Alpha Bank Cyprus review

Alpha Bank Cyprus issues a debit card on the mastercard network, so spending draws straight on a current account rather than a separate card balance. Anyone banking with Alpha Bank Cyprus Ltd can use it for everyday spending in Cyprus and elsewhere.

Currency conversion runs at 2.7%, which is the main cost to plan around. On our data that rate ranks 192 of 237 brands, so paying in another currency costs more here than at Wise, at 0.1%, or Bitpanda, at 0%.

Free ATM withdrawals are €0, so taking cash out is a chargeable item rather than a free one. The card ranks 38 of 104 brands on this measure, which is worth weighing before relying on a cash machine while travelling.

The card comes from Alpha Bank Cyprus Ltd, the banking entity that holds the account. A customer who already banks there can pick the card up without opening an account at a new provider, so the money and the card stay with one institution.

It suits customers of Alpha Bank Cyprus Ltd in Cyprus who mostly spend in euros at home and want a debit card for daily use. Frequent travellers or anyone who relies on cash machines will meet the 2.7% conversion rate and the €0 free ATM allowance more often.

Cost is the weak spot, with a cost score of 1.9 and an overall score of 1.9. The card does the basics of a debit card, but on the two measures we track most, free ATM withdrawals and currency conversion, it sits low in the field.

Conversion here is 2.7%, against 0% at Monzo Flex, 0.1% at Wise and 0% at Bitpanda. Monzo Flex and Bitpanda make foreign spending the cheaper option, and Wise sits closer to this card than either of them.