Terms and conditions

New Loyalty Scheme of Bank of Cyprus (“Pronomia Scheme”)

 The below terms govern the operation of the New Loyalty Scheme (hereafter the “Scheme” or the “Pronomia Scheme”) created by Bank of Cyprus Public Company Ltd (the “Bank").

 The Scheme primarily aims at rewarding customers according to their overall relationship and cooperation with the Bank’s group of companies.

 The Scheme starts on 09/05/2024 and will be governed by the below Terms and Conditions (the “Terms").

 TermsandConditions of the Scheme 

  1. The Scheme is addressed to the Bank’s private customers, aged 18 and over.
  2. Excluded from participating in the Scheme are customers who maintain non performing facilities with the Bank or are in bankruptcy proceedings or are bankrupt or maintain accounts in Restructuring & Recoveries Units or are registered in the Central Information Register for the Issuers of Dishonoured Cheques (“CIR”) or are on a sanctions list.
  3. To participate in the Scheme, customers must register and give their consent to the Bank in order for the Bank to be able to access, process, maintain, and share their data among its subsidiaries (specifically Eurolife and Genikes Insurance) daily.
  4. Customers will have the right to withdraw their consent to the Bank at any time, using the Mobile App or 1bank. Withdrawing consent will mean that the customers discontinue their participation in the Scheme.  In the event that customers wish to re-join, they must follow the registration process as described in point 3 above.
  5. Customers participating in the Scheme will be entitled to specific privileges and benefits, which will be announced through various channels.
  6. To be eligible to participate in the Scheme, customers must meet the minimum requirements as listed below:
  • Their salary is deposited into an account they maintain at the Bank, or alternatively they have a minimum annual credit flow greater or equal to €12,000 in their account at the Bank. For pensioners, their pension will be considered as "salary".
  •  Hold at least one card issued by the Bank (debit, credit or prepaid).
  • Be active subscribers to 1bank (having used the service at least once during the last 12 months).
  •  Be consistent in repaying the obligations and any facilities granted to them by the Bank.

     7.  Customers who meet the minimum requirements, as described above, are candidates for inclusion in one of the three Scheme tiers, based on the following additional criteria:

Tier Additional Criteria Details
Silver    1 Additional Product*

 * Additional Products may be the following:

  1. Loan other than housin
  2. Current account with overdraft
  3. Credit card
  4. Eurolife policy**
  5. Genikes Insurance policy (home or car insurance)
Gold    Total deposits ≥ €50,000 + 2 Additional Products* or a Housing Loan
Diamond                         Total deposits ≥ €100,000 + 3 Additional Products or a Housing Loan ≥ €200,000 (initial disbursement amount) + Total deposits ≥ €100,000

** Important note: Eurolife policies counted in the Αdditional Products are those concerning individual contracts. Eurolife insurances linked to the “LOAN CREDIT INSURANCE” group contract concluded by the Bank with Eurolife to cover loans or credit cards or limits on current accounts of its customers are not taken into account.

8.  Where a Deposit/Loan Account has more than one beneficiary/debtor, the full amount of the Deposit/Loan for the purposes of the Additional Criteria is taken into account for each beneficiary/debtor separately.

9.  The Bank reserves the right to amend the minimum requirements and the Additional Criteria without having previously informed customers and without requiring their consent.

10.  The minimum requirements as well as the Additional Criteria will be evaluated daily so that:

  • New members who meet the requirements can be automatically assigned to one of the three Scheme tiers, depending on their status.  To participate in the Scheme, they must register and consent to what is described in point 3 above.
  • Current members already assigned a tier and who are entitled to an upgrade will be automatically assigned to the next upgraded tier.

     Members who have been upgraded to a new/ higher tier will be alerted via message on the BoC Mobile App and/or Internet Banking.

 11.  The minimum requirements as well as the Additional Criteria will be evaluated daily so that: 

  • Members who do not meet the requirements to remain in one of the three tiers of the Scheme, to automatically be removed three months from the last day on which they met the Scheme participation criteria and to no longer be entitled to the Scheme privileges.
  • Members who, due to a change in their cooperation with the Bank, merit a downgraded tier in the Scheme, to automatically be downgraded three months from the last day on which they met the criteria of their current tier, and to henceforth be entitled to the privileges of their newly assigned tier.

       Members removed from the Scheme, or downgraded in tier, will be alerted via the BoC Mobile App and/or Internet Banking.

 12.  Where a member, due to having incorrectly entered his/her data in the systems of the Bank, or Eurolife, or Genikes Insurance, is not assigned a tier  in the Scheme or is assigned a tier  different to that to which he/she would have been assigned had he/she entered the correct data, the data will be corrected and the member will be assigned to the new, correct tier; however, the member will not be entitled to retroactive privileges or benefits.

 13.  Where a member opts to be moved to the PREVILEDGE scheme, he/she is automatically removed from the Pronomia Scheme and is automatically registered to the PREVILEDGE scheme where he/she will be entitled to that scheme's privileges and benefits only. 

14.  Where a member enrolled in the PREVILEDGE scheme ceases to be a member of that scheme, then (1) if he/she was part of the Pronomia Scheme prior to enrolling in PREVILEDGE scheme, he/she will be automatically assigned to one of three tiers  according to the requirements he/she meets at the time in question (2) if he/she was not part of the Pronomia Scheme prior to enrolling in PREVILEDGE scheme, he/she must register with the Scheme and consent to what is described in point 3 above. Provided he/she meets the requirements for joining one of the three tiers of the Pronomia Scheme, then once registered, he/she will be assigned to the respective tier of the Scheme. 

 15.  Members will be able to know at any time the tier they belong to through the BoC Mobile App or through Internet Banking.

 16.  Members will be informed about the privileges they are entitled to according to their tier though various channels.

 17.  At its sole discretion, the Bank may announce to the members of the Scheme additional special privileges and benefits relating either to all the Scheme members, or to selected tiers, or to selected transactions or activities. Members will be informed about the special privileges and benefits and the related specific conditions, via the means described in Term 16 above.

 18.  Members will enjoy the benefits of the tier they are in when applying for a new product and not the tier they will join after acquiring the new product. For example, member A is in the Silver tier and is applying for a new Housing Loan. The member will receive reduced pricing on his/her Housing Loan based on the benefits of the Silver tier despite the fact that after the opening of the Housing Loan the member will join the Gold tier.

 19.  Privileges and benefits available to the member through the Scheme may not be transferred or assigned to any third party.

 20.  The Bank reserves the right to amend these Terms and Conditions at any time. Amendments are made known to members via the Bank's website and/or in any other way the Bank considers convenient. Unless otherwise specified, amendments take immediate effect.

21.  The Bank may at its sole discretion withdraw, suspend and/or interrupt the Scheme at any time, informing the members about this one (1) month beforehand, either via the Bank’s website and/or by any other mode of communication it deems convenient. In this case members will be able to redeem their available privileges within the deadline set by the Bank.

 22.  These Terms and Conditions and any amendments thereof will be governed by the laws of the Republic of Cyprus.