In Cyprus there are many major local and international banks having branches all around the island. Many Cyprus banks have ATM'S, enabling you to draw foreign currency while you stay in Cyprus. If you are opening a bank account in a Cypriot bank you should first compare commission rates for money transfer to and from Cyprus. In all the banks in Cyprus you will find English speaking employees pleased to help you with any request you may have.

In recent years banks have expanded their activities beyond traditional banking and their services now cover insurance, leasing, hire purchase finance, factoring, mutual fund management, investment and consulting as well as custody and asset management services. They have also developed new products and services through electronic means or electronic access, using alternative distribution channels such as the internet, call centers, etc.