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Alpha Bank CyprusAlpha 500
- Euro business current account
- Alpha e-Banking
- Business Mastercard available
- Optional overdraft
Estimated annual cost
€144/year for small business
€320 per year for small-medium, and large businesses
Compare Business Bank Accounts in Cyprus
The right business account should make running your company easier. High fees, payment limits, slow transfers, and weak account controls only become more frustrating as your business grows. The right bank can make it easier to pay employees and suppliers on time, collect money from customers, manage different currencies, give your team controlled access, and keep day-to-day payments moving without unnecessary admin work.
Compare business bank accounts available in Cyprus to find a perfect match for how you run your business.
Compare Business Accounts
Compare the main features and recurring costs of available business accounts. The figures below do not include every transfer, cash, foreign-exchange, card or compliance-related charge, so use them as a starting point and check the provider’s current tariff for the transactions your business makes.
View provider
Bank of CyprusBusiness Sight Account
- EUR, USD or GBP
- 1bank and mobile app access
- Business debit card available
- Deposits and withdrawals without notice
Estimated annual cost
€24/year for small business
€400 per year for small-medium, and large businesses
EurobankBusiness Current Account
- Multiple currencies
- Online and mobile banking
- Business team debit cards
- Optional overdraft and chequebook
Estimated annual cost
€108/year for small business
€180/year for small-medium, and large businesses
Ancoria BankBusiness Current Account
- Payroll and bill payments
- Visa debit card available
- myAncoria digital banking
- Optional overdraft
Estimated annual cost
€60/year
Applies to a Cyprus-resident company or self-employed customer without an overdraft.
NBG CyprusSight Account in Euro or Foreign Currency
- Euro or foreign currencies
- NBG Business digital banking
- Business Mastercard available
- Chequebook included
Estimated annual cost
Business-account maintenance fee not clearly published.
cdb BankBusiness Current Account
- Euro and foreign currencies
- Business debit card available
- eBanking access
- Optional overdraft
Estimated annual cost
€120/year
€10/month equivalent
Applies to a domestic legal entity without an overdraft.
Société Générale CyprusBusiness Current Account
- EUR, USD and other currencies
- eSGBCy online banking
- Debit card and chequebook
- Multi-user authorisation
Estimated annual cost
€360/year
RevolutBusiness Basic
- 30+ supported currencies
- 10 free local transfers monthly
- Physical and virtual team cards
- Web and mobile account access
Estimated annual cost
€120/year
WiseWise Business
- Hold more than 40 currencies
- Local account details available
- Business debit card available
- Batch payments and team access
Estimated annual cost
Free
Card ordering, replacement, ATM and other card-related fees may apply separately.
Basics
What Is a Business Bank Account?
A business bank account is an account opened for commercial activity rather than personal use. Depending on the provider and the business, it can support incoming customer payments, payroll, supplier payments, cards for employees, cash handling, international transfers and access for multiple authorised users.
How it functions on a day-to-day basis varies quite a bit. A freelancer will have different needs than a company with 10 employees.
You can find these Cyprus business accounts under different names, such as business current, corporate, professional, and sight accounts. The name usually provides a hint as to who the product is designed for. Some business accounts focus on sole traders and small companies, while others are better equipped for larger businesses with a wider set of requirements.
That means the best place to start is eligibility. After that, you can compare accounts by costs, features, and business merit.
Looking for an account for personal income and spending?
What to compare
What To Consider When Comparing Business Accounts in Cyprus
You only need to make the right choice once. If you get it wrong, changing accounts later can mean moving payments, cards, payroll, and user access to a different bank. Consider eligibility, fees, payment options, user access, currency support, and future banking needs when comparing accounts to reduce the risk of making the wrong choice.
Eligibility
Banks can’t serve every company. Eligibility can depend on legal structure, registration, ownership, industry, tax residence and where the business trades. Compare only the accounts your company can realistically open.
Fees
Business tariffs can vary by company size, customer type and the services included. Two accounts from the same bank can have very different costs once transfer fees, cash deposits, card charges, international payments and monthly account fees are included. Compare the tariff your business will fall under and the charges tied to the transactions you expect to make most often.
Payments
Payroll, supplier payments, direct debits, cash deposits and other routine transactions should work without unnecessary branch visits or extra fees. You should pay attention to transfer limits, batch payments, cut-off times and which transactions can be completed fully online, especially if the account will handle frequent or high-value payments.
User Access
Businesses with several directors or employees need multiple users, approval levels and individual card limits. The account should support the way financial responsibility is already divided in your company.
Currencies
If your business gets paid or pays suppliers in other currencies, compare how accounts handle those transactions. You should be able to receive money in the original currency, keep it there until needed, know which exchange rate or markup applies when you convert it, and what it costs to send it abroad.
Additional Services
If you expect to need an overdraft, business loan, card processing, foreign exchange or trade finance, include those services in the comparison. Availability, lending criteria and pricing can vary widely between banks, and keeping more of your business banking with one provider can make those services easier to manage later.
Opening a Business Bank Account in Cyprus
Every bank has its own onboarding process, and requirements are different depending on the company structure, industry, and where the business trades. But generally, in Cyprus, banks will want information that verifies the company, identifies the people who control it, and understands how money is expected to move through the account.
Common requirements include:
- Incorporation documents and registered-office details
- Records for directors, shareholders and beneficial owners
- ID and proof of address for relevant individuals
- Tax-residency and tax-identification details
- Financial statements, management accounts or a business plan
- Expected turnover, main countries of activity and typical payment flows
- Source-of-funds or source-of-wealth evidence where required
New companies may not have financial statements yet. In that case, banks can ask for contracts, invoices, forecasts, licences or other evidence that supports the planned business activity.
Some banks allow the application to begin online, but onboarding may still involve certified documents, director signatures or a branch meeting. Companies with foreign owners, several layers of ownership or activity across multiple countries can also face additional checks.
Separation
Should You Keep Business and Personal Money Separate?
Yes. A dedicated business account makes your finances easier to manage and keeps business activity clearly separated from personal spending.
Easier Bookkeeping
Business income, expenses, and payments are easier to organise and reconcile.
Clearer Finances
Personal spending can’t obscure how much money the business is bringing in or has available.
Stronger Separation
For limited companies, a dedicated account reinforces the legal separation between the business and its owners.
Fewer Account Restrictions
Business activity is less likely to conflict with terms that limit commercial use of personal accounts.
Providers
Local Bank, Digital Provider or a Combination?
A Cyprus bank should be a go-to if your business needs branch and cash access, cheque services, and local support. You also might need access to lending or trade finance, or a relationship manager who understands your company. Keeping the main account, financing and other banking services together also makes them easier to manage.
A digital provider may be all a one-person company or small service business needs to get paid by clients, cover expenses and handle different currencies. You will get less support for cash, lending and other traditional banking services.
Some businesses use both: a Cyprus business account for local payments, cash, finance and tax, then a digital account for selected currencies or team expenses. That can work well when each account has a purpose. But it can also duplicate fees and paperwork, so make sure that benefits outweigh the additional work.
Business Banking Guides
Learn more about opening, using, and comparing accounts for a business in Cyprus.