Banks

Bank of Cyprus

Founded in 1899, Bank of Cyprus is the country's leading banking and financial services group. You can use it for day-to-day personal or business banking, with separate services for international banking, investments, private banking, and insurance.

Bank features

  • Personal and business banking
  • Online account opening
  • Internet and mobile banking
  • EUR, USD and GBP accounts

Bank Of Cyprus Overview

Bank of Cyprus is one of the biggest banks on the island. It offers accounts for adults and children, several ways to save, home and personal loans, and finance for businesses of different sizes.

Bank of Cyprus has branches across Cyprus, with different locations set up for different types of service. Regular branches handle accounts, counter transactions, loans, and insurance.

Transaction branches focus on cash and everyday requests, lending units deal with borrowing, and digital branches provide self-service machines.

Bank of Cyprus also offers internet banking and the BoC Mobile App. You can use the app to transfer money, pay bills, open selected accounts, manage your cards, and deposit cheques without going to a branch. Eligible new customers can also open their first account there by scanning their ID or passport and completing a selfie check.

LocationNumber
Branch29
Transactions Branch16
Digital Branch5
Lending Unit12
ATMs71

Bank Of Cyprus: Digital Banking

You can bank online with Bank of Cyprus either through Internet Banking on your computer or the BoC Mobile App on your phone. Both are part of 1bank, which is the name Bank of Cyprus uses for its digital banking service, and you use the same login for both.

You can use either one to check your accounts, make transfers and pay bills. The mobile app also gives you a few extra features, including cheque deposits, card controls and QuickLoan applications. You can also send money through QuickPay, Bank of Cyprus's instant person-to-person payment service.

There is also Joey, a separate app made for children and teenagers.

Prefer a fully digital solution?

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Products and services

Bank Of Cyprus Products and Services

Bank of Cyprus separates its services according to what you need. Personal banking covers everyday accounts, savings and borrowing, while businesses have separate products for payments, financing and more complex banking needs. Some services can be opened or managed online, while others depend on eligibility, bank approval or a branch visit.

Accounts and Deposits

Bank of Cyprus has accounts for everyday use alongside a fairly large savings and deposit offering. You can keep your money immediately available, save regularly or place it into an account with notice or a fixed term.

Available options include:

  • QuickAccount
  • Sight Account
  • Payment Account with basic features
  • Savings Account
  • Steady Savings
  • SurPlus Savings
  • Kids Savings Account
  • Notice and e-Notice Accounts
  • Traditional Fixed Deposits
  • Flexi-Fix
  • Monthly Interest Payment Deposit
  • e-Fixed Deposit

QuickAccount is one of the more flexible everyday options. It has no account maintenance fee and can be held in EUR, USD or GBP. Bank of Cyprus also has several savings products with very different access rules. Notice accounts require 8, 35, 90 or 180 days' notice for standard withdrawals, while fixed deposits are intended for money you can leave in place for an agreed period.

Business Banking

Bank of Cyprus works with businesses of all sizes and offers separate banking and financing services for each. Alongside everyday accounts and cards, businesses can use the bank for payroll, bulk payments, working-capital finance, equipment and property funding, trade finance and API-based payment services.

Business services include:

  • Business Sight Account
  • Business Fixed-Term Deposit Account
  • Business debit and credit cards
  • Current Account financing
  • Business loans
  • Business premises finance
  • Hire purchase for cars and equipment
  • Cash-flow management
  • Trade facilities
  • B2B APIs
  • Jinius

Eligible Cyprus-registered companies can request a business account online, although the approval process differs according to the company's structure and directors. Financing is available for working capital, equipment, property and other business purposes, with the amount and security requirements assessed by the bank.

Cards

Bank of Cyprus issues debit and credit cards for individuals and businesses. The range includes standard cards for everyday spending, as well as higher-tier options with added travel, insurance and lifestyle benefits.

