Business banking fees in Cyprus

What business accounts cost in Cyprus

A Cyprus business account fee usually has several parts: an account or maintenance fee, which traditional banks often bill quarterly rather than monthly, per transaction fees for transfers and direct debits, card fees, cash deposit and withdrawal fees, and currency conversion costs on foreign payments. Traditional banks tend to bundle a set of services into the maintenance fee, then charge for extras. Digital providers tend to advertise a low headline fee and charge for items such as cash handling, where offered, or transfers beyond a monthly allowance. Comparing only the headline fee can mislead, so add the items your business actually uses. As of 20 June 2026.

Account and maintenance fees

Traditional Cyprus banks such as Bank of Cyprus and Eurobank Limited charge an account maintenance fee, commonly billed each quarter, and publish the figures in their commissions and charges schedules. Digital providers publish lower headline fees, with the Wise Business account advertised at no monthly fee and a one time setup fee that may apply, and Revolut Business offering a Free plan alongside paid plans from about EUR 10 a month. Confirm the current figures with the provider, since pricing changes. As of 20 June 2026.

Transaction, card, cash, and currency fees

Beyond the account fee, watch the per item charges. SEPA transfers and direct debits may be included up to an allowance, then priced per item. A business debit card may be included or charged separately, and extra cards usually cost more. Cash deposits and withdrawals often carry a fee at traditional banks and may be unavailable at digital providers. Foreign currency payments add a conversion cost, which multi currency providers such as Wise Business price close to the mid market rate. Read each fee schedule for the current figures. As of 20 June 2026.

Fees to check before you open

Look at these fee items before you commit, because the cheapest headline price is not always the cheapest overall. Verify with the provider

• The account or maintenance fee and what it includes. Traditional Cyprus banks such as Bank of Cyprus and Eurobank Limited often bill this quarterly, while digital providers such as Wise Business and Revolut Business advertise low or zero monthly fees. As of 20 June 2026.
• Transfer, direct debit, and card fees, plus any allowance of free transactions before charges begin. Plans differ widely in what counts as free, so check the schedule for your usage. As of 20 June 2026.
• Cash deposit and withdrawal fees where offered, any minimum balance, and currency conversion costs on foreign payments. Multi currency providers such as Wise Business price foreign exchange separately. Verify current figures with the provider.

How to compare fees

1. List the transactions your business makes in a typical month: transfers, card payments, cash, and any foreign currency. This is the basis for a fair comparison.
2. Read each provider fee schedule and total the account fee plus the per item charges for your usage. Note that traditional banks may quote the account fee per quarter rather than per month.
3. Check the cost of the items you use most, such as foreign payments or cash handling, since these often outweigh the headline account fee. Confirm the current schedule with the provider before opening. As of 20 June 2026.