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Old Mar 7th 2017, 10:09 pm   #1
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Default Bank Account

Hello, I'm moving to cyprus in April for some work but I'd imagine I'd get paid cash for it. Is it easy to set-up a basic bank account with a debit card? What info/documents do I need to get it all set-up or does anyone know which bank is the best out there.
A friend of mine who worked there a few summers ago said the greeks hate the banks and try and avoid them (maybe something to do with the greek economy)
can anyone shed some light on this subject?
Thanks
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Old Mar 8th 2017, 7:45 am   #2
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Default Re: Bank Account

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Originally Posted by petefitpt88 View Post
Hello, I'm moving to cyprus in April for some work but I'd imagine I'd get paid cash for it. Is it easy to set-up a basic bank account with a debit card? What info/documents do I need to get it all set-up or does anyone know which bank is the best out there.
A friend of mine who worked there a few summers ago said the greeks hate the banks and try and avoid them (maybe something to do with the greek economy)
can anyone shed some light on this subject?
Thanks

It is easy to open a bank account. You will need to take your passport and rental contract with you. We use the Bank of Cyprus and find them good.
Steer clear of Alpha bank.


Just for your information though, the locals are not Greeks. They are Cypriots. Cyprus is not a Greek island, it is a totally independent country and the only thing it has in common with Greece is the language.
Older Cypriots in the past did used to have a tendency to prefer to keep their cash under the mattress. This caused a bit of a panic when Cyprus changed from the Cyprus pound to the Euro as people then found they had change their Cyprus pounds to Euros an d in many cases this money had never been declared to the taxman. Nowadays most Cypriots use the banks and prefer to use cards rather than cash when paying for things.
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Old Mar 8th 2017, 9:28 am   #3
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Default Re: Bank Account

Great information. Thanks so much
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