Banks

National Bank of Greece Cyprus

National Bank of Greece Cyprus is one of the smaller banks on the island, with just two branches in Nicosia and Limassol. It works with both individuals and businesses. The bank has a strong business offering that covers payments, POS, trade finance, and larger financing needs. Personal accounts are available too, although the retail side is a little limited.

Bank features

  • Two central branches
  • Internet and mobile banking
  • Personal and business accounts
  • Free NBG and JCC ATM withdrawals

Overview

A Look at National Bank of Greece in Cyprus

National Bank of Greece has operated in Cyprus since 1910, with the local business becoming a separate legal entity in 1994. Today, National Bank of Greece Cyprus Ltd employs more than 140 people and has two central branches, one in Nicosia and one in Limassol.

That is not much of a branch network, especially if you live outside those two cities, but the service offering is not small.

If you need personal banking, you can find current accounts, savings, deposits and cards. But if you have a business, you get access to a broader selection of day-to-day accounts, payments, payroll, POS services, working-capital finance, project funding and trade finance.

They also let you manage many regular transactions through Internet Banking and NBG Mobile Banking, so you really don’t need a branch that often. Still, if you regularly deposit cash, use counter services or prefer speaking to someone in person, those location limitations are worth paying attention to.

Products and services

National Bank of Greece Cyprus Products and Services

National Bank of Greece offers everyday banking in Cyprus, alongside lending, payments and more specialised services. Some products have clear standard fees, while others are priced around the customer, the amount involved, and the type of service required.

Accounts and Deposits

You can use NBG Cyprus for everyday accounts, savings and deposits in both euros and selected foreign currencies. Notice and fixed-term deposits are also available.

Available options include:

  • Current Account With Limit in Euro
  • Current Account Without Limit in Euro
  • Current Account Without Limit in Foreign Currency
  • Basic Payment Account
  • Savings Account in Euro
  • Savings Account in Foreign Currency
  • Notice accounts
  • Euro time deposits
  • Foreign-currency time deposits

The Current Account Without Limit in Euro comes without an arranged overdraft but can include a debit card, chequebook, direct debits and standing orders. Notice and time deposits give you long-term options with periods ranging from eight days to 12 months.

NBG does not publish every fixed-deposit rate online, so you may need to ask the bank what it can offer for your amount and preferred term.

Business Banking

NBG gives companies a lot under one banking relationship. Along with the usual account and payment functions, businesses can add payroll, cards, cash management, deposits, and add financing or trade services where needed.

Business products and services include:

  • Sight accounts in euros and foreign currencies
  • Business savings and notice accounts
  • Euro and foreign-currency time deposits
  • Payroll services
  • Debit Mastercard Business
  • Payments and collections
  • Standing orders
  • POS card acceptance
  • Cheques and postdated-cheque discounting
  • Internet and mobile banking
  • Liquidity-management services

The Sight Account handles most regular company banking, including incoming payments, suppliers, payroll and general expenses. Larger businesses can also give several users access and set approval rules so one person prepares a transaction and another approves it.

Cards

NBG Cyprus offers debit and credit cards for personal customers, plus a separate business debit card with controls for company spending.

The cards it offers:

  • Debit Mastercard
  • Mastercard Credit
  • Mastercard Gold Credit
  • Debit Mastercard Business

The standard Debit Mastercard works in Cyprus, abroad, and online, with contactless payments and 3D Secure approval through the NBG CY 3DS app.

For businesses, the Debit Mastercard Business can be issued to company executives with different spending permissions. You can restrict a card to certain transaction categories, such as fuel or food, instead of giving every user the same access.

Digital Banking

You can do a lot of your banking through NBG Internet Banking and Mobile Banking. Personal customers get the usual account and payment tools, while business users can also manage connected companies, permissions, and approvals.

Depending on your account and access level, you can:

  • View account balances and transactions
  • Make transfers and remittances
  • Pay bills
  • Monitor card activity
  • Receive account alerts
  • Submit and approve payments
  • View products held by connected businesses
  • Manage transactions from a phone, tablet or computer

Business users can have different permissions, and companies can require two people to approve a transaction before it goes through. NBG authorises transactions with one-time passwords or push notifications through the mobile app.

