Listed below are some of the money brokers who can offer you a better currency exchange rate when transferring money abroad. Or search our list of approved FSA brokers
It is advised that if you are sending regular payments abroad you should use a foreign exchange broker to ensure you get the most out of your exchange rate. Sending Money Abroad.
Complete application form
Provide ID such as Passport
Confirm amount to be sent
Provisional Currency rate will be agreed
Send funds to foreign exchange broker
Money converted to currency required
Money received and sent as required
Currency for Cyprus - Currency code CYP
The Euro (EUR) is now the official currency of Cyprus. Cyprus prior currency, the Pound, has now been phased out as legal tender and is no longer accepted.
Credit Cards accepted
The following credit cards are accepted MasterCard and Visa as well as others major credit cards including Euro cheque cards. Always check with your credit card company for details of merchant acceptability and other services which may be available before you go on holiday or travel abroad / overseas
Traveller's cheques
Without restrictions you may import traveller's cheques, but cash amounts in excess of USD $1000 equivalent should be declared on entry if you intend to re-export a significant quantity of it.
Euro cheques and traveller's cheques are accepted by all banks and some shops and restaurants. The cheques can be exchanged with subject to fees. It is worth noting that Thomas Cook traveller's cheques can be exchanged commission-free at any branch of the Bank of Cyprus.
Currency restrictions
There are no restrictions on the import and export of either local or foreign currency.
Tipping - Many restaurants will charge a service fee as part of the bill. If you're keen to tip it is customary to leave a 10% tip.
Banks
In Cyprus, you can exchange your currency at most Banks as well as many exchange bureaus that you will find in popular areas, such as Nicosia, Limassol, Larnaka, Paphos. In most banks when you are exchanging currency, you will need your passport. If you do not have this with you, then the bank may refuse to exchange your currency.
Bank Opening Hours
Mon-Fri 0815-1330 May-September; Mon-Fri 0830-1330 and Mon 1515-1645 Oct-Apr.
Electricity - 240 Volts, 50 Hz
Need to transfer money to Cyprus see foreign exchange companies offering the best currency deals.
Even if you are sending money to pay your mortgage, Importing or exporting or money to paying oversea suppliers? No matter who you intend to pay use a foreign exchange broker it is cheaper than using high street banks.
