Closing Down A Bank Account

NCMan



Joined: 19/09/2009
Posts: 670

Message Posted:
14/12/2011 14:14

If you decide to close down your account, will the bank give you cash or a cheque.



If it is a cheque where does one cash it ?.

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
14/12/2011 14:15

Closed loads... always cash.

NCMan



Joined: 19/09/2009
Posts: 670

Message Posted:
14/12/2011 14:18

That's good , how much notice do they require to close it ?

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
14/12/2011 15:20

If it's an account with a date for maturity then you would do best to do it on that day and give them 3 days notice if the amount is large... (over 10k)

scruff


Joined: 15/07/2008
Posts: 1070

Message Posted:
14/12/2011 15:24

It depends on how much cash you are talking about? They don't keep very large sums in the smaller branches. If the bank has more than 1 branch in a town, the busiest branch will often hold larger sums of money.



You'd need to give them at least 1 day's notice if it's a large sum & preferably 2 days. For a smaller amount, they will probably let you close the account & pay you in cash on the same day.



If you are closing the account to move the money to another bank here & the sum is large, they can move the money via the TRNC Central banking system. From memory, if you do this in the morning before 12 noon or 1pm. then it will arrive at the other bank the next morning.

Pippie


Joined: 02/12/2009
Posts: 1288

Message Posted:
14/12/2011 17:45

Just to add the the end of Scruff's message ...

But check with your bank about transfer charges. I don't know if they're all the same but some do charge to send money to an account in a different bank. And if it's done on a % basis, if the sum is large it might be worth your while taking a suitcase to fill up and do the transfer yourself!!

scruff


Joined: 15/07/2008
Posts: 1070

Message Posted:
14/12/2011 18:05

Pippie.

I have moved money from Bank to Bank here, via the Central Bank on several occasions. To & from different banks & never paid a kurus. Last time was about a year ago. This was not a Banker's draft though, which will cost, but a transfer via the TRNC Central bank. Every time the process has gone without a hitch.

However, move loads of money from here to the UK. & sadly that's a completely different ball game.

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
14/12/2011 19:44

If I intend to move money from one bank to another I prefer to use a bankers cheque but some banks may charge a fee for the cheque. One ploy is to ask for cash or cheque depending on their preference and normally they prefer to write you a cheque at no charge. I did this quite a few times but occasionally they offer cash and I had to accept it.



Normally there is a legal limit of how much you can withdraw from a bank in one day but who knows the limit? There is also a limit of I think 10,000 TL you can withdraw without prior notice but if they have cash in hand they will wave that too.

ismet