Payments, Collections and POS Services

For businesses, NBG handles money coming in as well as payments going out. You can pay suppliers and staff, collect customer payments and take card payments through POS terminals, with both standard and instant euro transfers available.

Payment and collection services include:

  • Local and international transfers
  • Standing orders
  • Payroll payments
  • SEPA payments
  • SEPA Instant payments
  • Incoming collections
  • POS card acceptance

SEPA Instant runs outside normal banking hours, so eligible euro payments do not have to wait for the next business day. Companies can also set different user permissions and approval steps around payments.

Business Financing

NBG has different financing routes depending on what your company is paying for. Working-capital facilities can cover shorter-term cash needs, while investment and project finance are aimed at larger purchases, expansion and longer-term plans.

Available financing includes:

  • Working-capital finance
  • Investment-plan financing
  • Project finance
  • International finance
  • Structured financing
  • Syndicated loans

There is no standard rate or borrowing limit across the range. NBG looks at the company, the purpose of the financing, repayment capacity, and any security before making an offer.

Trade Finance and International Markets

If your company has overseas suppliers or customers, NBG can handle the banking around those transactions as well as the currency and financing involved. That includes trade documents, guarantees, foreign exchange, and tools for managing exposure to interest rates and commodity prices.

Available services include:

  • Import and export payments
  • Letters of credit
  • Letters of guarantee
  • Standby letters of credit
  • Trade-credit facilities
  • International remittances
  • Foreign-exchange services
  • Structured finance
  • Interest-rate risk management
  • Commodity and energy-market products

Businesses can also use the NBG Group Trade Finance platform for selected import and export transactions.

Pros and cons

National Bank of Greece Cyprus Pros and Cons

National Bank of Greece Cyprus has a smaller physical network than some of the island’s other banks, but its business services are much broader, particularly for companies that need financing, payments, or trade support.

Pros

  • New individual and company customers can complete the onboarding application and upload their documents online without going to a branch.
  • Internet and mobile banking are available for individuals and businesses, while business users can also manage transaction approvals through the app.
  • Customers can use the wider JCC ATM network for cash withdrawals without an NBG withdrawal fee, which partly makes up for the small branch network.
  • Business customers can access POS services, payment and collection tools, trade finance, import-export services and project financing alongside standard accounts and loans.
  • Businesses can use SEPA Instant payments and access NBG Group’s online trade-finance platform for import and export transactions.
  • NBG Cyprus works with personal, business and international customers and has been operating in Cyprus since 1910, backed by the wider National Bank of Greece Group.

Cons

  • NBG has only two central branches, in Nicosia and Limassol, with no branches in Larnaca, Paphos or Famagusta.
  • Branches open only on weekdays, until 14:30 Monday to Thursday and 14:00 on Friday.
  • NBG’s own ATM network is small, so customers outside its main locations depend heavily on the wider JCC network for cash access.
  • NBG's primary focus in Cyprus is business customers. Individuals are still served, but many of the bank’s more specialised services and digital tools are made for corporate and business banking.
  • With only two branches and a business-first service model, NBG has fewer face-to-face options if you need regular personal banking support outside Nicosia or Limassol.
  • The Digital Banking helpdesk publishes weekday hours only, from 07:35 to 21:35, with no Saturday or Sunday support hours listed.

Personal Current Account Without Limit in Euro

The Current Account Without Limit in Euro is made for your everyday money. You can use it to receive income, pay bills, make transfers, withdraw cash and set up standing orders or direct debits.

“Without limit” means the account does not come with an arranged overdraft, so you normally spend only the money available in it. You can still add a Debit Mastercard, request a chequebook and manage the account through NBG Internet and Mobile Banking. An unarranged negative balance can still lead to interest and other charges.

Current Account Without Limit in Euro Features

Current Account Without Limit in Euro Features
FeatureCurrent Account details
CustomerIndividuals
Account typeCurrent account, no overdraft
CurrencyEUR
Debit cardDebit Mastercard
Online bankingNBG Internet Banking
Mobile appNBG Mobile Banking
TransfersSEPA, non-SEPA
Standing ordersAvailable
Direct debitsAvailable
ChequebookAvailable
OverdraftNot available
Online applicationAvailable

Current Account Without Limit in Euro Costs and Fees

Current Account Without Limit in Euro Costs and Fees
CostCharge
Maintenance€8/quarter
Debit Mastercard€5/year
NBG/JCC ATMFree
Other ATM, EUR€2.50
Other ATM, other currency3.33%, min €4.20
FX card payment3%
Chequebook€20 branch; €16 online
Direct debitFree
Returned cheque€35

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Business Sight Account in Euro or Foreign Currency

The NBG Sight Account gives your business access to its money for everyday payments and collections. You can use it for customer payments, pay suppliers, run payroll, and cover everyday expenses from the same account.

