much more amenable and offered much better interest rates. No internet banking yet, and I think no current accounts. Just deposit accounts with varying terms and rates.

[PaphosAL]

Similar experience to you, Kay, three or four years ago..

After 30 years loyal service with Isle of Man Bank, they phoned me out of the blue to tell me they were closing my Current Account in 30 days time, so I needed to transfer its balance (£5k) elswhere quite quickly!

This came as a huge shock to me, as I had always maintained an account balance of between £5k and £8k in the account, on 0% interest, plus had all my direct debits running through there. They cited 'commercial reasons', but wouldn't give me a specific reason...

I thought I would try and outsmart them by opening a Natwest IOM Current Account online. After a lengthy phone back from one of their staff, it turned out that I could only do this if I satisfied either of the following two condiiions:

1) I am resident in the IOM and can prove it with utility bills etc

or

2) I open the account with £25k minimum, keep it maintained at that, on 0% interest.

I'm guessing the same policy applies to Natwest CI and NW Gibralter...

AL

[Loxely Man]

Whenever we've had a reasonable amount of money we invest in FTSE 100 tracker ISAS, it has its ups and downs but overall the trend is upwards. I make a spreadsheet which has the number of Units invested, I can check every day how much they are valued at through the equations I've set up in the spreadsheet.
I've always been more than satisfied with this method of investing savings, you also have easy access to the funds whenever you wish to draw from them..

[JimX]

When Barclays closed accounts for none UK residents here on Cyprus some folks who I know who live here easily opened a Santander account from Cyprus and transferred they're money to use to a Cy bank, I have no idea of the procedure or what they require, but our friends did it with little fuss. Maybe worth investigating.

https://www.santander.co.uk/uk/help-support/contact-us

I do not have a property in the UK but I do have a Lloyds UK account, so far no problems.

[mike strand2]

I have held a Platinum Barclaycard for over 20 years, 9 of them in Cyprus. I asked them how to change my CY address as I was moving soon. Back came the reply, we are closing your account in 90 days because you do not have a UK (or other specific overseas address, such as Spain!!). Nothing I said could persuade them otherwise!!

[Loxely Man]

out of interest LM how much (%) are the annual management charges/fees?

My money was invested in the Legal & General FTSE 100 tracker ISAS accounts. I checked their prices daily and brought my spreadsheet up to date. I got what was shown regarding how many units I had. I posted the latest price which told me how much my funds were worth. I have been using this method since 1997 and have done very well out of it.
I also put £32K (82 Billion Turkish Lira) in a Turkish Time deposit account and made 15% in a year just after the millennium.

[Loxely Man]

The Banks we used in Turkey were 'Garanti' and also 'HSBC Turkey', don't know if HSBC Turkey have a branch in Nicosia, could be worth a trip. Every month I would send a fax to Turkey asking them to transfer several Billion Lira into my deposit account. I was then able to use my card in the UK with no trouble, we registered for tax in Turkey so every thing was legal there. Got a few strange looks in the UK stores and petrol stations regarding the unusual bank card but as long as the card and password were accepted no problem.

[TLR]

And here we were thinking you were an example of the downtrodden masses. exploited by a cruel uncaring capitalist system.
My Goodness, you have come a long way from your childhood home in a leaking cardboard box.
Are you quite sure you are not a troll?

[boycott]

Perhaps LM should mention that the Turkish Lira has halved in value against the Euro since 2014!

https://www.google.com/search?source=hp ... RlNYb0uSxM

[Kili01]

Based on what others have said I will not change my address in CY as far as NatWest are concerned! But I always get mail sent to my PO Box no. here....which they accepted.
Dee