Bank of Cyprus UK Limited is authorised and regulated
by the Financial Services Authority and is a member of the Financial Services
Compensation Scheme (FSCS) in the UK.
All eligible deposits are protected up to
£85,000 per customer.
This means that if Bank of Cyprus UK Limited was
unable to meet its obligations, our eligible depositors would be able to claim
up to £85,000 from the FSCS. The maximum compensation limit applies per
depositor not per account, so for joint accounts each account holder would be
entitled to compensation up to the maximum limit.
Deposits held in all currencies are protected under
the FSCS.
The FSCS covers all personal customers. It also covers
all unincorporated partnerships and certain self-invested personal pensions and
small self-administered pension schemes. Companies, limited liability
partnerships and mutual associations are covered if they are classed as small.
The definitions at the date of this document are as follows:
A company or limited liability partnership is classed
as small if it meets at least two of the following criteria: turnover of not
more than £6.5 million; balance sheet of not more than £3.26 million; total
number of employees of not more than 50.
A mutual association or partnership is classed as
small if it has net assets of not more than £1.4 million.
The FSCS does not cover deposits held by other banks,
insurance companies, or certain other firms authorised by the Financial
Services Authority.
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