It is available in euros and selected foreign currencies, and NBG includes a chequebook. You can also issue Debit Mastercard Business cards to employees or executives who need access to company money.

And, if you have a larger team, you’ll appreciate the digital features. You can give different people access to the account, limit what they can do, and require another user to approve payments before they go through.

Sight Account Features

Sight Account Features
FeatureSight Account details
CustomerBusinesses, legal entities, professionals
CurrenciesEUR, supported foreign currencies
AccessAnytime
ChequebookIncluded
Debit cardDebit Mastercard Business
Online bankingNBG Business Internet Banking
Mobile appNBG Business Mobile Banking
PaymentsLocal and international
PayrollAvailable
User accessMultiple users, approval controls
Standing ordersAvailable
OpeningOnline application available

Sight Account Costs and Fees

Sight Account Costs and Fees
CostPublished charge
Professional account maintenanceNot clearly stated
Main business debit cardFree
Supplementary card€20/year
NBG/JCC ATMFree
Other ATM, EUR€2.50
Other ATM, other currency3.33%, min €4.20
FX card payment3%
Card/PIN replacement€10

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Savings Account in Euro

The Savings Account in Euro lets you keep savings separate from your everyday account, with no notice period for withdrawals. You can add or withdraw money without a notice period, manage the account through NBG digital banking, and request a Debit Mastercard.

The account does not include a chequebook or overdraft, and NBG currently publishes a 0% interest rate. You can also use it for SEPA and non-SEPA transfers, standing orders and direct debits.

Savings Account in Euro Features

Savings Account in Euro Features
FeatureSavings Account details
CustomerIndividuals
CurrencyEUR
Opening depositNo minimum published
AccessAnytime
Interest0%
Debit cardDebit Mastercard
Online bankingNBG Internet Banking
Mobile appNBG Mobile Banking
ATM accessWith linked debit card
TransfersSEPA, non-SEPA
Standing ordersAvailable
Direct debitsAvailable
ChequebookNot available
OverdraftNot available

Savings Account in Euro Costs and Fees

Savings Account in Euro Costs and Fees
CostCharge
Maintenance€3/quarter
Debit Mastercard€5/year
NBG/JCC ATMFree
Other ATM, EUR€2.50
Other ATM, other currency3.33%, min €4.20
FX card payment3%
Paper statement copy€3-€30

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Opening an account

How to Open an NBG Cyprus Account?

You can submit a new-customer application through the NBG Cyprus website without starting with a branch visit.

You need to input your personal or company details, tax information, address, financial profile, and expected account activity. After that, upload the documents the bank requests.

For a personal application, you should be ready to provide:

  • A Cyprus identity card or passport
  • A utility bill, tax bill, or bank statement issued within the last six months
  • Tax-residency information
  • Employment and income details
  • Information about the expected use of the account
  • Source-of-funds evidence where requested

For a company account, expect additional questions about directors, shareholders, beneficial owners, business activity, and expected transactions. The bank can also request more documents based on the company’s ownership structure or countries of activity.

Submitting everything online does not guarantee approval, but it does start the process. NBG will still review the application and can ask for more information before deciding whether to open the account.

Everyday banking

What Does Banking With NBG Cyprus Look Like?

NBG Cyprus has two main branches, one in Nicosia and one in Limassol, so most customers will not have an NBG branch around the corner. The ATM situation is better than the branch count makes it look, though, because NBG customers can withdraw cash free from the wider JCC ATM network.

You also do not have to start at a branch to become a customer. New personal and business customers can submit their details and documents online, then use NBG Internet and Mobile Banking for most regular account management.

Business customers get a few extra controls online, including separate user access and transaction approvals. That means one person can prepare a payment while another approves it before the money leaves the account.

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FAQ