Ancoria Bank Cyprus

Ancoria has accounts for everyday banking, easy-access savings, and for money you can leave in place for a fixed period. The standard Current Account can be held in EUR, GBP or USD, while students and children have their own account options.

Available products include:

• •Current Account
• •Student Current Account
• •General Savings Account
• •Children’s Savings Account
• •Personal Fixed Term Deposit Account
• •Business Fixed Term Deposit Account

The General Savings Account has no minimum opening deposit. Fixed Term Deposits start from €500, run for three to 24 months, and can be opened through myAncoria, although early withdrawal comes with a charge.

Ancoria works with companies and self-employed customers, and their Business Current Account covers all areas of regular company banking. You can receive payments, run payroll, pay bills and suppliers, and set up standing orders or direct debits.

Business products include:

• •Business Current Account
• •myBusiness Visa Debit Card
• •Business Fixed Term Deposit Account
• •Business Loan
• •Business Mortgage
• •Full Cash Collateral Loan
• •New Car Loan
• •Used Car Loan
• •Trade services

The account can also include a company chequebook, debit card and overdraft. Overdraft limits and other credit facilities are approved separately based on the company’s finances and borrowing needs.

Ancoria issues three Visa debit cards, depending on whether you are a student, personal customer or business customer. All three support contactless payments and can be managed through myAncoria app. Apple Pay and Google Pay are also supported.

Available cards include:

• •myFirst for students aged 17+
• •myPersonal for individual customers
• •myBusiness for companies and legal entities

myPersonal and myBusiness include ten free withdrawals each month from other banks’ Visa ATMs in Cyprus.

You can borrow for a home, education, car, or another personal expense. Ancoria also offers loans for selected energy-saving home improvements and lower-emission vehicles.

Personal borrowing options include:

• •First Residence Loan
• •Housing Loan Transfer
• •Holiday Home Loan
• •Investment Home Loan
• •Personal Loan
• •Student Loan
• •Full Cash Collateral Loan
• •New Car Loan
• •Used Car Loan
• •Eco Home Improvement Loan
• •Eco Electric Car Loan
• •Eco Hybrid Car Loan
• •myLo@n
• •myOverdr@ft

You can apply for myLo@n and myOverdr@ft through myAncoria and sign the agreement electronically, if approved. For the other loan products, the interest structure and repayment terms vary by product, with fixed or variable rates available depending on what you apply for.

If your company needs financing, Ancoria has separate options for property, vehicles, working capital, and general business expenses. It also handles trade documents and guarantees for companies buying or selling locally or abroad.

Available business finance and trade services include:

• •Business Loan
• •Business Mortgage
• •Full Cash Collateral Loan
• •New Car Loan
• •Used Car Loan
• •Overdraft facilities
• •Letters of credit
• •Bills for collection
• •Letters of guarantee

The amount you can borrow, the interest rate, and any security requirements are decided as part of the application. For trade transactions, it can issue or advise on guarantees and letters of credit and handle import and export documents.

Ancoria supports local and international transfers, instant euro payments, recurring payments and day-to-day bills. Business customers can also use the same payment system for payroll and supplier payments.

Available payment services include:

• •Transfers between Ancoria accounts
• •Standard SEPA transfers
• •SEPA Instant payments
• •SWIFT transfers
• •Standing orders
• •Direct debits
• •Payroll payments
• •Bill payments

Transfers between your own Ancoria accounts are free, and digital payments generally cost less than sending the same transaction through a Banking Centre.