Bank of Cyprus has received another prestigious international award, being named “Best Foreign Exchange Bank in Cyprus” by Global Finance. The Gordon Platt Foreign Exchange Awards are regarded as one of the most important recognitions in the financial services sector, and winning this award confirms that the bank is confidently moving forward, investing in innovation, and continuously improving service quality.
A key factor behind this success is the upgraded BOC eFX Convert digital service. Thanks to fast transactions, a user-friendly interface, and accurate real-time exchange rates, it has become an essential tool for clients who regularly deal with foreign currencies.
Growing Popularity of Digital Solutions
In 2025, Bank of Cyprus significantly increased the number of clients using eFX Convert. The volume of foreign exchange transactions also rose, reflecting strong trust from both business and private customers. The service’s accessibility and ease of use have attracted new companies that previously relied on international fintech platforms.
Among private customers, the fast account-opening feature in euros, US dollars, and British pounds is gaining increasing popularity. It allows users to manage multiple currencies more easily and quickly, while maintaining a high level of data protection and financial security.
Modern Solutions for Businesses and Individuals
Bank of Cyprus remains the only bank in the country offering foreign exchange at real-time market rates. Corporate clients benefit from extended digital service hours—from 7:30 a.m. to 11:00 p.m. on weekdays—enabling companies to carry out financial operations without delays, respond quickly to market changes, and optimize currency-related costs.
Private users of Quick Accounts enjoy benefits comparable to those offered by international fintech companies, while still relying on the safety and stability of a traditional bank. Through the mobile app or online banking, customers can open an account, instantly receive a Visa debit card, exchange EUR–GBP–USD around the clock, and send international payments without the need to open accounts in other countries. Students receive additional benefits, including fee-free currency exchange.
How Global Finance Selects Award Winners
Global Finance is an international publication founded in 1987 in New York, with a readership that includes executives from the world’s largest corporations and financial institutions. The magazine regularly recognizes leading banks worldwide, and its awards are considered among the most authoritative quality benchmarks in the global financial sector. The award is named in honor of Gordon Platt, who oversaw the program for many years and made a significant contribution to its development.
Global Finance reviews submissions from banks around the world and consults industry analysts, corporate executives, and technology experts. Selection criteria include transaction volumes, market share, service quality, price competitiveness, and technological innovation. Bank of Cyprus’s recognition in this category confirms its leadership in the development of modern foreign exchange solutions on the island.