Bank of Cyprus (BoC) on Monday gave out details on what ditched Barclays account holders should to transfer their business to Bank of Cyprus UK.
Barclays has told expat customers that unless they have £100,000 in their accounts, they would be closed by September.
Stepping in to fill the gap in the market, BoC said it was offering a range of products including a sterling on line personal current account , adding that people could apply online in just 10 minutes, have access to 24/7 online banking and have a pound sterling debit card.
Also there would be no charge to transfer money to a local bank account if it was held with BoC in Cyprus Anyone who would like to open a local current account with BoC should contact their local branch in Cyprus the bank said.
“In addition we offer a range of competitive deposit accounts, including fixed rate bonds,” BoC said.
The bank lays out eligibility requirements and identification requirements on its website.
If a would-be client already as a BoC account locally, this can be used as the necessary identification once certified by the branch. “They will then send them to us to speed up your application,” BoC said on a website page dedicated to the Barclays issue.
BoC said it also had a dedicated international Customer Service team who could be reached on +44 (0)20 3375 6422 if calling from outside the UK (Monday to Friday 9.00am to 5.00pm UK time).
Alternatively a client can contact the local branch of Bank of Cyprus in Cyprus for assistance.
Bank of Cyprus UK is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. It is also a member of the Financial Services Compensation Scheme in the UK, which means all eligible deposits are protected up to £85,000 per customer until and including 31 December 2015. From 1 January 2016 all eligible deposits will be protected up to £75,000 per customer.