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Bank of Cyprus UK deposit protection arrangements
Bank of Cyprus UK deposit protection arrangements
We are a division of Bank of Cyprus Public Company Limited which is based in Cyprus. As such our depositors are protected by the Cypriot Deposit Protection Scheme. This scheme covers deposits, up to a maximum compensation limit of €100,000 per customer.
This means that in the very unlikely event of the Bank of Cyprus Group failing, our customers could claim from the Scheme all of their deposit up to a maximum of €100,000 (or Sterling equivalent). As at 2 May 2012, €100,000 is equivalent to approximately £81,200. For joint accounts, each account-holder is entitled to compensation up to the maximum limit.
The Cypriot Deposit Protection Scheme covers all currencies in which deposits are held, although any compensation paid by the scheme would be in euros. The scheme also covers most customer types, including personal customers, small and large companies, partnerships and associations. Please note however, that the Cypriot Deposit Protection Scheme does not cover deposits held by other banks, insurance companies, collective investment companies or pension funds [including Self Invested Personal Pensions (SIPPs) and Small Self Administered Schemes (SSASs)].
Further information about the Cypriot Deposit Protection Scheme can be found on the following website: www.centralbank.gov.cy under 'Banking in Cyprus' / 'Deposit Protection Scheme'.
If you have any further questions please call us on 0845 850 5555 from 9.00am to 5.00pm Monday to Friday and 9.30am to 12.30pm Saturday. Calls may be recorded for monitoring and training.