Tag: bank

Euronet ATMs: A Relatively Honest Way to Take Money from Foreigners

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In Cyprus (as in many other European countries, by the way), you can often come across Euronet ATMs. I remember someone once told me to be wary of them, but didn’t go into much detail about why.

I hardly ever saw these ATMs in the capital, Lefkosia (Nicosia), but in tourist areas, they’re on almost every corner—brightly designed to catch your eye and offering the option to withdraw large amounts of cash. That’s appealing, since most ATMs have withdrawal limits. And when you’re abroad, cardholders usually pay an additional fee for each transaction, so it’s more cost-effective to withdraw less frequently but in larger sums.

For a long time, I didn’t really look into what made these ATMs so problematic—especially since I live far from any tourist zone and don’t have any of them nearby. But I kept hearing negative feedback, so at some point I decided to dig into the issue.

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Cyprus: A Bank, Like a Meal, Is a Leisurely Affair

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I was thinking about what else to write about Cyprus when the topic presented itself—we had to open a bank account for my daughter.

When I first came to Cyprus, everything was new to me. I didn’t know any Greek at all, but the similarity of the alphabets allowed me to at least try reading Greek signs. I remember the very first word I noticed was “Τράπεζα,” which I kept seeing everywhere. It’s pronounced exactly like the Russian word “трапеза” (meaning “meal”), but in Greek, it means “bank.” And since banks are everywhere in Cyprus, the word was hard to miss.

The first time I had to open an account, the company I worked for helped me. That’s a common practice in Cypriot companies that bring in employees from other countries. Back then, the process was pretty quick—everything was prepared for me, and all I had to do was sign where they pointed. Then it was straight to work, with my salary deposited into the account on the last working day of each month.

Later, when I had to handle various bank-related matters on my own, I began to learn the intricacies of the process firsthand.

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