Bank of Cyprus: “Best Foreign Exchange Bank in Cyprus” by Global Finance

The Bank of Cyprus has received another important international distinction, being named “Best Foreign Exchange Bank in Cyprus” at the annual Gordon Platt Foreign Exchange Awards – World’s Best Foreign Exchange Banks organized by the prestigious magazine Global Finance.
This award confirms the continuous progress of the Bank of Cyprus, its investment in innovation, and its dedication to providing excellent customer service. A decisive factor for this recognition was the upgraded digital service BOC eFX Convert, which has become a milestone in customer service in the foreign exchange sector.
The success of the product is reflected in the significant increase in both the number of customers and transaction volumes in 2025 compared to previous years. The product has gained trust and adoption not only from existing corporate clients but also from new entities that transferred their execution to the Bank of Cyprus, attracted by the service’s capabilities. In addition, the introduction of the Quick Accounts (in EUR, US Dolar and Sterling) for retail customers is steadily gaining ground and growing in popularity.
Global Finance evaluated bank submissions, recommendations from industry analysts, corporate executives, and technology experts. The criteria for selecting the winners of the Best Foreign Exchange Bank Awards included transaction volume, market share, global coverage, customer service, competitive pricing, and innovative technologies.
Innovation for Businesses and Individuals
The Bank of Cyprus is the only bank in Cyprus offering currency conversion with real-time pricing. For business clients, the Bank’s strategy focuses on real time service, providing live pricing both via its 1bank Internet Banking service and 1bank mobile app, with extended hours from 7:30 a.m. to 11:00 p.m. on weekdays. Retail customers enjoy, through Quick Accounts, benefits similar to those of fintech companies, but with the guarantee and security of the Bank of Cyprus.
Quick Accounts, available to individual subscribers of 1Bank, offer:
- Account opening via 1Bank or mobile app and immediate issuance of a Visa debit card.
- 24/7 currency conversion between EUR, GBP, and USD, with real-time exchange rates.
- Payments in GBP/USD can be made directly from your Quick account in Cyprus via SWIFT, without the need to open an account in the UK or USA.
- Preferential pricing with no foreign exchange commissions and free use for students.
About Global Finance
Global Finance, headquartered in New York with offices worldwide, was founded in 1987. It has a circulation of 50,000 copies and readers in 188 countries, territories, and regions. Its audience includes senior business and financial executives responsible for investment and strategic decisions in multinational companies and financial institutions. Global Finance regularly highlights the world’s leading banks and financial service providers. The awards have become a trusted standard of excellence for the global financial community. They are named in honor of Gordon Platt, who was the driving force behind this program for many years.