Send Money To Cyprus

Updated on September 13, 2020
Personal
Business
From
United Kingdom Flag
United Kingdom
GBP
To
Cyprus Flag
Cyprus
EUR
1 GBP equals
1.082 EUR
09/13/2020 5:19 PM UTC
 
How much to transfer?
$1-1k
$1k-10k
$10k +
Provider
Features
Fees
Score
Speed
Transfer Now
OFX Logo
  • Check Icon
    0.4% margin for new customers referred by iCompareFX
  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Online and phone transfers
$
$
$

low

Fees
87
Speed Icon

medium

2-3 days

Less Information
-

Transfer Options

  • Bank transfer
  • Debit card (UK only)
  • BPAY (Australia only)
  • Direct debit (U.S. only)

Features

  • Check Icon
    0.4% margin for new customers referred by iCompareFX
  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Online and phone transfers

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

low

Fees
Speed Icon

medium

2-3 days

Best For

  • Circle Check Icon
    Pay no fees for personal transfers
  • Circle Check Icon
    Get competitive exchange rates
  • Circle Check Icon
    Lets you schedule transfers with ease
  • Circle Check Icon
    Trading in some currencies possible only over the phone
  • Circle Check Icon
    Website access only in English
TorFX Logo
  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Forward contracts
  • Check Icon
    Limit and stop loss orders
  • Check Icon
    Travel money solutions for UK residents
$
$
$

low

Fees
72
Speed Icon

medium

2-3 days

Less Information
-

Transfer Options

  • Bank transfer
  • CHAPS (UK only)
  • BACS (UK only)
  • Visa debit card (UK only)

Features

  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Forward contracts
  • Check Icon
    Limit and stop loss orders
  • Check Icon
    Travel money solutions for UK residents

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

low

Fees
Speed Icon

medium

2-3 days

Best For

  • Circle Check Icon
    Pay no fees for one-off transfers
  • Circle Check Icon
    Schedule transfers between £500 and £10,000 per month
  • Circle Check Icon
    Use hedging tools to protect yourself against FX fluctuations
  • Circle Check Icon
    No multilingual website
XE Money Transfer Logo
  • Check Icon
    Fee-free transfers
  • Check Icon
    Competitive exchanges rates
  • Check Icon
    Limit orders
  • Check Icon
    Multilingual website and customer service
$
$
$

low

Fees
74
Speed Icon

medium

2-3 days

Less Information
-

Transfer Options

  • Bank Transfer
  • BPAY (Australia)

Features

  • Check Icon
    Fee-free transfers
  • Check Icon
    Competitive exchanges rates
  • Check Icon
    Limit orders
  • Check Icon
    Multilingual website and customer service

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

low

Fees
Speed Icon

medium

2-3 days

Best For

  • Circle Check Icon
    No fees for personal transfers
  • Circle Check Icon
    Accepts payments in several currencies
  • Circle Check Icon
    Target specific rates using limit orders
  • Circle Check Icon
    No debit or credit card payments
  • Circle Check Icon
    No scheduled transfers
CurrencyFair Logo
  • Check Icon
    Transparent fees
  • Check Icon
    Recurring transfers
  • Check Icon
    Rate Alerts
  • Check Icon
    Low minimum transfer limit
$
$
$

low

Fees
67
Speed Icon

medium

2-3 days

Less Information
-

Transfer Options

  • Bank transfer
  • SEPA
  • BPAY
  • Debit Card (Ireland)

Features

  • Check Icon
    Transparent fees
  • Check Icon
    Recurring transfers
  • Check Icon
    Rate Alerts
  • Check Icon
    Low minimum transfer limit

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

low

Fees
Speed Icon

medium

2-3 days

Best For

  • Circle Check Icon
    Set your own rates using Exchange
  • Circle Check Icon
    Scheduling transfers is simple
  • Circle Check Icon
    Holding funds in multi-currency wallet
  • Circle Check Icon
    Supports only major currencies
  • Circle Check Icon
    No global debit or credit card payments
  • Circle Check Icon
    No support for USA residents
WorldRemit Logo
  • Check Icon
    Bank account transfers and cash transfers
  • Check Icon
    Mobile airtime and mobile wallets top up
  • Check Icon
    Home delivery of transferred funds
  • Check Icon
    Multicurrency WorldRemit Wallet
  • Check Icon
    Multilingual website
$
$
$

medium

Fees
63
Speed Icon

fast

1-2 days

Less Information
-

Transfer Options

  • Bank Transfer
  • Debit / Credit card
  • Google / Apply Pay
  • POLi (Australia)

