guidance please on taking money out of the trnc

jacko


Joined: 20/11/2007
Posts: 193

Message Posted:
10/11/2009 12:59

hi all

can anyone tell me the rules for taking my money out of the trnc as i have sold my villa and going to Turkey.

jacko

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
10/11/2009 13:09

$10K USA max. cash. The rest you'll have to transfer by TT bank to bank.



Richard

jacko


Joined: 20/11/2007
Posts: 193

Message Posted:
10/11/2009 13:15

thanks richard do i have to notify anyone at customs that i have this money on me, that also means more government charges for bank transfers. Looks like they want as much money as possible one way or the other from people

jacko

jacko


Joined: 20/11/2007
Posts: 193

Message Posted:
10/11/2009 13:18

can you also tell me is that per person or for a couple if for a couple do you class your parter as per person or can they take out that amount as well?

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
10/11/2009 13:23

Under $10K cash you're okay. Ask your bank whether they have a branch in Turkey near where you're settling and get them to set up an account there from here. Transfer fees are about £25 or ask them for a bankers cheque draft, though this may take up to 3 weeks to clear. Another bank rip off practice!



Richard

joandjelly


Joined: 24/02/2008
Posts: 2953

Message Posted:
10/11/2009 13:24

Jacko if you have a bank account here with a Turkish bank it may be a good idea to open an account with the same bank in Turkey then it might be cheaper to transfer your money or even free.

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
10/11/2009 13:25

$10K per person. Carry it separately on your person.



Richard

jacko


Joined: 20/11/2007
Posts: 193

Message Posted:
10/11/2009 14:33

i have an account with turk bank which is available in turkey but the manager told me that i would be charged for the transfer i cannot remember how much now but it was for every £1k you transfered. When i did my calculations this meant that i was going to be paying alot of money for this service. i did argue the fact that as an existing customer and will continue to be a customer with the bank that this service should b free but the manager was adamant that charges had to be made. Hence the reason for my question on looking at cheaper options of keeping my money not giving it to others. I realise the security aspect of carrying large sums but might may be the only option.

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
10/11/2009 14:58

Jacko

I think that the charge that you are referring to is a government charge and is therefore not the fault of the bank. Yes the TRNC 'government' loves to squeeze every last drop out of you.



Paul