Business Banking

Business Current Account

Your business current account gives you instant access to your company’s funds so you can easily manage your daily business operations. From payroll to bill payments, we’ve got you covered.

Everything you need for your day-to-day business banking needs:

Manage the payroll

Use your Business Current Account to manage your staff payroll

Pay bills and loans

Set up standing orders and direct debits and use a company chequebook and debit card** to manage your everyday business needs

Choose what’s best for your business:

Qualify for an overdraft

Your overdraft amount will depend on your company’s turnover. Debit interest is charged on daily balances on a 365/366 day basis

Option of different currencies

Open your current account in one of the following currencies: Euro (EUR), British Pounds (GBP), US Dollar (USD), Swedish Krona (SEK), Japanese Yen (JPY), Swiss Franc (CHF), Polish Zloty (PLN)

Representative example:

At Ancoria Bank, we want to make sure that you have all the information you need at all times. We’ve provided a representative example, that you can use as a guide.

Limit amount

Up to €20,000
For larger amounts please contact one of our Banking Centres

Debit interest rate

5%
Interest rates vary according to the security

APR*

11.59%
APR is calculated based on the example shown 

IMPORTANT INFORMATION

*APR (Annual Percentage Rate) has been calculated on 09/03/2020 based on the following:

  • Interest Rate: Base Rate European Central Bank (ECB) today at 0.00% + margin 5%
  • Initial charges: Processing fees of 1% of the amount of facility with a minimum amount of €150 and Documentation fees of €100. If you need more information about our charges you can view the Commissions and Charges table
  • Overdraft limit = €20,000
  • Term = 3 months (revolving)
  • The APR will vary in the event that any of the above variables change
  • The above pricing refers only to companies registered in Cyprus

Overdraft Interest Rate consists of the base + the margin. Interest Rate margin is the same for all currencies but the base varies based on the currency of the account as follows: i) ECB Rate for EUR, ii) BOE Bank Rate for GBP, iii) NBP Reference Rate for PLN, iv) Riksbank Repo Rate for SEK, v) BOJ Basic Loan Rate for JPY And vi) SNB Mid Target Rate for CHF. For the definition of the base rates used click here

**The Ancoria Bank Mastercard® Debit Card is issued by PSI-Pay Ltd pursuant to a license by Mastercard International Incorporated. PSI-Pay Ltd is registered in England & Wales No. 5899168. Registered Office: Afon Building, Worthing Road, Horsham RH12 1TL. Your Ancoria Bank Mastercard Debit Card is governed by the General Terms and Conditions of Ancoria Bank Ltd. Your debit card will access the available balance in your Ancoria Bank current account. Ancoria Bank Ltd is licensed, registered and supervised by the Central Bank of Cyprus with license number 115.1.1.1.8.

Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Disclamer: Ancoria Bank Ltd reserves the right to decline an application/business relationship for legal, regulatory or any other reason and withdraw any plan, at any time.

Get Started

Submit your details for an appointment either via video call or via phone, and we’ll be delighted to help get you started.

Make an appointment

What you need to have

Required documentation:

CYPRIOT RESIDENTS

  • Passport or National Identity card
  • Original recent utility bill (less than 6 months old) / OR statement of EEA bank / OR local authority tax bill / OR house insurance

NON-CYPRIOT RESIDENTS

  • Copy of a valid ID / Passport certified as a true copy by a state authority
  • If you are temporarily residing in Cyprus and are a non-EU national, please supply a copy of your Temporary Residence Permit
Banking made simple

myAncoria is an award-winning, handy app that lets you access your accounts anytime, anywhere. Track your business expenses and transfer money between accounts in seconds. Stay on top of your financials no matter where you are. All with myAncoria. Access myAncoria from your PC, tablet, or mobile app.

If you have any questions, or simply need some help to get started

Call us on 8000 0050 or +357 22849000