Bank of Cyprus Release funds to current accounts

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Cyprus BanksBank of Cyprus froze funds
Back in July 2013 with the economic crisis in Cyprus at its height the bank of Cyprus was forced to freeze deposits, initially all accounts were frozen later clients were able to retrieve small amounts from ATM’s as things begun to stablise and accounts opened up there were restrictions on ‘old’ monies, putting them on hold for an estimated 9 months.
Releasing funds
Bank of Cyprus is in much better position with the liquidity of its cash and therefor has decided to release the tied up funds. The plan is to release the funds in thirds, the first third is to be released from last week, and the second third is to be released automatically on the 31 July 2014, with the last third to be released on the 31 October 2014. For more detailed information please go to
Bank of Cyprus account opening
Eltoma Corporate Services has been operating for over 10 years in the Cypriot marketplace and has excellent relations with many of the banks in Cyprus, if you would like advice or if you would like assistance in opening corporate or personal accounts with the Bank of Cyprus or any other bank please get in touch with one of our specialists.