Compare Current Bank Accounts in Cyprus

Revolut — Standard

◦ Eligibility: For everybody
◦ Young people contract: No
◦ Currencies: EUR, GBP, USD & 30+ others
◦ Wallets: Apple Pay · Google Pay · Garmin Pay
◦ App: Yes
◦ Account opening channels: App
◦ EU deposit guarantee: Up to €100,000

Notes:
You must first download the Revolut App in order to open an account over the app. Follow the link which will guid you.
Can be extended with business functionality by adding Revolut Pro. Revolut Pro is a simplified business account available within your personal Revolut app. It’s built to meet the needs of individuals with small, solo business ventures (such as freelance work or side-hustles), so they can organise spend, earn cashback, and take customer payments. This account is for self-employed people who may or may not be registered in local registries (depending on regional requirements). Revolut Pro is free of charge but does come with paid add ons.

◦ Free ATM region: Worldwide
◦ Free allowance: €200/month or 5 withdrawals free; 2% afterwards
◦ ATM fees:
Free up to €200 or 5 withdrawals (whichever comes first), then 2% per withdrawal (min €1)
◦ FX/conversion on card withdrawals & purchases:
Up to €1k / month: 1% fee on transaction volume on weekends; For amounts over 1k: 1% on transaction volume + 1% fee on weekends

◦ Debit card providers available: Visa, Mastercard
◦ Credit card: not available
◦ Wallets: Apple Pay · Google Pay · Garmin Pay
◦ Card FX/foreign transaction notes:
Up to €1k / month: 1% fee on transaction volume on weekends; For amounts over 1k: 1% on transaction volume + 1% fee on weekends

◦ Maintenance fee: €0
◦ Overdraft: not available
◦ Transfers:
Transfer fees: – Revolut to Revolut transfers: free – Local EUR bank transfers within Cyprus: free – SEPA EUR bank transfers within the EEA (outside Cyprus): free – Incoming bank transfers to your Revolut IBAN: free – International bank transfers outside SEPA in the recipient’s local currency: 0.15% of the amount, currency-specific minimums per fee table, maximum €300 per transfer – International bank transfers outside SEPA in a currency that is not the recipient’s local currency: flat fee €3 for USD/GBP/EUR/CHF or €5 for any other currency – Transfers to external cards: 0.70% (min €0.20) to Group A, 1% (min €1) to Group B, 2.30% (min €0.42) everywhere else – Scheduled local EUR bank transfers within Cyprus: free – Scheduled SEPA EUR bank transfers within the EEA (outside Cyprus): free – Scheduled international bank transfers outside SEPA in the recipient’s local currency: 0.15% of the amount, currency-specific minimums per fee table, maximum €300 per transfer – Scheduled international bank transfers outside SEPA in a currency that is not the recipient’s local currency: flat fee €3 for USD/GBP/EUR/CHF or €5 for any other currency

Revolut — Plus

◦ Eligibility: For everybody
◦ Young people contract: No
◦ Currencies: EUR, GBP, USD & 30+ others
◦ Wallets: Apple Pay · Google Pay · Garmin Pay
◦ App: Yes
◦ Account opening channels: App
◦ EU deposit guarantee: Up to €100,000

Notes:
You must first download the Revolut App in order to open an account over the app. Follow the link which will guid you.
Can be extended with business functionality by adding Revolut Pro. Revolut Pro is a simplified business account available within your personal Revolut app. It’s built to meet the needs of individuals with small, solo business ventures (such as freelance work or side-hustles), so they can organise spend, earn cashback, and take customer payments. This account is for self-employed people who may or may not be registered in local registries (depending on regional requirements). Revolut Pro is free of charge but does come with paid add ons.

◦ Free ATM region: Worldwide
◦ Free allowance: €200/month; 2% afterwards
◦ ATM fees:
Free up to €200, then 2% (min €1)
◦ FX/conversion on card withdrawals & purchases:
Up to €3k / month: 0.5% fee on transaction volume on weekends; For amounts over 3k: 0.5% on transaction volume + 0.5% fee on weekends

◦ Debit card providers available: Visa, Mastercard
◦ Credit card: not available
◦ Wallets: Apple Pay · Google Pay · Garmin Pay
◦ Card FX/foreign transaction notes:
Up to €3k / month: 0.5% fee on transaction volume on weekends; For amounts over 3k: 0.5% on transaction volume + 0.5% fee on weekends

◦ Maintenance fee: €3.99
◦ Overdraft: not available
◦ Transfers:
Transfer fees: – Revolut to Revolut transfers: free – Local EUR bank transfers within Cyprus: free – SEPA EUR bank transfers within the EEA (outside Cyprus): free – Incoming bank transfers to your Revolut IBAN: free – International bank transfers outside SEPA in the recipient’s local currency: 0.15% of the amount, currency-specific minimums per fee table, maximum €300 per transfer – International bank transfers outside SEPA in a currency that is not the recipient’s local currency: flat fee €3 for USD/GBP/EUR/CHF or €5 for any other currency – Transfers to external cards: 0.70% (min €0.20) to Group A, 1% (min €1) to Group B, 2.30% (min €0.42) everywhere else – Scheduled local EUR bank transfers within Cyprus: free – Scheduled SEPA EUR bank transfers within the EEA (outside Cyprus): free – Scheduled international bank transfers outside SEPA in the recipient’s local currency: 0.15% of the amount, currency-specific minimums per fee table, maximum €300 per transfer – Scheduled international bank transfers outside SEPA in a currency that is not the recipient’s local currency: flat fee €3 for USD/GBP/EUR/CHF or €5 for any other currency

