The Bank of Cyprus is revising the terms and conditions of card and prepaid card usage, effective March 31, 2024, and customers have already been informed via 1bank about the new changes that will take effect.
It should be clarified that this is something that happens at regular intervals and that the way cards are used remains unchanged.
In summary, the modifications concern two points:
If you have an account with the bank in your name but wish to issue a card to someone else, e.g., a child, spouse, etc., when they use the card at the ATM, all transactions of the account will be visible.
That is, all transactions of the cards. Yours and not just those of their own card.
The second point relates to sanctions.
The bank has the right to restrict the use of any card, card account, and to refuse the renewal or replacement of the card when the cardholder or authorized cardholder or any of their related persons are subject to sanctions or restrictive measures or prohibitions imposed by the authorities of the European Union (EU) and/or the United Nations (UN) and/or the United States of America (USA) and/or the United Kingdom.
Related persons mean any first-degree relatives (spouse, children, parents) of the cardholder and/or card account holder and/or authorized cardholder or legal entity in which the cardholder and/or card account holder and/or authorized cardholder holds a majority shareholding and/or exercises control over it.
