Overview
Bank of Cyprus, at a glance.
Bank of Cyprus is a bank headquartered in Cyprus, regulated by Central Bank of Cyprus, CySEC. Business accounts cost from €2 a month. Opening an account takes 3–5 days.
Bank of Cyprus Public Company Limited is a licensed bank in Cyprus. Eligible deposits are covered up to €100,000 by the Cyprus deposit guarantee scheme.
Why businesses pick Bank of Cyprus
- Cyprus's largest bank, with deposits covered up to €100,000
- Accounts in euro, US dollars or pounds
- Opened online through 1bank, with a bank officer in touch within three working days
- Free SEPA payments up to €1,000 in 1bank; SEPA Instant at no extra cost
- Visa and Mastercard business debit and credit cards
- Trade finance, shipping and FX services for larger companies
Watch out for
- Only for companies and partnerships registered in Cyprus
- A company representative must visit a branch to finish opening the account
- Currency conversion costs 0.40%, at least €5
- SEPA payments over €1,000 cost €3 to €6; larger and non-SEPA payments cost 0.15% plus €10
- Crypto-asset businesses, online pharmacies, binary options, dating, adult entertainment and unregulated gambling or payment firms are not accepted
- Trustpilot score of 1.7 from 95 reviews
Business fit
Will Bank of Cyprus accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on Bank of Cyprus's published rules
Likely no
Bank of Cyprus does not list United Kingdom among the countries where it accepts companies.
Bank of Cyprus does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What Bank of Cyprus publishes about the businesses it takes on.
Who Bank of Cyprus serves
- Startups and SMEs
- Professional services
- Import and export
- Holding companies
Not supported
Industries and countries Bank of Cyprus does not accept, from its own published lists.
Industries
- Crypto-asset and virtual-asset service providers
- Online gambling not regulated in an approved country
- Payment institutions, e-money institutions and money service businesses not regulated in an approved country
- Casinos, betting and prize competitions not regulated in an approved country
- Financial services, brokerage, banking or insurance not regulated in an approved country
- Online pharmacies
- Binary options trading
- Dating services
- Adult entertainment
- Fortune telling
- Crowdfunding services not regulated in an approved country
- Precious metals and stones, and pawn shops
- Weapons, defence and military industry
- Nuclear-related materials
- Complex structures without a clear economic reason
- Illegal activities, sanctioned activity and terrorism
Countries
- Not published
Coverage
Where can you use Bank of Cyprus?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
EUR, USD and GBP
- EUR
- USD
- GBP
Payment reach
Not published
Who can apply
Company incorporation countries1 countries · show list
- Cyprus
Owner nationality
Not publishedOwner residency
Not publishedCompany types
Private companies, Public companies, Partnerships
Pricing
What does Bank of Cyprus cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
Not published
Monthly fee
€2–33.333333333333336
depends on plan
Small business, no overdraft
Lowest cost€2 per month
Setup fee not published
Small-medium and large business, no overdraft
€33.333 per month
Setup fee not published
Transaction fees
| Cost | Listed amount | How it is charged |
|---|---|---|
| Outgoing | ||
| SEPA | Free | No charge · Up to €1,000 in 1bank; €3 up to €5,000 and €6 up to €50,000 |
| SEPA Instant | Free | No charge · Same charge as an ordinary SEPA payment |
| SWIFT / international | 0.15%, min €5 | Percentage, with a minimum charge · In euro through 1bank, at most €250, plus €10 processing; 0.20% plus €25 at a branch or in another currency |
Other fees
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | 0.4%, min €5 | Percentage, with a minimum charge · On every conversion, at most €400 |
Cards
| Cost | Listed amount | How it is charged |
|---|---|---|
| Physical card issue | €25 | Fixed fee · A year, euro Business Debit Visa or Mastercard Business; $30 in US dollars, £20 in pounds |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Apply
Start the application online or through the sales team.
- 2
Company and people
Give the company's registration details, directors and owners.
- 3
Checks
Upload the documents requested and complete identity verification.
- 4
Account live
Once approved, the account is opened and you receive its details.
Documents you need
Not published
FAQ
Your questions, answered.
Is Bank of Cyprus a bank?
Yes. Bank of Cyprus Public Company Limited is a licensed bank in Cyprus, supervised by the Central Bank of Cyprus within the European banking supervision system. Eligible deposits are covered up to €100,000.
How much does a Bank of Cyprus business account cost?
A small business without an overdraft pays €6 a quarter per account; small-medium and large businesses pay €100 a quarter. SEPA payments up to €1,000 are free in 1bank, and currency conversion costs 0.40%.
Who can open a Business Sight Account?
Private companies, public companies and partnerships registered in Cyprus. The application is made online through 1bank, every director approves it digitally and a company representative visits a branch.
Which businesses does Bank of Cyprus not accept?
Its customer acceptance policy lists crypto-asset service providers, online pharmacies, binary options, dating, adult entertainment, weapons and defence, and gambling, payment and financial firms not regulated in an approved country, among others.
Alternatives
How Bank of Cyprus compares.
If Bank of Cyprus is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 Bank of CyprusThis pageBank |  | Business accountDeposit protection |
 Eurobank CyprusBank |    | Cypriot IBANCorporate banking |
 Revolut BusinessBank |   | Cards and spend controlsStartups and SMEs |
 Wise BusinessE-money institution |  | Low FX costsStandard businesses |
 ISX FinancialE-money institution | | Corporate accountsFintech infrastructure |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.