Alpha Bank Cyprus Ltd

Beginning of cooperation Last contact Last update
January, 2003 July, 2018 May, 2018

GSL reference about the bank

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Alpha Bank Cyprus Ltd is part of the international Alpha Bank Group, one of the Greek leading banking and financial groups. The bank has branches in all Cyprus cities and has Russian-speaking staff. It also has a representative office in Moscow the officers of which are always ready to assist with any queries.
As for the account opening procedure, one should be prepared to have an account fully operative (i.e. allowing both for incoming and outgoing transactions) only after some time, and this time may often exceed the expected one. In other words, there may be some delays when the account is just being opened.
 
 

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    Bank's characteristics

    General information and rating

    Global rating Countrywide rating Countrywide rating of the head bank Global rating of the head bank Credit rating
    1 172 6 — — CCC
    Year of foundation 1879
    History Alpha Bank, founded in 1879, is one of the largest banks in Greece. The bank has a lot of subsidiary financial, insurance, and investment companies and has over 400 branches in Greece. The Alpha Bank Group is also active in the international banking markets, with presence in Cyprus, Romania, Bulgaria, Serbia, Ukraine, Albania and the United Kingdom. Alpha Bank made its first appearance in Cyprus in 1998 with the acquisition of Lombard Natwest Bank. It was renamed Alpha Bank Limited and later Alpha Bank Cyprus Ltd
    Personnel The Bank employs over 750 members of staff, bank staff speaks different languages, including Russian
    Bank’s shareholders Alpha Bank AE (Athens Greece) - 100%
    Confidentiality Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed; Active member of OECD, FATF, Basel Commitee, Egmont Group etc.

    Minimum requirements

    Minimum balance, € Transactions permitted per month Initial deposit of funds, € Deadline for the initial deposit, month Minimum turnover, €/year
    — — 0 3 No restrictions
    Transactions permitted per month The bank does not limit the number of transaction
    Initial deposit of funds, € Not required. However, if the funds are not transferred to the account within 3 months, the account may be closed; you will need to contact a bank officer in this case
    Minimum turnover, €/year No requirement for the minimum turnover
    How fast payments are executed Outgoing Payments - 2 working days; Same Day Value - additional charge.

    Tariffs and services

    Outcoming transfer, € Incoming transfer, € Account maintenance, €/year Payment limit for credit cards, €/day Funds to be blocked for CC issue, €
    50 26 140 N/A N/A
    Outcoming transfer, € 0.1%, min. EUR 25, max. EUR 510
    Incoming transfer, € Up to EUR 1 710 - EUR 12; over EUR 1 710 - EUR 25.50
    Account maintenance, €/year EUR 140 per annum (corporate account); EUR 70 per annum (personal account)
    Distant access to the account 1) fax; 2) Internet banking (Alpha Express Banking)
    Financial products International transfers (SWIFT, telex, cheque or postal order), documentary letters of credit, trade finance, forfeiting, dealing operations, debentures and guarantees, loans in all currencies, currency trading, custody services, investment services, shipping services, assistance with and loans for purchasing Cyprus real estate
    Credit/debit cards VISA Silver, VISA Gold - debit card, linked to a current account
    Hold mail EUR 140 per annum (corporate account); EUR 85 per annum (personal account)

    Account opening procedure

    Days to open for incoming transfers Days to open for outcoming transfers References Business description Purpose of the account
    60 60 Necessary Sketchy Current
    Visit to the bank Not required
    Required Bank application forms; copy of the passport, KYC (business description, source of funds); corporate documents (corporate account), bank reference letter
    Types of accounts Personal; Corporate; Savings; Current
    Opening procedure and Due Diligence It is possible to open an account without visiting the country where the bank is located
    Chances to open an account Predictable
    Business description Relatively detailed: in addition to the description of the business, the origin of funds needs to be disclosed
     
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