Northern Cyprus Banks - Bank Accounts and Credit Cards

Opening a bank account in North Cyprus banks is very simple, in many cases all you will need is your passport. Although in the experience of Cyprop staff, some banks, notably HSBC, will ask for a copy of your purchase or rental contract and proof of UK address so be prepared just in case.

Banks in Northern Cyprus allow you to open current accounts and deposit accounts in both Sterling and Turkish Lire (YTL). A Sterling deposit account will pay interest at around 5% whereas a YTL account will yield between 17% and 20% but you need to be aware of currency fluctuations before investing large amounts of money in YTL. Tax of 8% will be deducted from interest earned on both types of account (figures subject to variation).

Cheque books are not normally issued to private customers of North Cyprus banks but credit and debit cards are readily available.

Banks in North Cyprus

Below you will find a list of major banks in Nicosia, North Cyprus:

HSBC

Main office Nicosia : Tel: 0090 392 2270300

Kyrenia : Tel: 0090 392 8159988

GARANTİ BANK

Main office Nicosia : Tel: 0090 392 2290980

Kyrenia : Tel: 0090 392 8150114

TURK BANK

Main office Nicosia : Tel: 0090 392 2283690

Kyrenia : Tel: 0090 392 8151360

İŞ BANK

Main office Nicosia : Tel: 0090 392 2283133

Kyrenia : Tel: 0090 392 8152950

Limassol Bank

Main office Nicosia : Tel: 0090 392 2284338

Kyrenia : Tel: 0090 392 8156786

Iksitat Bank

Main office Nicosia : Tel: 0090 392 2285144

Kyrenia : Tel: 0090 392 8155351

Opening hours (subject to local variation):

Summer : Monday 8am to 5pm
Tuesday to Friday 7:30am to 2pm

Winter : 8am to 5pm

Hopefully the information on Northern Cyprus banks above will prove useful to you when making the decision to move to Cyprus. Why not take one of our Inspection Trips to view properties in North Cyprus to help make your decision a little easier?