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
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.
Debit interest rate
Interest rates vary according to the security
APR is calculated based on the example shown
*APR (Annual Percentage Rate) has been calculated on 10/07/2023 based on the following:
- Interest Rate: Base Rate European Central Bank (ECB) today at 4% + 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 IPS Solutions Ltd pursuant an affiliate license by Mastercard International Incorporated. IPS Solutions Ltd is registered in Cyprus HE 346719 Registered Office: 73 Metochiou 2407 Nicosia, Cyprus. IPS Solutions Ltd is an authorised Electronic Money Institution, licensed, registered, and supervised by Central Bank of Cyprus with license number 18.104.22.168. 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 22.214.171.124.8.
Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
Disclamer: Ancoria Bank Ltd may at its choice, reject an application/business relationship for legal, regulatory or other reasons and withdraw or amend any plan, at any time.
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What you need to have
- 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
- 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