Vivid Money — Standard

◦ Eligibility: For Freelancers
◦ Young people contract: No
◦ Type: Online Bank
◦ Currencies: EUR, GBP, USD & 20+ others
◦ Wallets: Apple Pay · Google Pay · Garmin Pay
◦ App: Yes
◦ Account opening channels: Online
◦ EU deposit guarantee: Up to €100,000
◦ Registration/documents: Personal Information: – Full name, citizenship, phone number, email address, and home address of the person applying to open the account. In Italy, we also require the gender to comply with Italian regulations. Identity verification is part of this step. Company Profile: – Name, legal entity type, registration number and date (if applicable), registration address, operational address, and website (optional). Directors – For General Business customers only. – Full names and email addresses of all directors. Each director must undergo identity verification through the link sent to their provided email. Subsequently, they’ll need to provide personal details such as full name, citizenship, date of birth, phone number, email address, and home address. – For companies registered in Italy, we require all directors to provide their gender, tax identification number and a copy of their ID document. Beneficial Owners – For General Business customers only. – Information for anyone with more than a 25% share in the company who otherwise controls or directs the business of the company. – For companies registered in Italy, we require all beneficial owners to provide their gender, tax identification number and a copy of their ID document. Company Documents – Submission of proof for the operating address (utility bills or rental agreement) and proof of business nature (sales invoice, supplier agreement, domain name ownership, etc.) if applicable. – Our team may request additional documents if necessary. Please check your email for notifications after completing the application. Failure to provide the required documents may result in delays or rejection of your application. Business Details – If applicable, the key countries of business activity, details about your company’s business activities, average monthly turnover, reasons for selecting the business country, and information about key partners.

Notes:
For freelancers

◦ Free ATM region: Worldwide
◦ Free allowance: €200/month free
◦ ATM fees:
3% of the withdrawal amount (min. €1) for withdrawals below €50 or above €200 per month; no FX markup on withdrawals in non-EUR currencies.
◦ FX/conversion on card withdrawals & purchases:
0% foreign transaction fee for card payments and withdrawals in non-EUR currencies (no FX markup over the exchange rate).

◦ Debit card providers available: Visa
◦ Credit card: not available
◦ Wallets: Apple Pay · Google Pay · Garmin Pay
◦ Card FX/foreign transaction notes:
0% foreign transaction fee for card payments and withdrawals in non-EUR currencies (no FX markup over the exchange rate).

◦ Maintenance fee: €0
◦ Interest on balance: 0.5% p.a.
◦ Overdraft: not available
◦ Transfers:
SEPA transfers (euro payments in EU/EEA): outgoing and incoming free. SWIFT transfers (international bank transfers): incoming free, outgoing €5 per transfer.

Bank of Cyprus — Current Account with Limit

◦ Eligibility: For everybody
◦ Young people contract: No
◦ Type: Branch Bank
◦ Currencies: EUR, USD, GBP
◦ Wallets: Apple Pay · Google Pay · Garmin Pay
◦ App: Yes
◦ Account opening channels: Online, App, Branch
◦ EU deposit guarantee: Up to €100,000

◦ Free ATM region: ATMs – Bank of Cyprus ATMs in Cyprus: free for debit cards and prepaid cards – Special groups (#4YOUTH 18–25, JOEY, customers 65+, and 18–25 with Quick Accounts): the usual “other banks’ ATM” cash-advance fee does not apply worldwide; the 3% currency admin fee is also waived for #4YOUTH and Quick Accounts 18–25 Branch counters – Accounts with basic features for customers over 65: cash withdrawal free
◦ Free allowance: BOC ATMs (debit): no limit on number or amount of free withdrawals Special groups at other banks’ ATMs: no volume cap; fee waiver per tariff notes applies as above Accounts with basic features 65+ at counter: no amount cap
◦ ATM fees:
ATMs – BOC ATMs (Cyprus): Debit withdrawals from your current account free – Other banks’ ATMs, EUR or SEK transaction: €3 (EUR cards), $4 (USD cards), £3 (GBP cards) – Other banks’ ATMs, any other currency: 3.33% fee, minimum €5 / $7 / £5 – Currency conversion on any debit withdrawal: +3% administration fee when the transaction currency isn’t EUR or SEK; special exemptions for #4YOUTH and Quick Accounts 18–25 Branch counters – Cash withdrawal in Euro: 1.5‰ of amount, minimum €1, maximum €5 – Customers 65+: 1.5‰ minimum €1 maximum €2; “accounts with basic features” for customers over 65 free
◦ FX/conversion on card withdrawals & purchases:
Debit Card: 3% fee on the turnover for transactions in a currency other than the account currency (i.e., non-euro) Credit Card: 3% fee on the turnover for transactions in a currency other than € or SEK (Swedish Krona)

