How to open a bank account in Alpha Bank Cyprus Ltd

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

January, 2003

Last contact

April, 2024

Last update

October, 2023

Instruction of the Central Bank of Cyprus dated June 2018: a ban on opening accounts with shell companies;
is currently opening accounts for companies whose activities are affiliated with Cyprus;
opens current accounts for companies and individuals;
to open an account, a personal meeting with a potential client is mandatory;
there are no requirements for minimum balances, but if the funds on the account do not appear within 3 months, the account may be closed;
the term for opening an account – case by case (check with the consultant).

GSL rating

Beginning of cooperation

January, 2003

Last contact

April, 2024

Last update

October, 2023

Поиск консультанта...

+44 0 207 822 85 93

General information and rating

1 172

Global rating

6

Countrywide rating

—

Countrywide rating of the head bank

—

Global rating of the head bank

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

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

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Minimum requirements

—

Minimum balance, €

—

Transactions permitted per month

0

Initial deposit of funds, €

3

Deadline for the initial deposit, month

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 payment is made one business day after receiving instructions. Urgent payment is made on the same day, the commission depends on the amount of the transfer

Tariffs and services

50

Outcoming transfer, €

26

Incoming transfer, €

140

Account maintenance, €/year

N/A

Payment limit for credit cards, €/day

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

Management is carried out through the Bank-Client system (Alpha Express Banking), it is also possible to use fax

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

Case by case

Days to open for outcoming transfers

Case by case

References

Necessary

Purpose of the account

Current

Visit to the bank

To open an account, a personal meeting with a potential client is mandatory

Required

Bank application forms; copy of the passport, KYC (business description, source of funds); corporate documents (corporate account), bank reference letter

Types of accounts

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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