?300 a day: Cyprus banks open Thursday
 

This is an update to "Cyprus banks as of open Tuesday".

Cyprus Banks will open their doors between noon and 18:00 local time. They're GMT+2, so GMT London 10 to 16.

* Confirmed that the cashing of cheques will be banned. Bank withdrawals will be limited to €300 a day, and that the effectiveness of the controls will be evaluated on a daily basis.

* Cypriots will be prohibited from taking more than 3,000 euros in cash abroad on each trip, and limited to spending 5,000 euros on their credit or debit card.

It could be temporary for 7 days or month or maybe a year

correction: the limit on cash that can be taken out of the country per trip abroad (boat, plane) is ?1,000, not ?3,000 as previously reported. In addition to limit bank wires to euro 300 per day, they want to be sure even the cash bank notes people had saved at home, can't be bring out of the Island.

Any restrictions for outgoing wire-transfers?

300 euro a day, this is for wire transfers, not for ATM.

That is so fucked up....

Mums got 5K to shift - We are trying to think of a cunning plan - Any ideas?

this is a beta test for other countries

So if you have a business and need to pay bills and buy inventory you're just fucked?

.

Stupid limits......

Sounds about right

sucks for the people with $$$ stuck there :(

insane...

Just to be clear.

If I owned say a jewelry store my main account would be raided for a certain percentage. I would be prohibited from making payroll, buying new inventory, paying rent, etc?

I also would be a fool to deposit any new income and new sales would be limited to those with cash stashed at home?

.

Collapse:2 cents:

1..2..3..bingo

Lol:
http://www.worldcasinodirectory.com/cyprus/casino-list

i'm hungry for more information

Random news:

- Cyprus΄s finance minister said that large deposit holders (over 100,000 euro) at Cyprus Popular Bank PCL (CPB.CP), also known as Laiki, could face losses of as much as 80% on their deposits. He indicated that it could also take six to seven years before those depositors see any of their money returned. “Realistically, very little will be returned". Some 20%, after 6-7 years. Losses facing large depositors at rival Bank of Cyprus PCL (BOCY.CP), could reach as much as 40%.

- Search for suspicious savers who beat Cyprus bank freeze: the Cyprus Parliament has demanded the names of those who moved suspiciously large sums of money shortly before the island's bank accounts were frozen. Commentators wondered how Russia could go along with a restructuring that would cost its citizens an estimated four to six billion euros. The reason may be simple: The biggest Russian account holders already have gotten most of their money out of this island tax haven through a gaping loophole. "I don't know one millionaire who would keep money in Cyprus in 2013" a Moscow tax consultant said. "As far as private individuals, they are a lot, and have hundreds of thousands in accounts there."

- The euro traded 0.2 percent from a four-month low versus the dollar as traders speculated future European bailouts could include the kind of bank deposit levies imposed on Cyprus. There is concern what’s happened in Cyprus is setting a precedent for what could potentially happen to deposit holders in other parts of the zone.

:helpme :helpme :helpme

Thats interesting because manwin certainly moved from there to dublin just in the nick of time.....

Random news, banks opened but no cheques can be cashed, and wire/ATM is ?300 a day:

- "I want to cash my salary," says Christina Andreou wielding a cheque for ?1300. She can't.
http://static.guim.co.uk/sys-images/...d-460x326.jpeg


- Counting 12 private jets on runway at Larnaca airport.
https://pbs.twimg.com/media/BGcaHHeCMAMpehc.jpg

Cypriot Foreign Minister Ioannis Kasoulides said on Thursday he expects bank transaction controls to stay in force for about a month.

Just few days ago they said "will be very temporary". So "very temporary" = month. Then they said a week. Now a month...

I think they are trying to control human ground movements here. The doors have to open for people to walk inside. Hmm… Bank withdrawals are limited – that sucks for those users. Spending is limited. Those bank users would hope these limits are temporary. Anything could happen. Life is really unpredictable. People always relied on money, even from ancient times. Businesses certainly need to operate. They indeed do need to pay bills. Something similar to collapses? Maybe. People that learned to save a lot of money over time would probably be in a better financial position.

:( bad news.