Refugees and asylum-seekers in Cyprus can access public and private banking services, such as opening an account and transferring funds according to the Comparability of Fees, Payment Account Switching and Access to Payment Accounts Law of 2017, Article 17(4). You are required to apply online or in person at a local branch of the bank of your choice. Normally you will be required to present valid identification and residence documents, along with other documentation depending on the type of account or service you are seeking.
Some individuals who have been unable to produce valid national passports have in the past been refused access to banking services in Cyprus. The law has recently been amended, and identification documents issued by the Republic of Cyprus to refugees and asylum-seekers can suffice for opening at least a basic payment account.
Identification Documents for Asylum Seekers: ARC and Confirmation for the submission of application for International Protection.
Identification Documents for International Protection Holders: Residence Permit. If it is not issued, then use the Decision on the application for International Protection with your Confirmation for the submission of application for International Protection.
Proof of Residence: Rent Agreement, Recent Utility Bill, Affidavit, SWS Certificate.
If you are a refugee or an asylum-seeker and you are facing difficulties accessing banking services, contact the UNHCR Cyprus office.
Bank working hours
Monday to Thursday: 08:00 – 14:30
Friday: 08:00 – 14:00
Banks are closed on weekends and public holidays.
These times may vary depending on the bank and branch you are visiting. It is advisable to call ahead, or check online.
Most banks offer internet banking services.
Private Banks in Cyprus include:
- Ancoria Bank Limited
- Bank of Cyprus
- Cyprus Development Bank
- Hellenic Bank Public Company Limited
- Housing Finance Corporation
- AstroBank
- RCB
For a full list please see the Central Bank of Cyprus website.