Bank of Cyprus has announced that it will offer the possibility of opening an Instant Access Electronic Account (e-Instant) with zero management fees, listening, as it notes, to the needs of its customers.
“The product is aimed at private 1bank subscribers aged 18 and over, who can benefit by opening their own account easily and quickly through Internet Banking and the Boc Mobile app, without incurring any account management costs and with a free subscription for the 1st year on a debit card”, it states.
At the same time, this account provides the possibility of processing transactions that is also available in other Bank accounts.
The account, which is automatically created in the subscriber's name only, is available for deposits of any amount and can be debited/credited through Internet Banking/Mobile Banking/ATM.
Among other things, like other Bank of Cyprus accounts, it provides free outgoing payments via SEPA, for amounts up to 1,000 euros. It also gives the possibility to pay, through a standing bank order, loans, insurance premiums, rent or other expenses and through an automatic order to pay utility bills (direct debit).
In addition to e-Instant, the Bank of Cyprus pronounces with zero administration costs, the Youth 18-25 account.
Additionally, reduced fees are provided for the Basic Payments account.
Customers over 65 receive special commissions/fees.
“In a period of high inflationary trends, the Bank of Cyprus has always stood by its customers, understanding their needs, and will continue to contribute in its own way to the effort to deal with the phenomenon of accuracy in their daily lives and will continue to create new products that will meet customers' needs more economically, it added.
source: Economy Today