Available cards include:

  • Visa Debit
  • Mastercard Debit
  • Visa credit cards
  • Mastercard Classic
  • Aegean Mastercard
  • Elite Mastercard
  • Business Visa Debit
  • Mastercard Business Debit
  • Business credit cards

Most cards support contactless payments and can be added to digital wallets such as Apple Pay and Google Pay. Many also participate in the Bank of Cyprus antamivi rewards scheme.

Loans and Financing

Bank of Cyprus offers many lending options. You can borrow for a home, car, education or general personal expenses, with separate financing available for investment property and environmentally focused purchases.

Personal financing includes:

  • First-home loans
  • Green home loans
  • Holiday-home loans
  • Renovation loans
  • Loans for land
  • Investment-property loans
  • QuickLoans
  • Personal-needs loans
  • Car Hire Purchase
  • Green Car financing
  • Student loans
  • Fleksy Buy Now Pay Later

QuickLoans can be handled almost entirely online. Eligible customers can apply for an unsecured personal loan of up to €15,000 through the BoC Mobile App or Internet Banking and sign the agreement digitally. Larger loans and those that require security usually involve a more detailed application and credit assessment.

Digital Banking

Bank of Cyprus offers both Internet Banking and the BoC Mobile App for day-to-day banking. You can check balances, make transfers, pay bills, manage your cards, open selected accounts and apply for certain products without visiting a branch.

Through digital banking, you can:

  • Make local, SEPA and SWIFT transfers
  • Use QuickPay
  • Pay bills and set up standing orders
  • Open selected e-accounts
  • Apply for a QuickLoan
  • Manage and replace cards
  • Deposit cheques through your phone
  • Buy selected home and motor insurance
  • View accounts held with supported other banks

The app also lets you deposit cheques from your phone, manage standing orders and make local, SEPA and international transfers.

Payments

Bank of Cyprus has separate payment services for personal and business customers, including standard transfers and tools for companies processing payroll or larger batches of payments.

Payment options include:

  • Instant euro payments
  • SEPA transfers
  • SWIFT transfers
  • QuickPay
  • Payroll payments
  • Multiple payment files
  • Utility and JCCsmart payments
  • Tax payments
  • Invoice eSettlement

Most of these payments can be made through Internet Banking or the BoC Mobile App. Businesses can also upload bulk-payment files for payroll and other recurring payments, instead of entering each transaction separately.

International Banking

Bank of Cyprus has a separate international banking division for non-residents and businesses with cross-border activity. These customers are served through 12 International Business Units across Cyprus.

International services include:

  • Instant-access and notice accounts
  • Fixed deposits and e-products
  • Local and international payments
  • Personal and business cards
  • Consumer and housing loans
  • Trade finance
  • Global Markets services
  • International corporate banking
  • Project finance and loan syndication
  • Shipping finance and banking

International account opening is subject to the bank's eligibility and documentation requirements. Some customers need to attend an International Business Unit or apply through a professional intermediary, while eligible individual customers may be able to open an account digitally.

Investments and Wealth Management

Bank of Cyprus offers investment services for individuals, private-banking clients and institutional investors. You can invest in products such as shares, funds and bonds, or use advisory and portfolio-management services if you want professional support with investment decisions.

Investment services cover:

  • Equities and funds
  • Fixed-income investments
  • Foreign exchange
  • Commodities and precious metals
  • Structured products
  • Execution services
  • Investment advisory
  • Discretionary asset management
  • Private and Affluent Banking
  • Institutional wealth and custody services

Private and Affluent Banking customers can work with a dedicated relationship manager for both banking and investments. Investment and asset-management services are also available through CISCO, part of the Bank of Cyprus Group.

Insurance

Insurance is offered through two Bank of Cyprus Group companies. Genikes Insurance covers cars, homes, personal belongings and businesses, while Eurolife offers life, health, income protection and long-term savings plans. Insurance can cover individuals as well as businesses, and some policies can be purchased through Bank of Cyprus digital banking.