Features

  • Check Icon
    Bank account transfers and cash transfers
  • Check Icon
    Mobile airtime and mobile wallets top up
  • Check Icon
    Home delivery of transferred funds
  • Check Icon
    Multicurrency WorldRemit Wallet
  • Check Icon
    Multilingual website

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

medium

Fees
Speed Icon

fast

1-2 days

Best For

  • Circle Check Icon
    Transfers to cash pickup locations
  • Circle Check Icon
    Transparent rates and fees
  • Circle Check Icon
    Low minimum transfer amount
  • Circle Check Icon
    No hedging tools
  • Circle Check Icon
    No scheduled transfers
Global Reach Group Logo
  • Check Icon
    Fee-free transfer limit
  • Check Icon
    Forward contracts
  • Check Icon
    Stop loss orders
  • Check Icon
    Limit orders
$
$
$

low

Fees
68
Speed Icon

medium

2-3 days

Less Information
-

Transfer Options

  • Bank transfer

Features

  • Check Icon
    Fee-free transfer limit
  • Check Icon
    Forward contracts
  • Check Icon
    Stop loss orders
  • Check Icon
    Limit orders

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

low

Fees
Speed Icon

medium

2-3 days

Best For

  • Circle Check Icon
    Pay no fees when you transfer more than £3,000
  • Circle Check Icon
    Lock existing rates using forward contracts
  • Circle Check Icon
    Safeguard against FX fluctuations using stop loss and limit orders
  • Circle Check Icon
    No mobile app
  • Circle Check Icon
    No multilingual website
Payoneer Logo
    $
    $
    $

    high

    Fees
    71
    Speed Icon

    medium

    2-3 days

    Less Information
    -

    Transfer Options

    • Bank transfer
    • Debit card
    • Credit card
    • Bank debit

    Features

      Support

      • Phone
      Support
      Phone Icon
      Phone
      $
      $
      $

      high

      Fees
      Speed Icon

      medium

      2-3 days

      Best For

      Currencies Direct Logo
      • Check Icon
        Forward contracts and limit orders
      • Check Icon
        Scheduled transfers
      • Check Icon
        Travel money solutions for residents of the UK
      • Check Icon
        Multilingual website
      $
      $
      $

      low

      Fees
      84
      Speed Icon

      medium

      2-3 days

      Less Information
      -

      Transfer Options

      • Bank transfer
      • Debit card

      Features

      • Check Icon
        Forward contracts and limit orders
      • Check Icon
        Scheduled transfers
      • Check Icon
        Travel money solutions for residents of the UK
      • Check Icon
        Multilingual website

      Support

      • Phone
      Support
      Phone Icon
      Phone
      $
      $
      $

      low

      Fees
      Speed Icon

      medium

      2-3 days

      Best For

      • Circle Check Icon
        Schedule transfers easily
      • Circle Check Icon
        Make use of hedging tools
      • Circle Check Icon
        Accepts customers from most countries
      WorldFirst Logo
      • Check Icon
        Low Transparent fee structure
      • Check Icon
        Forward contracts
      • Check Icon
        Scheduled transfers
      • Check Icon
        Dedicated account manager
      • Check Icon
        Live chat support
      $
      $
      $

      low

      Fees
      84
      Speed Icon

      fast

      1-2 days

      Less Information
      -

      Transfer Options

      • Bank Transfer
      • Debit card
      • Direct debit (UK only)
      • CHAPS / BACS (UK only)

      Features

      • Check Icon
        Low Transparent fee structure
      • Check Icon
        Forward contracts
      • Check Icon
        Scheduled transfers
      • Check Icon
        Dedicated account manager
      • Check Icon
        Live chat support

