Your cookie choices

We use necessary cookies to make this site work. With your permission, analytics cookies help us understand usage and marketing cookies support advertising.

You can reject non-essential cookies and still use the site. Change your choices anytime in Cookie settings.

Cookie settingsCookie policy

Alpha Bank Cyprus review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.

Our verdict

Alpha Bank Cyprus suits people who bank in Cyprus and want a Mastercard debit card or a cashback credit card from a local bank. The trade-off is cost: the annual fee is €15, currency conversion is 2.7% and free ATM withdrawals are €0.

Key facts

Best for
Cyprus residents wanting a Mastercard debit or cashback credit card from a local bank.
Currency conversion fee
2.7%↗
Free ATM withdrawals
€0↗
Card type
Debit↗
Card network
Mastercard↗
Legal entity
Alpha Bank Cyprus Ltd↗
Headquarters
Cyprus↗
Support channels
Phone, Help-centre↗
Features
Rewards
Official website
alphabank.com.cy

Credit cards

Annual fee
€15↗
APR
15%↗
Rewards type
Cashback↗
Rewards rate
cash returns on everyday purchases↗
Card kind
Credit↗

Mortgages

Purpose
Purchase↗

Facts checked September 26, 2026, 7 sources

Apps and profiles

Get the app
App Store

Pros and cons

Pros

  • The debit card runs on the Mastercard network, which covers most of Europe
  • Credit card spending earns cash returns on everyday purchases under a cashback scheme
  • Help is available by phone and through an online help centre, on phone and help centre

Cons

  • Currency conversion of 2.7% is costly, ranking 210 of 258
  • Free ATM withdrawals are €0, so cash withdrawals cost extra
  • Support runs on phone and help centre, with no instant messaging channel listed
Alpha Bank Cyprus

Ready to try Alpha Bank Cyprus?

Scored 8.5 / 10 by SumCue.

See alternatives

Who it suits

  • Cyprus residents who want a Mastercard debit card from a local bank
  • Cardholders who spend on everyday purchases and prefer cash back
  • Borrowers looking at a home purchase loan alongside everyday banking

Who should look elsewhere

  • Travellers who convert currency often, since conversion costs 2.7% against 0.1% at Wise
  • Anyone who takes out cash regularly, since free ATM withdrawals are €0

The company behind it

The cards are issued by Alpha Bank Cyprus Ltd, based in Cyprus, which makes this a domestic Cyprus bank rather than a cross border money service. Alongside the cards, the bank lists housing loans for the purpose of purchase. Customer support runs on phone and help centre, so a call or the online help centre covers most questions.

How Alpha Bank Cyprus compares

Where Alpha Bank Cyprus is available

Available
Cyprus

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does the credit card cost?+

The credit card carries an annual fee of €15, and the listed interest rate is 15%. Spending on everyday purchases earns cash back under the rewards scheme. Cashback cards sit with a large share of the credit card market, where most cards are credit rather than charge.

What is the currency conversion fee?+

Currency conversion on the cashback credit card is 2.7%. That sits above the site median of 1% and puts the brand at 210 of 258 on this measure. Wise charges 0.1% for comparison.

Which network does the card use?+

The debit card sits on the Mastercard network, so it is accepted wherever Mastercard is taken. The credit card is a credit card, and cashback is the reward type on offer.

Are there free ATM withdrawals?+

Free ATM withdrawals are listed at €0, so cardholders pay for cash machine use. That ranks 44 of 124 against brands compared on free withdrawals.

How do I get help?+

Support runs on phone and help centre, so help is by phone and through an online help centre. Help centres are the most common support channel among the 79.6% of brands listed.

Does it offer mortgages too?+

The bank lists housing loans for the purpose of purchase, alongside a credit card and a debit card. So a property purchase sits within the range of products offered under the same brand.

Who is the provider behind the brand?+

The entity behind the cards is Alpha Bank Cyprus Ltd, based in Cyprus. The brand is built for a domestic market rather than for cross border money transfers, which is where Wise and bunq are stronger.

What are the drawbacks for travellers?+

No free ATM withdrawals at €0 and currency conversion at 2.7% both add cost. Bunq and Wise both price conversion lower, at 0.5% to 3% and 0.1% respectively.

Sources

Compiled from 8 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Monthly fee, Protection.

Related by the facts

Alpha Bank Cyprus

Alpha Bank Cyprus

Cyprus residents wanting a Mastercard debit or cashback credit card from a local bank.

8.5/10See alternatives