Available cover includes:

  • Motor insurance
  • Home insurance
  • Business insurance
  • Life cover
  • Income protection
  • Health insurance
  • Savings and retirement plans
  • Plans for a child's future

Bank of Cyprus customers may also qualify for discounts or other benefits on selected Genikes and Eurolife policies through the bank's loyalty programmes. What is available depends on the policy and your customer tier.

Pros and cons

Bank of Cyprus Pros and Cons

Bank of Cyprus has a good digital setup, a large business-banking range and dedicated services for international customers. At the same time, some products are harder to compare on price, and certain customer groups face more restrictions or higher costs.

Pros

  • The BoC Mobile App supports payments, card management, cheque deposits, selected account openings and QuickLoan applications.
  • Instant euro payments are available through digital banking 24/7, with participating SEPA banks.
  • Business customers have access to financing, trade services, payroll, bulk payments, factoring and B2B APIs.
  • Dedicated international banking services are available for non-residents and companies with cross-border activity.
  • The antamivi scheme gives cardholders rewards at more than 280 participating businesses and 900 locations across Cyprus.
  • Phone banking support is available seven days a week, with longer weekday hours than the physical branches.

Cons

  • Online onboarding is limited to residents of the EU, UK, Israel and Ukraine.
  • Different types of service points offer different services, so your nearest location may not handle every request.
  • Non-residents using International Business Units are subject to a separate, generally higher fee schedule.
  • Bank of Cyprus does not publish the current rate for several fixed deposits online and instead directs customers to ask in branch.
  • Foreign-currency card transactions can carry a 3% administration fee.
  • Standard savings-account maintenance fees can outweigh the interest earned on smaller balances.

Personal QuickAccount

QuickAccount is a digital personal account that can be held in EUR, USD or GBP. It has no maintenance fee and is managed through 1bank, the BoC Mobile App and ATMs, so you do not need to rely on a branch for your everyday banking.

The benefits change depending on your age. Customers aged 18-25 get a free Visa debit card, no Bank of Cyprus charges for worldwide ATM withdrawals and no administration fee on foreign-currency card payments. If you are 26 or over, the Visa debit card is free for the first year only when linked to a euro QuickAccount, and different-currency transactions normally carry a 3% fee.

QuickAccount Features

QuickAccount Features
FeatureQuickAccount details
CustomerIndividuals aged 18+, with 1bank
CurrenciesEUR, USD or GBP
Opening deposit€1 or currency equivalent
WithdrawalsAnytime, without restrictions
Debit cardVisa Debit available
Online banking1bank
Mobile appBoC Mobile App
Online openingAvailable
Ages 18-25Extra card, ATM and FX benefits

QuickAccount Costs and Fees

QuickAccount Costs and Fees
CostCharge
MaintenanceFree
Visa Debit, age 18-25Free
Visa Debit, age 26+First year free for EUR account
Standard Visa Debit€7.50/$25/£15 yearly
Bank of Cyprus ATMFree in Cyprus
Other ATM, EUR/SEK€3; ages 18-25 exempt
Other ATM, other currency3.33%, minimum €5 / $7 / £5
FX card transactions, age 18-25Free
FX card transactions, age 26+3%
Card reissue€10 branch/€5 through 1bank

Not quite what you're looking for?

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Business Sight Account

The Business Sight Account lets a Cyprus-registered company receive payments, cover expenses and keep money available in EUR, USD or GBP. There is no notice period or withdrawal fee, and you can access the account through 1bank and the BoC Mobile App at any time.

Opening it online involves the whole company rather than one applicant. Every director must be registered as a business user and approve the request through 1bank. A debit card can be requested during the application, but this option is currently limited to companies with a single director.