      Support

      • Phone
      Support
      Phone Icon
      Phone
      $
      $
      $

      low

      Fees
      Speed Icon

      fast

      1-2 days

      Best For

      • Circle Check Icon
        Schedule transfers with ease
      • Circle Check Icon
        Hedge funds using forward contracts
      • Circle Check Icon
        No support for USA customers
      TransferWise Logo
      • Check Icon
        Transparent fee structure
      • Check Icon
        Send money to email addresses
      • Check Icon
        Multicurrency account with debit card
      • Check Icon
        Multilingual website & app
      $
      $
      $

      low

      Fees
      75
      Speed Icon

      fast

      1-2 days

      Less Information
      -

      Transfer Options

      • Bank Transfer
      • Credit Card
      • Debit Card
      • Country specific alternatives

      Features

      • Check Icon
        Transparent fee structure
      • Check Icon
        Send money to email addresses
      • Check Icon
        Multicurrency account with debit card
      • Check Icon
        Multilingual website & app

      Support

      • Phone
      Support
      Phone Icon
      Phone
      $
      $
      $

      low

      Fees
      Speed Icon

      fast

      1-2 days

      Best For

      • Circle Check Icon
        User friendly mobile app
      • Circle Check Icon
        Multi-currency account
      • Circle Check Icon
        Travel debit card
      • Circle Check Icon
        No scheduled transfers
      • Circle Check Icon
        No dedicated account manager
      TransferGo Logo
      • Check Icon
        Transparent pricing
      • Check Icon
        Accepts card payments
      • Check Icon
        No minimum transfer amount
      • Check Icon
        Multilingual website
      $
      $
      $

      low

      Fees
      52
      Speed Icon

      medium

      2-3 days

      Less Information
      -

      Transfer Options

      • Bank transfer

      Features

      • Check Icon
        Transparent pricing
      • Check Icon
        Accepts card payments
      • Check Icon
        No minimum transfer amount
      • Check Icon
        Multilingual website

      Support

      • Phone
      Support
      Phone Icon
      Phone
      $
      $
      $

      low

      Fees
      Speed Icon

      medium

      2-3 days

      Best For

      • Circle Check Icon
        Same day and next day transfers
      • Circle Check Icon
        Website access in different European languages
      • Circle Check Icon
        Make payments using debit or credit cards
      • Circle Check Icon
        Accepts customers only from Europe
      • Circle Check Icon
        Maximum transfer limit of GBP 2,500 when paying using cards

      How to send money to Cyprus

      How To Step Icon
      Step 1
      Examine the top alternatives, sign up

      Most of the leading international money transfer companies give individuals and businesses the ability to send money to Cyprus. 

      Selecting one that suits your needs the best requires that you compare the leading alternatives carefully. 

      Sign up with the company you select by providing all the necessary information. 

      Verifying your identity at this stage is usually a legal requirement.

      How To Step Icon
      Step 2
      Go through exchange rates, set up your transfer

      Determine if it is a good time to send money to Cyprus by checking the recent history of EUR exchange rates. 

      Begin the transfer process by informing your service provider of the desired transfer amount and getting a rate quote. If you find the rate to be acceptable, lock it in place by accepting the quote.

      Your service provider will ask for the recipient's local bank account details around this time.

      How To Step Icon
      Step 3
      Transferring the money, tracking the transfer

      The company you select to transfer money to Cyprus essentially functions as an intermediary.

      You first need to pay for your transfer. Only after your service provider receives the money will it transfer it to the recipient's bank account. 

      You get to know how long the process might take in advance. 

      Tracking these transfers is usually rather easy - either through updates on your service provider's website or through text/email notifications.

      Currency Symbol and Swift Codes

      What currency do they use in Cyprus? The Cypriot pound (CYP) – also referred to as the lira – was the official currency of Cyprus until December 2007. What is the currency of Cyprus now? In January 2008, the Republic of Cyprus switched over from the lira to the euro (EUR). However, the Turkish Republic of Northern Cyprus continues using the lira as its official currency.

      Carrying out a money transfer to a Cypriot bank account requires that you have the bank’s SWIFT code. Here are SWIFT codes of a few popular banks in Cyprus.

