Cyprus Bailout | Taking Holiday Money From South to North

Cyprus Bailout | Taking Holiday Money From South to NorthWITHOUT PREJUDICE

Cyprus Bailout | Taking Holiday Money From South to North

In the light of the information below, some people are worried that if they land in Larnaca in order to holiday in the north, their holiday cash may be at risk:

“A FINANCE ministry decree, the third since controls were first introduced, yesterday raised the ceiling on transactions which do not require Central Bank approval to €25,000 from €5,000.

It also permits the use of cheques worth up to €9,000 per month.

Other restrictions introduced last week, including a €300 per day cash withdrawal limit and a €1,000 euro limit on the amount travellers can take overseas, remain in place.”  [Cyprus Mail 03.04.2013]

Remember it is never a good idea to carry too much cash anyway. If you are coming on holiday in the north, via one of the ROC airports, there have been no reports of anyone being stopped at the border crossing and their money counted/confiscated but it is wise to be prudent.

North Cyprus does have cash machines where you can obtain sterling. If you have a Nationwide flex account these transactions in sterling are still free of commission. Other GB cards do have a small charge made. The rate of exchange from north Cyprus exchange bureaus for the lira are normally better than the rate in the UK and are commission free.

Why take the risk when the answer is so easy.

Anon

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