Business Sight Account Features

Business Sight Account Features
FeatureBusiness Sight Account details
CustomerCyprus-registered companies and partnerships
CurrenciesEUR, USD or GBP
DepositsAnytime, without limits
WithdrawalsWithout notice or withdrawal fee
Debit cardAvailable for eligible directors
Online banking1bank
Mobile appBoC Mobile App
Access24/7
Online openingAll directors must approve through 1bank

Business Sight Account Costs and Fees

Business Sight Account Costs and Fees
CostCharge
Small business€6/quarter
SME/large business€100/quarter
Additional account€100
Business debit card€25/$30/£20 yearly
Bank of Cyprus ATMFree in Cyprus
Other ATM, EUR/SEK€3 / $4 / £3
Other ATM, other currency3.33%, minimum charge applies
FX card transactions3%
Branch cash deposit1%, min. €2, max. €10

Not quite what you're looking for?

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Steady Savings Account

Steady Savings is an account for setting aside a set amount every month. You choose a monthly transfer between €30 and €500 from a current or savings account, and the money builds up over a 12-month term.

You can make two withdrawals during the year without notice or a charge. You can also increase, reduce, or skip the monthly deposit twice without losing the account's benefits. A third withdrawal reduces the interest rate, so the account works better for planned saving than for money you expect to use regularly.

Steady Savings Account Features

Steady Savings Account Features
FeatureSteady Savings details
CustomerIndividuals
CurrencyEUR
Initial depositMinimum €30
Monthly deposit€30-€500
FundingAutomatic monthly transfer
Term12 months
RenewalAutomatic
WithdrawalsTwo per term without notice or charge
Deposit changesIncrease, reduce, or skip twice yearly
Interest0.08%, paid at expiry

Steady Savings Account Costs and Fees

Steady Savings Account Costs and Fees
CostCharge
Maintenance, age 26-65€5/quarter
First two withdrawalsFree
Third withdrawalInterest rate reduced
Dormant account€6/quarter after 400 days
Statement copy€5 branch/free through 1bank
Interest or balance certificate€5 branch/free through 1bank

Not quite what you're looking for?

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Bank of Cyprus Rewards and Benefits

Bank of Cyprus has a few rewards programmes. Your access to them depends on the products you use and your relationship with the bank.

Antamivi Rewards Scheme

Most Bank of Cyprus cards automatically participate in the antamivi rewards scheme. You earn points when you pay at participating businesses, with more than 280 businesses and 900 locations across Cyprus currently included in the scheme.

  • 100 points are worth €1
  • Points can be redeemed once you have at least 500, equal to €5
  • Points can be used towards purchases at participating businesses
  • Business cards earn an additional 0.5 point for every €1 spent at participating businesses

Cards issued to minors and cards linked to foreign accounts are excluded from automatic participation. You can check your balance and available rewards through Bank of Cyprus digital banking or the antamivi app.

Pronomia

Pronomia has Silver, Gold and Diamond tiers, with the benefits increasing according to the products and deposits you hold with the bank. Registration is free, but it is not automatic.

Benefits can include:

  • Extra antamivi points on credit-card purchases
  • Lower rates on new housing, personal and car loans
  • No documentation or arrangement fees on new loans
  • Discounts on selected Genikes and Eurolife insurance policies
  • Seasonal offers, vouchers, draws and events

For this one, you need to meet the bank's minimum requirements, including having your monthly income paid into the Bank of Cyprus, holding a BoC card and actively using 1bank. Higher tiers require additional products, larger deposits or certain housing loans.

PrivilEDGE

PrivilEDGE is Bank of Cyprus's invitation-only programme for selected Private and Affluent Banking customers. Members get a dedicated account manager and additional banking, investment and lifestyle benefits.

Benefits include:

  • A PrivilEDGE Visa Infinite credit card
  • 3x antamivi points at participating businesses
  • Preferential banking and investment pricing
  • Discounts on selected insurance and REMU properties
  • Airport-lounge access and travel benefits through the PrivilEDGE card
  • Access to selected events and lifestyle offers

PrivilEDGE membership is by invitation and is aimed at customers who already have an investment relationship with Bank of Cyprus Private and Affluent Banking.

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