The Phileleftheros website has published what it says are details of the restrictions that will be imposed when the banks reopen. It states that there may be changes.
Under the decree you cannot cash cheques unless you are making deposits.
No non-cash payments or transfers of money outside Cyprus except for payments for commercial transactions within the framework of the ordinary activities of the business with the presentation of documentary evidence.
Evidence is not required for amounts not exceeding €500.
Other exceptions include payment for employees outside the republic; living expenses of €10,000 per quarter and fees of people studying abroad and who are first-degree relatives of people residing in the Republic, again with the necessary documentation.
Payment and transfer outside the republic through debit, credit or prepaid cards of up to €5,000 per month for every credit institution
Payment of claims for insurance companies.
Other payments and transfers that have the approval of the committee
A notice account cannot be terminated before its due date unless it is used to pay a loan at the same credit institution. It is forbidden to take notes in euros or other foreign exchange of more than the equivalent of €3,000 per person per trip. Customs will ensure this.
Any exchange payment or transfer not completed before these measures came into effect are covered by this decree.
Exceptions are all moneys coming from abroad, diplomatic missions, financial transactions within the same account, payments approved by the committee, the Republic and the Central Bank.
This applies for seven days starting with publication in the gazette.
The one that got me ........Insurance not paying out....
or have I read it wrong...