      BANKBRANCHSWIFT CODE
      Bank of CyprusNicosiaBCYPCY2N010
      Cyprus Development BankNicosiaCYDBCY2NXXX
      Cyprus Cooperative BankNicosiaCCBKCY2NXXX
      Eurobank CyprusNicosiaERBKCY2NXXX

       

      Case Study

      Steve and his wife were travelling from the UK to Cyprus for a holiday. They looked for hotels online and found one that suited their needs. Steve decided to make a large part of the payment directly to the hotel, while he was still in the UK. Turning to his bank was an option, but he decided to compare it with a popular overseas money transfer company. The corresponding table shows you what he found.

       BANKMONEY TRANSFER SERVICE
      Exchange rateGBP 1 = EUR 1.0152GBP 1 = EUR 1.1329
      Transfer feeGBP 20GBP 0
      Amount received for GBP 3,000EUR 3,025.30EUR 3,398.70
      Transfer time2 to 5 days1 to 2 days
      Transfer optionsBank accountBank account
      Difference of EUR 373.40

      The company Steve selected resulted in the hotel receiving more than 10% extra money than it would have if he had used the bank, and he was glad to add it to their holiday budget.

       

      Cash Pickup Locations in Cyprus

      You can send money to Cyprus quickly by using the services of a company that has an agent network in the country. Some of your options include Western Union, MoneyGram, and Ria.

      WESTERN UNION IN CYPRUS 
      Nicosia, Bank of Cyprus, Kantaras Avenue, NicosiaMichael Iosif, 7b Kantaras Street, Nicosia
      Limassol Bank of Cyprus, 33 Elia Kannaourou Street, LimassolI and Beyond, A16 Vasileos Georgiou Street, Limassol
      MONEYGRAM IN CYPRUS 
      Nicosia Rita Kumah, 10, Near Ohi Square, NicosiaACS Courier, 40h Makariou Avenue, Nicosia
      Limasson Cyprus Post, 137 Agias Fylaxeos, LimassolFix Kiosk 2 Ariadnis Street, Next to Sigma Bakarey Limassol

       

      Safety Tips for Picking Up Cash in Cyprus

      Crime levels in Cyprus are low and instances of foreigners being targeted are not common. However, petty crimes such as bag snatching and pickpocketing are regularly reported from urban areas. There have been instances of hotel safe deposit boxes and room safes being robbed, so keep your money and valuables particularly carefully.

      Make sure you exchange money in Cyprus only at official currency exchange offices or banks to avoid getting counterfeit notes. If you are found to be in possession of fake euro banknotes, expect the police to be called, and you might face prosecution.

      Do not leave your drinks unattended and do not accept drinks from strangers as they might be spiked. Try not to split up with your friends, and avoid going out with strangers or new acquaintances.

       

      What Information Do I Need to Transfer Money to Cyprus?

      How the recipient wants to receive the transferred money has a bearing on the information you need to provide.

      • In a bank account. You will need the recipient’s complete name, an IBAN, the receiving bank’s name, and the receiving bank’s SWIFT code.
      • At a cash pickup center. Along with the recipient’s complete name, you will to provide the location of a desired cash pickup center. To collect the money the recipient will need to present a transaction number and an acceptable form of photo ID.

       

      Regulations When Transferring Money To and From Cyprus

      A lack of banking regulations in Cyprus led the country to recession in 2012 and 2013, when it was almost on the verge of leaving the euro area. Significant restrictions were then put in place, and Cyprus became the region’s only country to have limits on how much money could leave the country. For instance, individuals could transfer no more than €5,000 per month, and the limit for businesses stood at €1 to €2 million.

      The restrictions have been lifted since, and there are no limits on how much you may transfer out of the country now. However, all transfers of over €10,000 are reported to relevant European Union authorities.

      Convert GBP to EUR

      Check out the historical exchange rates for the last thirty days. Learn how much you can save by using a global money transfer company instead of the big banks.
      GBP
      EUR
      Sending money online through specialist money transfer companies.

      Expect to receive between €107.08 and €107.73 when sending money from GBP to EUR at today's exchange rate.

      Compare that to sending money overseas through retail banks. Expect to receive approximately €102.76, not including additional banking fees. That is an average saving of €4.65.
      Currency exchange rate in the last 30 days

      Need more information?

      Read useful guides on international remittance and more detailed reviews on the best money transfer services.

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