On Monday, September 1st, Hellenic Bank becomes Eurobank Limited following its merger with Eurobank Cyprus. This means that after 49 years, the Hellenic Bank signs will gradually be replaced. The Hellenic Bank logo and all related branding will be replaced with the Eurobank group’s corporate identity. The Hellenic Bank logo has already been removed from the main administration building, and according to information obtained by “Phileleftheros,” the goal is to change the exterior of the 52 Hellenic Bank branches within 1.5 to 2 months. The changes will then extend to the interior of the branches, with a full system integration of the two banks expected in about two years.
The main question for customers of both banks is what will change and what will stay the same starting Monday. “Phileleftheros” has compiled the key points for better information.
What Hellenic Bank customers can expect
Accounts, IBANs, and account numbers will remain the same.
Debit and credit cards, PINs, and online/mobile banking passwords will remain active and unchanged. Card limits, payment amounts, and credit card payment dates will stay as they are. Existing cards will be replaced with new ones bearing the Eurobank logo over time. Customers will be informed in advance, and no action is required until then.
The Hellenic Bank Mobile App will continue to operate normally, offering digital options that make daily transactions easier from anywhere. Login credentials will remain the same.
Standing orders, transfers, account terms, and existing checkbooks will remain valid.
Customers will be served by the same branch and the same personal service officer. If a customer wishes to transfer their accounts to a branch of their choice, this is possible. They should contact their service officer for more information.
Contracts, product terms, and interest rates remain unchanged until customers are notified otherwise (account limits and interest rates on existing deposits remain the same). There will be no changes to the provisions of existing contracts as a result of the merger. Interest rates, the interest rate basis, and the margin are defined and governed by the contracts already signed between the bank and each customer for each credit facility.
Transfers between Hellenic Bank and Eurobank Cyprus will now be free of charge, as they are now a single organization. For all other transfers within Cyprus, there is no change, and existing terms continue to apply.
Safety deposit boxes and their operation remain as they are.
When asked which fees/charges (for transfers, payments, etc.) will apply—those of Hellenic Bank or Eurobank Cyprus—the answer is that all charges will remain as they are. For any changes to the fee and commission schedule posted on the Hellenic Bank website, customers will be notified in due time, in accordance with applicable law.
When asked if anything will change with a Hellenic Bank customer’s loan that was approved before the legal merger but has not yet been issued, the answer is: “There will be no change to approvals granted before the date of the legal merger for which the relevant lending/collateral documents have already been signed and all relevant approval conditions have been met, but the loans have not yet been implemented/issued. However, if an approval was granted before the relevant date and a letter of offer is in effect, then the implementation/issuance of the loans is pending, provided that all other relevant lending/collateral documents are signed and all relevant approval conditions are met.”
What Eurobank customers can expect
At this stage, there will be no changes to cards and their functionality will continue as normal. When asked if they will be included in the Blue card rewards program and benefit from cashback, the answer is “not for now,” but the bank is working toward this.
Cash withdrawals from all ATMs in Cyprus remain free. For any changes to the fee and commission schedule posted on the website, customers will be notified in due time, in accordance with applicable law. The cash withdrawal limit from Hellenic Bank ATMs using Eurobank Cyprus cards is €500 per transaction, while the total withdrawal amount is subject to the daily limits of your card.
Card PINs will not change. Card limits, payment amounts, and credit card payment dates will remain as they are. The Eurobank Cy Mobile App and Digital Banking (Personal & Business) will continue to operate normally, and login credentials will remain the same.
When asked if anything will change with the products or services offered by the Eurobank Wealth Management Department, the answer is “no.” When asked if the way investment instructions are given will be affected, the bank’s answer is “no.” All instructions will continue to be given in the same way they were given until now.
What about customers of both banks?
If a customer holds accounts and other credit facilities with both banks, they will be served by both officers until the systems are unified.
The operation of safety deposit boxes is not affected, and the relevant terms and conditions of use remain in effect.
If a customer holds cards with both banks, there will be no changes at this stage, and the limits will remain the same.
If a customer holds loans with both banks, there will be no change to the provisions of the existing contracts as a result of the merger. The interest rates, basis, and margin are defined and governed by the contracts already signed between the bank and each customer for each credit facility.