Cyprus banks

Hi Phil,

I've been using Hellenic since we got here 6 years ago. I've never been cherged for withdrawing funds from an ATM, unless I use another bank's ATM - and then it's the other bank that charges. Online transfers within the SEPA are free up to €1000 or €1200, and other transfers cost €3.

Do you have an account with the international banking unit?? If so, that's the problem. You need to move the account, if possible, to a local Hellenic branch.

From what I have seen and checked on other bank's websites, Hellenic is about the best in Cyprus.  BofC and Alpha bank definitely charge way more.

@phildraper

As far as I am aware all Cyprus banks charge for someone else's card use in their ATMs....

Just found out last week that the yellow and blue euronet atms don't charge for local cards or Revolut cards (within revolut card free ATM withdrawal limits and not weekends) ive  tried it in protaras and pegeia so far  all good

@martin65150

I agree Martin despite their charges Hellenic are the better of the mainstream Cyprus banks imo. .. It's their ever increasing charges that persuaded me to ditch local banks completely.. but I feel the pain of those who for immigration requirements must keep a local account.

Fitch Ratings has upgraded Hellenic Bank's credit rating and outlook, citing improved operating conditions and a stronger credit profile.

https://cyprus-mail.com/2023/11/03/fitc … 1699086809

@Toon

Toon, morning,

I think we have replied many times on this subject and now will refrain. As you well know-- I dont Bank in Cyprus and will not. Am happy where I am (you know). Whatever little I get charged by the Channel Islands is better than fretting here. Have peaceful Sunday

Charles

@charles533

I don't bank here anymore either...  Two years or so now

Latest on Hellenic Banking

Endeavouring to support its customers through the current challenging financial pressures, Hellenic Bank has introduced an array of new measures aimed at easing its customers' obligations, while facilitating their banking needs. The new measures pay particular emphasis to vulnerable groups and offer free banking transactions, reduced fees, an increased Single Euro Payments Area (SEPA) limit and fee charge, as well as in-store support, to name a few.

Basic banking without fees

Using its Online Banking and Mobile Banking App as alternative channels to carry out basic daily transactions, Hellenic not only provides customers with instant and remote access to meet their banking needs, but also offers this service without any fees. In other words, basic online transactions are free of charge.

In addition, as the Bank systematically upgrades its digital services, its online support services allow transfers to financial institutions of Cyprus and Europe (SEPA) of up to €5,000 free of charge (valid for online money transfers in euros, within the EU and with a regular execution date). Via Online Banking, customers can also choose to print their IBAN free of charge, pay bills to over 1,200 different accounts and local organisations in cooperation with JCC Smart, recover their PIN, temporarily freeze their card, request the creation of accounts, loans and insurance products, and order cheque books, in addition to other services.

The Bank's Mobile Banking App also facilitates customers in making unlimited money transfers within Hellenic Bank in real time and entirely free of charge, as well as to send or receive money in a matter of seconds. What's more, customers with a debit card connected to their Savings or Basic account can withdraw cash (in euros) from any ATM, both in Cyprus or abroad, free of charge. More recently, the Bank has also provided customers with the option of acquiring a Hellenic Bank Basic Account for a flat monthly rate of €1.50

Source Cyprus Mail

@Toon perhaps they should consider paying interest on balances in your account

Can't see that happening ...  Ditched my local accounts as luckily I don't need them ... So our funds are placed elsewhere earning safe passive income

Instant transfers of funds yeah thats a dream for them lol

@phildraper During the last month I have had to make a stage payment on my house build. So I tried a little experiment, I transferred €5000 a day for 7 working days. I made the transfer around 10 am each day and it was in my Hellenic account within 3 hours. In the past transfers have taken days. I was very pleasantly surprised.

oh that is good news then as it looks like they might have finally understood the meaning of FastCash lol