Cyprus Banks to accept government checks

It is added that government services and independent offices will accept checks by all financial institutions under certain conditions.

These provide for checks up to 5,000 euros to be acceptable without any restrictions, while checks above this limit and up to 200,000 euros will be acceptable upon the approval of the Central Bank Committee, which was set up in accordance with the relevant law imposing restrictions on financial transactions.

If the Committee rejects the check within 24 hours, this will be returned as “not cashed”, the announcement says.