SWIFT BIC: CCBKCY2N Deactivation

Frequently asked questions

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1. What has changed?

On 14 November 2020 ex Co-operative Cyprus Bank SWIFT (BIC: CCBKCY2N) was deactivated.  

2. What does this affect?

SWIFT BIC is used with the IBAN (International Bank Account Number) for the processing of payments such as credit transfers, standing orders and direct debits, between accounts held at different banks. This includes both local and cross border payments.  

From now on, for any payments to Hellenic Bank customers, only the new ΙΒΑΝ and Hellenic Bank SWIFT BIC should be used (ΙΒΑΝ: CYXX005…, BIC: HEBACY2N). You should remember that in September 2019, during the integration of accounts transferred from ex Co-operative Cyprus Bank into Hellenic Bank systems, for each account, a new number was given and an associated IBAN as well.

3. What has Hellenic Bank done so as to minimise disruption of your payments?

All necessary arrangements were made with the below local payment initiators, so that payments are processed using the new IBANs and the Hellenic Bank BIC: 
 - Government departments/services 
 - Central Bank of Cyprus, commercial banks and other financial institutions 
 - Utility organisations, insurance and other companies who are initiating direct debits

4. How have you been informed up to now?

  • - In June 2020 we sent a letter to all customers who receive cross-border direct debits, suggesting that they inform foreign creditors of their new IBANs.
  • - In September 2020 we sent a relative letter, together with August monthly statements by post, attached to the e-statements and via  Bank Μail within Hellenic Bank Web Banking for customers who obtain their statement electronically.
  • - All customers who receive incoming credit transfers from abroad have been directly informed by their branches, by phone or my email and have been consulted to provide to cross-border payment initiators,  their new IBAN.
  • - Announcements were also in the Press on 13 September 2020.

5. What have we asked you to do?

  • - In your instructions to credit transfer or direct debit initiators, you should give your new IBAN and the Hellenic Bank BIC: HEBACY2N.
  • - Customers with accounts transferred from ex Co-operative Cyprus Bank, need to timely inform current credit transfer initiators (e.g. for invoice settlement, for salary/payroll etc), to ensure smooth processing of their incoming payments as of  16 November 2020.
  • - As of 16 November 2020, for any new payment instruction you initiate from any other bank to credit or debit an account of a Hellenic Bank customer, you should only use IBAN starting by CYXX005 and the corresponding SWIFT BIC: HEBACY2N.

6. Where can you find your new IBAN?

7. I am a customer of ex Co-operative Cyprus Bank. What can I do if I face a problem with my payments because of this change?

In case you realise that any payment you expected in your account has not been credited/debited and you have reason to believe that this is due to the deactivation of SWIFT BIC: CCBKCY2N or to the use of your old IBAN in payment instructions, please contact our Customer Contact Centre or your Account Manager or your Branch. 

Possible problems that you may face, post SWIFT BIC: CCBKCY2N deactivation

(a) SEPA Direct Debits – Local debits:

We have informed local Creditors with our customers new IBAN at 99,9%. Unfortunately,  a small number of Creditors have not responded to us, resulting to a minimal number of mandate authorisations for which Creditors are still using old IBAN.

If a Creditor, that you have authorised to debit directly your account by a SEPA Direct Debit, has not replaced your old IBAN with the new, this Creditor should address Hellenic Bank to receive appropriate update information. If you wish, you can inform them directly.  

(b) SEPA Direct DebitsCross-border debits:

In case you have not informed foreign creditors that send you direct debits from abroad with your new IBAN, any direct debits will be rejected before these can be delivered to Hellenic Bank. When this happens, creditors will reach to you to inform you of this rejection. You will then need to inform them of your new IBAN. If the direct debit relates to an internet purchase of a product or service, your order could be cancelled.  

If you do not know your new IBAN, you may use one of the ways indicated in question no.6.

If any of your payments, is urgent, we can offer a SEPA Credit transfer even a Same Day service.

(c) SEPA Credit Transfers / SWIFT Credit Transfers – Local credit transfers:

i. Government payments

All government departments have been provided with the new IBAN of all beneficiaries. Please contact Hellenic Bank if you have problems with a government payment you were expecting and seems unusually / unjustifiably delayed.

ii. Regular credit transfers from Standing Orders with other banks 

All local banks have been provided with the beneficiary IBAN relating to standing orders in their systems. Please contact Hellenic Bank if you have problems with a standing order you were expecting to be credited to your account from another bank and seems unusually / unjustifiably delayed.

iii. Payroll / Salary from other bankscustomers / Other credit transfers from other banks’ customers

In case your salary / payroll or other credit transfer seems unusually / unjustifiably delayed please inform your employer / the sender. Make sure that the credit transfer sent to your account has been executed successfully by his bank . If needed give him your new IBAN.

If you do not know your new IBAN, please use one of the ways indicated in question no.6.

iv. Credit Transfers to accounts of KEDIPES customers

In case you have sent a credit transfer to an account in KEDIPES and this was returned due to using an ex Co-operative Cyprus Bank IBAN, please contact KEDIPES to obtain revised instructions for your credit transfer.

(d) SEPA Credit Transfers / SWIFT Credit Transfers – Cross-border credit transfers

In case you experience delay in receiving a credit transfer from abroad, please make sure you have provided the initiator abroad with your new  ΙΒΑΝ.

If you do not know your new IBAN, please use one of the ways indicated in question no.6.