Cyprus Development Bank

Cyprus Development Bank offers current accounts for everyday banking and a few accounts meant to hold money for a fixed term or with limited withdrawal access.

Available products include:

• •Personal Current Account
• •Business Current Account
• •International Current Account
• •Overdraft Account
• •cdbsaver Weekly
• •cdbsaver Monthly
• •Notice Accounts
• •Standard Fixed-term Deposits
• •Broken Days Deposits
• •Special Deposit Products

Current accounts are available in euros and major foreign currencies. Depending on the account, you can add a debit card, chequebook, eBanking and an overdraft.

The cdbsaver accounts calculate interest using your daily cleared balance. The Weekly account allows regular withdrawals on the first business day of each week, while the Monthly account provides access on the first business day of each month.

Cyprus Development Bank works with entrepreneurs, SMEs, larger companies and institutional customers. You can use it for everyday company banking, then add financing, POS services or trade finance if your business needs them.

Business products and services include:

• •Business Current Account
• •Overdraft Account
• •Payroll payments
• •Mastercard Platinum Business Debit
• •JCC merchant and POS services
• •Fixed and notice deposits
• •Medium and long-term business finance
• •Business premises finance
• •Start-up finance
• •Green-energy finance
• •Trade finance
• •Treasury services

The Business Current Account can handle incoming customer payments, payroll, supplier payments, and other company expenses. If you accept card payments, you can also connect JCC POS terminals to a current or overdraft account.

cdbbank issues Mastercard debit cards for personal and business customers. Individuals can choose between Classic and Platinum, while the business card is available as a Platinum Mastercard.

Available cards include:

• •Mastercard Classic Debit for individuals
• •Mastercard Platinum Debit for individuals
• •Mastercard Platinum Debit for businesses

Euro cash withdrawals are free at cdbbank ATMs and other banks’ ATMs in Cyprus and the eurozone. Withdrawals in another currency and card payments involving currency conversion come with additional charges.

You can make euro and international payments through cdbbank, including instant SEPA transfers and recurring direct debits. The bank also has treasury services for customers who receive, hold, or pay money in different currencies.

Available services include:

• •Internal Transfers
• •SEPA Direct Debits
• •SEPA Instant Transfers
• •Transfers to Local Banks
• •International Transfers
• •Foreign Exchange Trading
• •Forward Exchange Contracts
• •Market Risk Solutions

Forward Exchange Contracts let you agree a fixed exchange rate for a future period rather than using the exchange rate available when the payment eventually takes place. Treasury services are available to personal, corporate and international banking customers.

Cyprus Development Bank provides financing for working capital, property, equipment, business projects, startups and green-energy installations. Companies can also apply for overdrafts when they need short-term access to extra funds.

Available business-finance options include:

• •Medium and long-term business finance
• •Overdraft facilities
• •Business premises loans
• •Green-energy finance
• •Start-up finance
• •Loans to business individuals
• •Project-related finance

The rate, repayment period and security requirements are decided as part of the application. For an overdraft, the bank considers the company’s finances, expected account turnover, available security and the size of the limit requested.

If your company trades locally or internationally, cdbbank can handle guarantees, documentary credits, and bills for collection. Businesses that take card payments can also connect JCC POS terminals directly to a cdbbank current or overdraft account.

Available services include:

• •Bank Guarantees
• •Documentary Credits
• •Bills for Collection
• •JCC Merchant Services

You can connect different POS terminals to different accounts, and the card transactions appear through cdbbank eBanking. Money received through the linked POS is then available through the connected cdbbank account.

cdbbank also provides investment and corporate-finance services through its subsidiary, cdbGlobalCapital. These include custody work as well as advice for companies raising or restructuring capital.

Services include:

• •Custody Services
• •Depositary Services
• •Corporate Finance Consultancy
• •Capital Raising
• •Mergers and Acquisitions
• •Company Valuations and Capital Structuring

Its custody and depositary work includes safekeeping, cash monitoring, and oversight for investment funds. Consultancy services include project finance, loan syndication, private equity, mergers and acquisitions, company valuations, and the structuring of financial instruments.

You can manage your accounts through cdbbank eBanking without visiting a business centre. The service covers the main day-to-day tasks, including payments, transfers, and account documents.

Through eBanking, you can:

• •Check account balances and transactions
• •Make payments
• •Transfer money
• •Retrieve electronic statements

Transactions use two-factor authentication and can be approved with either a mobile soft token or a physical hard token. The mobile token is only used for security, so regular account management still takes place through the web-based eBanking service.