Banking in Gibraltar

Hi,

Your employer may be the best people to ask at this stage as its a big mystery to me and I have been here for 18 months.   

I have heard about people being paid cash and even services here now are starting to take cash so it looks like for the time being we are going backwards.   There is talk of a new Gib bank but no one can say when and there are worries about how safe that will be.   

You could look at offshore banking but again this isn't as easy as it sounds as the UK are actively declaring war on tax havens and offshore banking.

Oh, you could get paid into your home bank account, in fact if you are from the UK that is probably your best option.

Hope that helps :!

Thank you for the advice its a great help

Regards

Baber

Out of interest, does anybody have any idea why the banks are pulling out?

Gib seems a great place for a bank.  Plenty of money in the area, a good stock of locals who need a bank account, great weather (mostly!)...

It seems odd for a bank to have a reason to leave, but from the posts around here, it's like they are all doing so at the same time, which leads me to think there is some regulatory reason or something......

blparker wrote:

It seems odd for a bank to have a reason to leave, but from the posts around here, it's like they are all doing so at the same time, which leads me to think there is some regulatory reason or something......

I don't think it's regulatory,

Barclays are closing down a lot of their overseas operations ( they need to save money to pay higher bonuses.    )

N&P were taken over by Yorkshire bank and this is their only overseas branch.

There are other banks like Jyske but their charges are astronomical especially to the small player.

We are  waiting to see what the new GIB Bank offers in October , but in the mean time it is a problem

Grumpy