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HSBC is no problem ... as long as they keep getting credits and transactions ....my address is Cyprus all ok.. don't give up your bank accounts unlesscthey force you ..

Take revolut works for us

So u use hsbc and it is not difficult to transfer from hsbc to resolute? My skills are limited.

All the banks here will ask for proof of source of funds on major transfers like when buying a house and every once in a while they will ask for a review of annual transactions with the account holder . any transactions that stand out will be subject to questions   even Cyprus lawyers here will ask for it too under due diligence rules and anti tax evasion laws .. ... Usually under €10k is ok .

Some have even been asked for house sale invoice statements etc and even  tax returns too... To prove sources

I am starting residency process and have been advised I need to have an amount showing in a Cyprus bank account, anything between 10,000 and 30,000 Euros. I am thinking of going with Bank of Cyprus. Anyone know how much it is with them and how long I have to keep this money on deposit as need to spend some money on villa. Thanks Gary

I believe hellenic to be cheaper than BoC and their e-banking is better and easier. New rules now that Brits are non EU. But the deposit in a Cyprus bank i believe is the same at each bank as it's set by immigration not the banks ... It can still be used though....I dont think it's deposited for a given period of time .. I would suggest checking that out with immigration .. I suspect it's more to do with getting the temporary residency untill you acquire permanent residency at 5 years and not becoming a burden on the state.. they simply need to satisfy themselves that you have enough to support you and your family dependants while living here.

Eileen you don't need an expat account with HSBC an ordinary account is fine... But as I say check out othr banks maybe try Isle of Man Jersey Guernsey

As for source of funds 

I know I was asked for bank statements, house sale invoices from 15 years ago luckily I had them. Investment savings statements . Pensions pots etc

I would suggest you create a list of the sources and values and present that and try to explain.. I did this too as some I couldn't produce what I needed as like you we didn't keep some stuff as we never ever thought we would buy a property ..  but we did just last year..

Thanks Toon. Gary

Just found out that HSBC do a currency account to existing clients and you can have as many currencies as you wish  and is easy to apply for online thru their mobile banking app.. I have just done this and will see how it goes .. I may use it I may not but need to find out how well it works

BTW the new updated app is very clear

Just got notified by HSBC of the new currency account and it's in my app now and will be active in two days .....

Just thinking your hsbc account is it registered to Cyprus address? I have Barclays just now if I used a relatives address do they ever check this I wonder,.  Seems so many do this I can’t be alone with this dilemma.  I can’t put my money into wise or starling etc., it’s proceeds from a house oo large of  an amount. Their more for cash and everyday stuff I think not savings. Please correct me if I am wrong. Can’t get into a hsbc branch to speak due to covid. What a pain.

Anyone on here use a family address? How does it work, any problems?

Eileen yes it registered to a Cyprus address... But we've been abroad for a long long time in Malta first then here in Cyprus

Usually the account holder will have to prove three months bills in their name

Revolut UAB Lithuania are covered by the state deposit compensation scheme upto 100k..

If you have the hsbc account and mobile banking app apply for the currency account as I ve just done this online and it's already in my banking app and will be active on Wednesday

Do Barclays not have a similar currency account in their international arm

HSBC’s say they are monitoring the situation on eu. Also Santander.

Thousands had their accounts closed must be using family and friends

HSBC told me not too long ago that as long as transactions were going through the account they would not be closing accounts

That’s great to hear. Just been looking at tutorials for online banking, looks very complicated (for me) I wonder if I can manage it.  I get anxiety doing that stuff. My skills are rubbish though I am a bit old.

Its not that difficult really ...

I am sure ur right I have anxiety….

I had a Barclays account for 50 years and my friend here in Cyprus was a former country manager for Barclays, who had his pension paid by them into his Barclays account.

6 years ago Barclays closed the accounts of all expats registered as living in Cyprus (and Malta). A year later that would have been illegal because of legislation already going through parliament, and they knew it since I and many others pointed it out to them, but they still went ahead and did it. When I asked what to do about DDs STOs and my Pension they said that it wasn't their problem.

Luckily I had a bank account with another UK bank (Co-operative) that did not mind non-resident ex-pats having an account, else I'd have been scuppered.

Thanks a lot Barclays!

That’s what I am afraid of too. Can u tell me if you still have the Coop account? Do they take non residents? I just need a solution so I can sell my house and bank the proceeds to live off of.

Yes, my wife and I have a joint account with the Co-op and they were informed in 2011 that I was moving to Cyprus. They send all my correspondence here, however, for internet banking they cannot handle a phone number that is not a UK one. So I have a UK mobile that I use solely for internet banking (One-Time Passwords etc.) and it never leaves the house.

Try standard bank .... I know they are good to go

What about trying for an Irish Bank .....

Just an update for you re HSBC currency account

App operational within two days transfers IN tried and funds in the account within 2 hrs although the first one took almost a day . not tried OUTgoing yet but it seems they can't be done in the mobile app but can be done  on the web .. but that's not a problem for me.. it looks like you can even deposit cheques by scanning the cheque front and back

Don't know what the exchange will be HSBC sterling to the hsbc euro account and.unlikely to use that function and I've only intended to use euro to euro and increase the safety net for deposits

Further update

Transfer of HSBC euro to Revolut euro account completed and in my account in under 4.5 hrs... Its taking longer to get to my Cypriot account

Update HSBC to cyp account a little over 5 hrs

Thinking last resort just bung everything into wise account!  No interest anyway.  Any thoughts anyone.  Just been reading the future of banks. By 2035 they will all be digital, no physical branches anywhere. Hmm!

Try Fimbank Easisave in Malta ( euros) been with them for over 10 years and still paying interest at .35% easy access I admit not a lot but it's better than a poke in the eye with a sharp stick..  easy to apply for and set up as a non resident client

I think this bank may be your answer based in the isle of man I will consider these if my current bank closes accounts for sure.. I have banked in the past with IoM offshore banks (Santander and Bank Of Scotland) and they proved reliable and safe .. or should I say as safe as they can be in today's world.

I keep a UK HSBC account for my pensions and such stuff. There rarely more than a grand or two in there and I transfer my hard earned cash to Indonesia most of the time.

They were a rare old pain the the posterior at first, blocking my card for suspicious activity every time I used it, but they've settled down now and I never get any problems. In fact, I'd go as far to give them a glowing report.
I gave them my new address - Absolutely no problems

I have an app on my phone so I can keep an eye on things, but I can also use their automated phone service to get balance info and so on.

Only one minor point - I prefer to use a person when I transfer and they always try to get me to convert to Mickey Mouse money (Euro) instead of direct from Sterling to Rupiah. Not quite sure why they do that - ho hum

HSBC have been great for me so far over 14 years .as have the online banks I've mentioned ..

If it wasn't for private pensions needing to be paid into a uk account I probably wouldnt bother with them to be honest

Toon wrote:

If it wasn't for private pensions needing to be paid into a uk account I probably wouldnt bother with them to be honest

I also find mine handy for other monies that are paid in.
It never hurts to keep a UK account. My state pension will kick in in 7 years, so that'll go HSBC as well.

I don't have that problem Fred ...

People giving me money is never a problem