For Bank of Cyprus cards
As a result of EU regulatory changes, the licensing arrangement between American Express and Bank of Cyprus will be discontinued in 2019. Cards will be valid until 31 March 2019. Until this date, Cardmembers can continue to use their cards for daily transactions.
In November 2018, the Bank of Cyprus will be sending personal letters with more details on transitioning its American Express customers to a new card. This will include information about the procedure and the timeframe for replacing their existing cards.
Loyalty schemes offered via American Express cards (Supermarket Scheme/Cashback Scheme) will continue to be valid until 31 December 2018, at which date they will be terminated.
In February 2019, the bank will be issuing a new update to announce specially designed privileges for customers affected by the aforementioned changes.
These changes do not concern, and will not impact, cards issued directly by American Express, and their Cardmembers will be able to use these normally.
American Express cards will no longer be issued in Cyprus, but maintaining merchant coverage continues to be a priority and businesses will continue to be able to accept American Express cards. This means that businesses can continue to benefit from spend among American Express Cardmembers visiting Cyprus from abroad for tourism or business purposes.
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