Cyprus Problem | We’re Migrating Your Bank Account

Cyprus Problem | We're Migrating Your Bank AccountWITHOUT PREJUDICE

Cyprus Problem – We’re Migrating Your Bank Account

Don’t you just love it when a headline sends your mind off on a flight of fantasy. Sometimes things do get lost in translation but his one is delightful.

Just imagine you walk into your bank and are told your account has migrated. “Where has it migrated to” you ask. Oh not too far you are told, just down the road to the Bank of Cyprus. “Well” you say. “Did you give it a haircut first, I would hate it to arrive somewhere new looking scruffy”. You can be sure all those migrating accounts will have had the obligatory haircut if the balance was in excess of 100,000 Euros.

Of course you cannot walk in to Laiki Bank any more…it’s gone, a casualty of the banking crisis in the ROC that seems to still be limping on and on.

“BoC ready to migrate Laiki accounts

Customers experiencing problems with their cards over the long weekend can contact the bank between 9am and 7pm.

BANK of Cyprus (BoC) has announced that it will be migrating all ex-Laiki Bank accounts to its own electronic systems during the long weekend starting tomorrow until Monday.

The transfer is part of the absorption of Laiki by BoC according to the terms of the island’s bailout agreed in March 2013.

BoC said it has done all the preparatory work so that the transfer is carried out without affecting its customers.

Because of the move, the bank said certain transactions — transfer between own accounts, transfer to Bank of Cyprus customers, multiple payments — will not be available through the online 1bank platform between the afternoon of Saturday, June 7 to June 9.

For information, customers can contact their branch or 1bank on 800 00 800 or 357 22 128000 for international callers between 7.45am and 9.30pm, Monday to Friday or through

Customers experiencing problems with their cards over the long weekend can contact 1bank between 9am and 7pm.”

The casualties of the banking crisis are mounting. The NPL’s (None Performing Loans) refuse to do a disappearing act and the Banks and Government seem unable or unwilling to find a solution although they still seem hell bent on forcing the victims of stealth mortgages to pay for the sins of their vendors. Now where does that remind you of…..think…it’s not rocket science.

Yes you have it, the north of same island.

Both sides have a property sector in crisis and neither will acknowledge you should not punish the innocent. Will they ever learn?

Pauline Read

Print Friendly, PDF & Email

Comments are closed.