Bank Closure

Bank of Cyprus (Channel Islands) Ltd (‘Bank of Cyprus CI’) is closing and all deposits and investments will be repaid in full. This is a strategic decision after careful review of the prospects for Bank of Cyprus CI and within overall Group strategy of focusing on core businesses and markets. Bank of Cyprus CI remains financially strong and able to repay all balances in full.

All existing customer agreements with Bank of Cyprus CI will terminate with effect from 4 November 2016. From that date, no interest will be paid and normal operation of accounts will end.

All Bank of Cyprus CI clients should give the bank your written instructions to close your account(s) now and to transfer your deposits and/or investments to another part of Bank of Cyprus, or to another provider. Your local Bank of Cyprus relationship manager will be happy to help you with this transfer. Bank of Cyprus CI will not charge any fees for making transfers from now until 4 November 2016, so please act before this date to close your account(s).

Contact us

You can contact your local Bank of Cyprus Private Banking or Premier Banking office. Alternatively, you can contact Bank of Cyprus CI directly at PO Box 558, Regency Court, Glategny Esplanade, St Peter Port, Guernsey, Channel Islands, GY1 6JF. Telephone: +44 (0) 1481 716026. Email: info@gg.bankofcyprus.com

Making a Complaint

Bank of Cyprus CI is committed to providing a high standard of service to all of its clients on every occasion. We do recognise, however, that occasionally we may not live up to your expectations or our promises. If you have a complaint about any aspect of our service, please let us know using the 'Contact us' details above.

We will aim to resolve your complaint as quickly as possible and we will respond to you within five business days.  If we cannot resolve your complaint immediately, we will keep you regularly informed of the progress we are making in trying to resolve it.  Once we consider your complaint to be resolved, we will send you a final response.  (If we have not done so withn three months, then you have the right to inform the Guernsey Financial Services Commission directly of your complaint.)

If you are dissatisfied with our final response, then you may be eligible to refer your complaint to the Channel Islands Financial Ombudsman (CIFO).  The CIFO is the joint operation of two statutory ombudsman roles, established in law by the Financial Services Ombudsman (Jersey) Law 2014 and the Financial Services Ombudsman (Bailiwick of Guernsey) Law 2014.  The primary role of the CIFO is to resolve complaints about financial services provided in or from the Channel Islands of Jersey, Guernsey, Alderney and Sark to individuals, small companies and certain local charities.  Further information is available from the CIFO website: www.ci-fo.org.

 

* Bank of Cyprus CI is a participant in the Guernsey Banking Deposit Compensation Scheme. The Scheme offers protection for ‘qualifying deposits’ up to £50,000, subject to certain limitations. The maximum total amount of compensation is capped at £100,000,000 in any 5 year period. Full details are available on the Scheme’s website www.dcs.gg or on request. Deposits with Bank of Cyprus CI are not covered by the Financial Services Compensation Scheme in the UK under the Financial Services and Markets Act 2000, nor by any equivalent scheme outside of the Bailiwick of Guernsey.

The information provided in this document is intended as general information and is not tailored to your personal circumstances. It is not intended, and it should not be taken as, an offer, recommendation or investment advice in relation to any service or investment.

You should seek independent legal and taxation advice before making any investment decisions. Any decisions made by you on the basis of the information provided in this document are your responsibility and are made at your own risk. Although the information contained herein has been taken from sources which Bank of Cyprus CI deems to be reliable and accurate, Bank of Cyprus CI cannot guarantee that the information provided is accurate, complete or up-to-date. Bank of Cyprus CI assumes no liability for printing or typographical errors. Bank of Cyprus CI is not obliged to update or amend the information contained herein. The information provided herein is valid at the date of issue and may be amended at any time without notice.

Neither Bank of Cyprus CI nor any of its agents, employees or subcontractors shall be liable for any damages (including lost profits) arising from the use of the information contained herein. Bank of Cyprus CI retains all rights (including copyright, trademarks, patents and any other intellectual property right) in relation to the information provided herein (including all text, graphic material and logos). The information contained herein may not be copied, published, distributed or reproduced in any form without the prior written consent of Bank of Cyprus CI.

Telephone calls to Bank of Cyprus (Channel Islands) Ltd may be recorded or monitored for security, training and service quality. 

Bank of Cyprus CI was incorporated in Guernsey with registration number 31058. Its registered office is at Regency Court, Glategny Esplanade, St Peter Port, Guernsey GY1 6JF. The telephone number is +44 (0) 1481 716026 and email address is info@gg.bankofcyprus.com. Bank of Cyprus CI is authorised and regulated by the Guernsey Financial Services Commission and is licensed under the Banking Supervision (Bailiwick of Guernsey) Law 1994, as amended, and the Protection of Investors (Bailiwick of Guernsey) Law 1987, as amended.