Cyprus IBAN — What Is It and How Do You Get One? (2026)

The Cyprus IBAN is the bank account number format used in Cyprus for electronic payments. Understanding it — and knowing when you need a “real” Cypriot IBAN versus when Revolut’s works fine — saves a lot of confusion.

What Is a Cyprus IBAN?

IBAN stands for International Bank Account Number. Every bank account in the EU has one. A Cyprus IBAN:

Is 28 characters long
Starts with CY (the Cyprus country code)
Followed by 2 check digits
Then up to 24 digits identifying your bank and account

Example format: CY17 0020 0195 0000 0001 2003 7600

Every traditional Cypriot bank issues CY-prefix IBANs.

What About Revolut’s IBAN?

Revolut is licensed in Lithuania. Your Revolut IBAN begins with LT (Lithuania), not CY.

Example Revolut IBAN: LT12 3456 7890 1234 5678

This is a fully valid EU IBAN. Under EU regulations (the SEPA payments framework), all EU IBANs must be treated equally — a bank, employer, or government department cannot legally refuse an LT IBAN if they accept CY IBANs. This is called IBAN discrimination and is prohibited by EU Regulation 260/2012.

Does the Revolut (LT) IBAN Work for Everything in Cyprus?

In theory, yes. In practice, mostly yes — with occasional exceptions:

Works without issue:

✅ Salary payments from Cyprus employers
✅ EAC electricity direct debit
✅ Water board payments
✅ Internet provider payments
✅ TAXISnet (Cyprus tax registration)
✅ Most landlord rent payments
✅ Cyprus GESY (health insurance) registration

Occasionally problematic:

⚠️ Some older government systems that were built before EU IBAN rules were fully enforced
⚠️ Some older landlords or property agencies who specifically insist on a CY IBAN (technically illegal but hard to fight)
⚠️ Land Registry and property purchase transactions
⚠️ Mortgage applications (must be with local bank)

How Do You Get a Cyprus (CY) IBAN?

You get a Cyprus IBAN by opening a current account at a Cyprus-regulated bank. All of the traditional local banks issue CY IBANs:

Bank of Cyprus
Hellenic Bank
Eurobank Cyprus
Alpha Bank Cyprus
AstroBank
Ancoria Bank

Opening any of these accounts gives you a CY-prefix IBAN.

What Is a SWIFT/BIC Code?

For international transfers (outside the EU/SEPA zone), you also need a SWIFT/BIC code alongside the IBAN. This is an 8–11 character code identifying your specific bank.

Examples:

Bank of Cyprus: BCYPCY2N
Hellenic Bank: HEBACY2N
Revolut: REVOLT21 (Lithuanian)
Wise: TRWIBEB1

For transfers within the EU using SEPA, you only need the IBAN. The BIC/SWIFT code is required for international transfers from the US, UK, UAE, or other non-SEPA countries.

The Practical Answer

For most newcomers to Cyprus:

Open Revolut first — you get an LT IBAN within minutes. Use this for everything to start with.
If you encounter a situation where a CY IBAN is specifically required, open a local bank account (Hellenic Bank or AstroBank recommended).
For property purchase, you will need a CY IBAN — factor this into your timeline.

The vast majority of newcomers discover that Revolut’s LT IBAN works for 95% of what they need. The remaining 5% is what motivates most people to eventually open a local account.

How to open a Cyprus bank account →

Compare all 8 Cyprus banks →