I-BANK

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Brian
Posts: 130
Joined: Sun May 13, 2007 11:21 pm

I-BANK

Postby Brian » Mon Jun 26, 2017 9:21 pm

This may be of some help.
Just returned from Crete after a great two week holiday.
Part of my mission was to open an I-Bank account.
My situation was of having a current account in Greece subject to the usual capital controls that are currently in place.
This permitted a weekly withdrawal of 420 euro (840 if joint) This was unsatisfactory, as, unless I visited i could not access my funds, hence I-Bank.
After several failed attempts at opening I-Bank acct this time Eureka! Apart from requiring a barrowful of documents and being fortunate that a very cooperative and competent gentleman was on duty the process was , although time consuming, pretty painless.
Some of the documents required: (Joint acct) Two passports, two tax numbers(AFM) tax clearance document Two statements of Pension entitlements, verification of residency, telephone no., utility bills, Questions (I kid you not) how many children, how many went to university etc.
After many official stamps and a queue out the door success. we were handed this little thingamajig and told to treat it as if it were the key to the nuclear button.
Eventually, returned home and approached the computer with not a little trepidation. After a few attempts and a wait of a couple of days, mission completed! money transferred.

Kilkis
Posts: 8776
Joined: Sat Apr 21, 2007 3:58 pm
Location: Near Chania

Re: I-BANK

Postby Kilkis » Mon Jun 26, 2017 10:09 pm

Perhaps you could give us all a clue as to what you are discussing. I-banking is used as a generic term for all forms of internet banking. Every bank that I know about has I-banking. Is this a particular I-bank? Is it in Greece? Is it associated with one of the known Greek banks? How does it get round Greek capital controls? I am sure there are many other questions.

Warwick

filippos
Posts: 5310
Joined: Mon Feb 05, 2007 7:38 pm
Location: Kalyves
Contact:

Re: I-BANK

Postby filippos » Mon Jun 26, 2017 10:15 pm

Brian wrote:............. and a queue out the door ..........
That bit sounds like The National Bank. Against that supposition is "......a very cooperative and competent gentleman was on duty......"

Kilkis
Posts: 8776
Joined: Sat Apr 21, 2007 3:58 pm
Location: Near Chania

Re: I-BANK

Postby Kilkis » Tue Jun 27, 2017 1:17 am

It is certainly true that Allen International are advertising that they created an i-banking experience for customers of the National Bank of Greece. That is not very exciting since every bank in Greece has an i-banking system.

Similarly there is an organisation called i-bank but they are in the USA. There is another organisation in the USA called ibank. I wouldn't have thought either of those were relevant to banking in Greece.

Hence why I asked for further details. Brian implied that having an account with this bank got round capital controls so I wondered how that was possible.

Warwick

filippos
Posts: 5310
Joined: Mon Feb 05, 2007 7:38 pm
Location: Kalyves
Contact:

Re: I-BANK

Postby filippos » Tue Jun 27, 2017 7:18 am

I wonder, could it be simply that you can transfer out funds that you previously imported as is possible with cash withdrawals?


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