Foreign Exchange
-
Services & FacilitiesCovers your foreign currency transactional needs – e.g. imports/exports, FX risk coverage, investment requirements - at highly competitive pricing through our extensive network of high-quality counterparties.
-
Market updates and assistance
Our team of experts works extended hours and is available to share updates and recent developments on the volatile exchange markets.
-
eFX Convert
This service is available on Internet Banking and on the BoC Mobile App on the “Transfer & Pay” or “Transfers” screen respectively.
Additional info
-
The new functionality is provided through Internet Banking and BoC Mobile App under “Transfers” to own connected accounts or to other BoC customers’ accounts. Once the transaction details are completed, real time foreign exchange rates will be provided for a short, predetermined period on the transfer screen. The transfer is executed and processed when the client accepts and confirms the exchange rate offered. The affected BoC accounts will be instantly and automatically debited/credited with the relevant amounts.
-
No commission is charged for transactions executed in real time through eFx Convert. This service is available for over 45 currency pairs including all the major ones.
-
Open a foreign currency account in the currency of your outward payment, where you can convert and transfer the amount you need using eFx Convert. As soon as this transfer is completed, you can proceed with the outward payment by debiting the foreign currency account where the required amount is already available.
-
The service is available for extended hours during banking business days from 7.30am until 11.00pm. On the day preceding a Cyprus public holiday the service is available from 7:30 am until 5:00 pm. Transaction requests which are placed outside the working hours, will be processed as “pending future execution orders”- provided that the client consents - and will be executed at the opening of the next working day with the available FX prices at the time.
For Quick account holders the service is available on a 24hours basis including national holidays and weekends for transfers in combinations between currencies in EUR, USD and GBP.