Frequently Asked Questions for MoneyFit

General

  • MoneyFit is available for individual 1bank subscribers with the below eligibility criteria and is currently offered at no charge.

    • have a personal Bank of Cyprus current account, credit card and/or savings account,
    • be registered for 1bank,
    • have the most up-to-date version of the Bank’s mobile banking app (Mobile app) on their mobile device (smartphone or tablet), and
    • have provided marketing consent for digital channels through 1bank
  • MoneyFit is available through the Bank of Cyprus digital channels, Internet Banking and Mobile app.

  • Bank of Cyprus is committed to protecting your privacy and personal data in an open and transparent manner. Any processing of your personal data is done on the basis of the provisions of the "Bank of Cyprus Privacy Statement" which can be found here.

    The Bank does not share your personal data with third parties for the purposes of the MoneyFit service.

  • Joining MoneyFit is a piece of cake. We have made it quick and simple. All we ask is to make sure that:

    -          you have the latest version of the Bank of Cyprus mobile app, and
    -          you have given your consent to receive promotional material through the Bank's Digital

    Channels (marketing consent), as the main purpose of MoneyFit is to provide you with information on BoC products that you may be interested in, based on your financial activity and goals.

    When you log in, there’ll be a pop up or alternatively go to the menu and select MoneyFit. You’ll be guided from there.

  • 24 hours after you joined MoenyFit, you will be ready to go. Logon to the BoC Mobile app or Internet Banking and you will see MoneyFit Insights and MoneyFit budgets on the Home page.
    In case there are no new Insights tab on “View All” button on the right hand side and you will see the MoneyFit Insights Inbox with all read and unread Insights.

  • MoneyFit aims to simplify your life and stay on top of your finances, if needed. Insights are messages that are generated by analysing historical transactions on your account/s. Through this, relevant information, recommendations, and banking incentives can be provided that may help you enhance your banking experience.

  • Within every Insight you will find a feedback section. Please let us know if you like the Insight (thumbs up/down). We will do our best to provide Insights that are of interest to you. There is also a possibility to provide detailed feedback.
    Alternatively, if any MoneyFit Insight content does not make sense to you, kindly share the details with via moneyfitfeedback@bankofcyprus.com. You are important to us and our aim is to constantly improve and “train” MoneyFit to be smarter.

  • You will find the Terms & Conditions for using MoneyFit here.

  • You will find the Data Processing Consent Declaration for MoneyFit here.

  • You can do so from within the 1bank channels, by selecting MoneyFit from the menu and following the guidance for opting out.

MoneyFit Insights

  • MoneyFit examine and analyse the last six months of your account transactions and based on that generates Insights. It looks at previous direct debits, purchases & payments, and spending habits.

  • A transaction/payment is any individual credit or debit in any of your BoC account/s.

  • Categories group together similar transactions to give you an accurate snapshot of where you spend your money each month. For example, the category Dining: Coffee Shop would allow you to know how much of your money went toward lattes (provided that your transactions were made electronically).

    Every transaction is automatically assigned a category.

  • MoneyFit Insights are personalized and unique to your situation and spending habits.

  • Important Insights will only disappear after you tap through to learn more. In general, Insights remain within your Insight inbox for 35 days. Otherwise, new Insights will be generated and replace older ones when you are active on your account.

  • We’re always working to make it as accurate as we can, but there may be times when you see something that’s not quite right. For example, MoneyFit puts payments into categories using information the company has included in the transaction – as a result some transactions may show up in categories you wouldn’t expect. Let us know if you spot anything via the Insight feedback section and we’ll work to correct it.

  • MoneyFit only looks at your transactions/payments over the past 6 months. The merchant will be considered new if you have not frequented the merchant in the past 6 months. In addition, each merchant branch is registered individually.

  • MoneyFit aims to keep you informed so you do not miss out on any transactions that may have occurred automatically. The specific Insight says that your free subscription trial may have ended.
    If this is your usual transaction, the merchant may have changed their merchant description and as result we mistakenly generated this Insight.

  • Some dates related with card transactions shown in MoneyFit Insights may be different to the dates displayed in other parts of my BoC mobile app i.e account transaction history due to the Banks internal system setup.

  • Spend analysis tracks how much you are spending, and exactly where you're spending it, i.e in categories like entertainment. We'll analyse your expenses so you can easily see where exactly your money are spent.

  • It’s simple. On the bottom of the bar charts you will find the periods, simply tab on them and details will be shown for the selected period.

  • You can view up to 5 Insights in Home page. In case there are more Insights, you may tab on “View All” button on the right-hand side and you will see the MoneyFit Insights Inbox with all read and unread Insights which are kept there for 35 days.

  • For the purposes of MoneyFit, all transactions are analyzed and shown in EUR.  In case you own a foreign currency account, the EUR equivalent amount of the account balance and/or account transactions will be used for the purposes of the MoneyFit service and the generation of Insights and budgets.

MoneyFit Budgets

  • Click on the button “Add new budget” or on the icon  in the budget tracker. Both actions will bring you to the smart budget set up view where you can add new budget(s), make changes to existing budgets, or stop them. You can create up to 10 budgets in total.

  • As often as you wish. Keep in mind that any changes on the budget amount may impact the budget status.

  • There are a number of ways of how you can find out where you are with your budgets.
    Once you reach certain budget milestones (25%, 50%, ...) we will notify you via an insight. In addition, the budget tracker will help you to keep track of your budget progress. Beside the actual numbers also a colour on the budget circle will indicate where you stand. If you are over budget the circle will be full and the colour be red.

  • Your budgets are reset every month. In case you wish to see your spending for a specific budget category in previous periods (months) simply select the budget category, next a bar chart will be displayed that shows your average monthly spending for the last 6 months.

800.00.800

+357 22 128000 from abroad
Monday to Friday, 07:45 - 18:00 Saturday and Sunday 9:00 - 17:00

Find your nearest Branch

Or use one of our ATMs for your everyday transactions

Forgot your logon credentials?

Unlock your subscription