Banking with Bank of Cyprus: Anywhere in the world, it’s like home

Bank of Cyprus has pioneered again with the introduction of its “One bank anywhere in the world” concept through which it offers customers cross-border access to their current accounts at no extra charge.

Bank of Cyprus Group CEO Andreas Eliades described the move as a bold initiative unparalleled not only in Cyprus or Greece, but also on a global level as few banks have invested so much to serve their clients and with no extra charge.

“We want our customers to feel like home, as if they are dealing with their neighborhood branch when traveling and seeking access to their accounts through any Bank of Cyprus branch in Greece and very soon in Romania, Russia, the UK and Australia,” said Eliades.

He defended the decision of the bank not to charge clients, describing it as a gesture to the thousands of customers who deserve the very best, and because based on Bank of Cyprus past experience, fair pricing always leads to more business.

“We were the first bank to shift from a flat to reducing balance system rate on finance loans and even though at first the move cost us in terms of lower interest income, we made this up as we attracted more customers who appreciated our fair pricing policy,” said Eliades.

 

— Same branch

 

Specifically, a Bank of Cyprus customer with a current account in, say, Limassol may walk into any branch in Greece and withdraw funds or deposit funds without any charge, or likewise a Greece based client may do the same in any Cyprus branch.

The scheme is available in Cyprus and Greece and will cover Romania, Russia, the UK and Australia from March.

Setting up of standing orders to pay rent, utility bills and other common expenses is seen as one of the many practical advantages. Students abroad will immediately benefit from the service as their parents will be able to deposit funds from Cyprus, available for immediate use at an overseas BOC branch at no extra charge.

Businesses are also likely to use the service since they will be able to pay their suppliers with the click of a button and at no extra cost.

Bank of Cyprus is offering the same branch, ATM, Internet Banking and Call Centre to its customers, anywhere in the world. The same also applies for people using Bank of Cyprus ATMs while abroad, since if they decide to withdraw funds from their current account, then as is the case at home, they will not be charged for the transaction.