Société Générale Bank Cyprus

SGBCy has current and savings accounts for adults, along with separate products for children and teenagers. If you are saving for longer, you can also choose between fixed deposits and notice accounts, depending on when you expect to need the money.

The Current Account is available in euros, US dollars, and other supported currencies. The Saving Account is available in EUR, USD, and GBP and allows deposits and withdrawals without a fixed term.

Available options include:

• •Individual Current Account
• •Business Current Account
• •Saving Account
• •Fixed Deposit Account
• •Time Deposit Account
• •Notice Account
• •EuroKid Saving Account
• •EuroTeen package

Fixed and time deposits run for a set period. With a Notice Account, you can take money out earlier, but you need to notify the bank first. Children and teenagers have their own products through EuroKid and EuroTeen.

Société Générale Bank Cyprus works with small enterprises, medium and large companies, and businesses with international activity. You can use the bank for company accounts, payroll and supplier payments, then add borrowing, foreign exchange or trade services as the business grows or starts dealing with more complex transactions.

If your company sends a lot of payments, you can upload beneficiaries and payment files in bulk instead of entering them one by one.

Business services include:

• •Business Current Account
• •Business debit and credit cards
• •Payroll and bulk payments
• •Overdrafts
• •Working-capital finance
• •Receivables and inventory finance
• •Business and project loans
• •Foreign exchange
• •Letters of credit
• •Letters of guarantee
• •Documentary collections
• •Import and export finance

Borrowing is subject to approval. The rate, repayment period, and any security SGBCy requires will depend on your company and the purpose of the borrowing.

SGBCy has Visa debit, credit and charge cards for personal customers, plus separate debit and credit cards for businesses.

Available cards include:

• •Visa Platinum Debit
• •Visa Business Debit
• •Visa Gold Credit
• •Visa Business Credit
• •Visa Gold Charge

Debit-card withdrawals are free at SGBCy ATMs. Using another bank’s ATM costs €1 in Cyprus and €3 abroad, while card transactions in currencies other than euros or Swedish kronor carry a 3% conversion fee.

For personal borrowing, you can apply for an overdraft, personal loan or mortgage. Businesses can borrow for shorter-term cash needs, stock and unpaid invoices, as well as larger investments and projects. Société Générale Bank Cyprus also participates in arrangements where a major loan is shared with other lenders.

Available finance includes:

• •Personal loans
• •Individual overdrafts
• •Mortgage loans
• •Business overdrafts
• •Working-capital facilities
• •Receivables finance
• •Inventory finance
• •Business loans
• •Project finance
• •Loan syndication
• •Co-financing

SGBCy does not publish one standard rate for every loan, and the final cost can also include arrangement and documentation fees. Ask for the full cost and repayment schedule when comparing an offer.

SGBCy Digital Banking is available through both the website and mobile app, so you can check your accounts, make payments, and manage transfers online. It supports both euro payments and international transfers.

Corporate customers can upload beneficiaries and payments in bulk instead of adding every transaction manually.

Through digital banking, you can:

• •Check accounts and transactions
• •Download transaction history
• •Transfer money between your accounts
• •Send SEPA and SEPA Instant payments
• •Make SWIFT transfers
• •Add beneficiaries
• •Track transfer details
• •Order a chequebook
• •Arrange cash for collection at a branch
• •Book an appointment with an account manager
• •Upload bulk beneficiaries and payments as a corporate customer

The digital-banking subscription is free, and an online payment generally costs less than arranging the same transaction manually.

If your company buys or sells abroad, Société Générale Bank can handle the payments, guarantees, and trade documents that go with those transactions.

Letters of credit and documentary collections can be used to control when payment is made, while guarantees give the other party extra protection if an obligation is not met. You can also arrange import or export finance and exchange one currency for another.

Available services include:

• •Import and export letters of credit
• •Documentary collections
• •Direct collections
• •Letters of guarantee
• •Import finance
• •Export finance
• •Bill discounting
• •Documentary-credit confirmation
• •Foreign-exchange transactions
• •Forward-exchange contracts

The cost depends on the transaction. You may pay handling, payment, amendment, and SWIFT fees, along with percentage-based commissions.

Société Générale Bank Cyprus branches are for cash and cheque transactions, account requests, and safe deposit boxes. Safe deposit boxes come in three sizes. Your annual rental includes two visits, and you pay separately after that.

Available branch services include:

• •Small safe deposit boxes
• •Medium safe deposit boxes
• •Large safe deposit boxes
• •Cash deposits and withdrawals
• •Cheque deposits
• •Utility-bill payments
• •In-person account requests

Safe deposit box rent starts from €125 plus VAT per year. The first two visits each year are included, with additional visits charged at €15 plus VAT.