In order to send a SWIFT payment to CYPRUS it is highly recommended to meet the following recommendations:
The remitter is required to obtain all necessary bank information from the beneficiary, such as the SWIFT BIC, IBAN, and beneficiary bank address. For further details, you can consult the Central Bank of Cyprus at www.centralbank.gov.cy. SEPA standards are strictly enforced for euro payments to Cyprus, requiring both IBAN and SWIFT BIC. Ensure the account number, full name (avoiding initials), and address of both the ordering and beneficiary customer are included in the payment instructions, using SWIFT MT103 format. Failure to observe these details may cause delays in processing payments. The beneficiaries' bank must also include its SWIFT BIC, full name, and address, complying with SEPA formatting rules.For the following financial institutions in CYPRUS you can find a list of their correspondent banks with the currencies and nostro accounts. Also you will find an instructions how to track the payments and other useful information which will help you to send/receive a SWIFT funds transfer or investigate a status of existing payment.
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