◦ Debit card providers available: Visa, Mastercard
◦ Debit card monthly fees: €7.57
◦ Credit card providers available: Visa and Mastercard
◦ Credit card monthly fees: €12.51
◦ Wallets: Apple Pay · Google Pay · Garmin Pay
◦ Card FX/foreign transaction notes:
Debit Card: 3% fee on the turnover for transactions in a currency other than the account currency (i.e., non-euro) Credit Card: 3% fee on the turnover for transactions in a currency other than € or SEK (Swedish Krona)

◦ Maintenance fee: enter overdraft in filter
◦ Overdraft: available — borrower-specific% p.a. — The overdraft rate is borrower-specific and linked to the bank’s base rates
◦ Transfers:
Between BOC accounts (same currency) – Between your own accounts: branch €2, online (1bank) free – To another BOC customer: branch €7, online (1bank) free – Ledger fee for transfers done over the counter: €0.15 per transaction Outgoing SEPA credit transfers in EUR (within Cyprus/EU) up to €50,000 – Online (1bank): ≤€1,000 free; €1,000–€5,000 €3; €5,000–€50,000 €6 – At a branch: ≤€1,000 €6; €1,000–€5,000 €8; €5,000–€50,000 €12 Outgoing NON-SEPA / EUR over €50,000 / any foreign currency – Branch: 0.20% min €7 max €500 + processing €15 – Online (1bank): 0.15% min €5 max €250 + processing €10 – Same-day SWIFT (same currency): +0.05% min €20 max €200 – Correspondent charges (OUR): ≤€10,000 €12; €10,000–€50,000 €40; >€50,000 €60 – Exchange commission whenever a currency conversion occurs: 0.40% min €5 max €400 Incoming transfers to your BOC current account – In EUR: up to €10,000 free; €10,000–€50,000 €4; over €50,000 €30 – In foreign currency: up to €2,000 €2; €2,000–€50,000 €10; over €50,000 €40 – Discrepancy (investigation/repair) charge: €30 Standing orders & direct debits – Standing order setup/modify: branch €10 (free for customers 65+), online free – Standing order execution: to BOC accounts free; to other banks within SEPA €3; non-execution due to insufficient funds €5 – SEPA Direct Debit return due to insufficient funds: €1

Vivid Money — Prime

◦ Eligibility: For Freelancers
◦ Young people contract: No
◦ Type: Online Bank
◦ Currencies: EUR, GBP, USD & 20+ others
◦ Wallets: Apple Pay · Google Pay · Garmin Pay
◦ App: Yes
◦ Account opening channels: Online
◦ EU deposit guarantee: Up to €100,000
◦ Registration/documents: Personal Information: – Full name, citizenship, phone number, email address, and home address of the person applying to open the account. In Italy, we also require the gender to comply with Italian regulations. Identity verification is part of this step. Company Profile: – Name, legal entity type, registration number and date (if applicable), registration address, operational address, and website (optional). Directors – For General Business customers only. – Full names and email addresses of all directors. Each director must undergo identity verification through the link sent to their provided email. Subsequently, they’ll need to provide personal details such as full name, citizenship, date of birth, phone number, email address, and home address. – For companies registered in Italy, we require all directors to provide their gender, tax identification number and a copy of their ID document. Beneficial Owners – For General Business customers only. – Information for anyone with more than a 25% share in the company who otherwise controls or directs the business of the company. – For companies registered in Italy, we require all beneficial owners to provide their gender, tax identification number and a copy of their ID document. Company Documents – Submission of proof for the operating address (utility bills or rental agreement) and proof of business nature (sales invoice, supplier agreement, domain name ownership, etc.) if applicable. – Our team may request additional documents if necessary. Please check your email for notifications after completing the application. Failure to provide the required documents may result in delays or rejection of your application. Business Details – If applicable, the key countries of business activity, details about your company’s business activities, average monthly turnover, reasons for selecting the business country, and information about key partners.

Notes:
For freelancers

◦ Free ATM region: Worldwide
◦ Free allowance: €1000/month free
◦ ATM fees:
3% of the withdrawal amount (min. €1) for withdrawals below €50 or above €1,000 per month; additional 1% FX markup on withdrawals in non-EUR currencies.
◦ FX/conversion on card withdrawals & purchases:
1% foreign transaction fee for card payments and withdrawals in non-EUR currencies (1% FX markup over the exchange rate).

◦ Debit card providers available: Visa
◦ Credit card: not available
◦ Wallets: Apple Pay · Google Pay · Garmin Pay
◦ Card FX/foreign transaction notes:
1% foreign transaction fee for card payments and withdrawals in non-EUR currencies (1% FX markup over the exchange rate).

◦ Maintenance fee: €8.21
◦ Interest on balance: 2.5% p.a.
◦ Overdraft: not available
◦ Transfers:
SEPA transfers (euro payments in EU/EEA): outgoing and incoming free. SWIFT transfers (international bank transfers): incoming free, 5 outgoing SWIFT transfers per month free, then €5 per transfer.