Personal Data Protection

In order to carry out its banking activity and satisfy your needs, Banque SBA is required to collect and manage some of your personal data such as your first names, names, addresses or nationality.

Within the framework of a new European regulation GDPR, Banque SBA guarantees your new rights in the field of the protection of personal data and implements actions so that you can exercise them simply.

From now on you have the right to access, modify, delete, and limit the use of your data and you have the right to the portability of your personal data.
At any time, and without any charge, you can ask the bank not to use your data for commercial purposes, in particular to offer you new services.

The team in charge of client data protection has been appointed by the bank. To exercise your rights or to have more information, you can contact them by e-mail at the following address dpo@eblf-sbacyprus.com or by mail to:
Banque SBA
(To the kind attention of the Compliance Department)
Kanika Enaerios Complex – Block 1
Iris House 8C, John Kennedy Street - Limassol, Cyprus

See our Personal data protection policy and our Responsibility charter for personal data.

Cookie Policy

This website uses cookies. We use cookies to improve the performance and features of this website, carry out visit statistics with a view to display suitable content and offer some social sharing buttons on certain websites. This allows us to offer you the best experience possible.

A cookie is a small file holding a modest amount of data to be identified by a name and that can be sent from a website to the web browser. Your web browser will store it for a certain period of time and will resend it to the web server each time you log in.

Cookies are stored on your computer’s hard disk and can be read and updated each time you log in. A cookie cannot be used to collect data stored in the hard disk nor to obtain your email or any other information related to your private life (other than the data you provide us with).

Declaration related to cookies, updated on the 01.10.2018 by banque-sba.com:

Necessary

Necessary cookies help to make the website useable by activating basic functions like page navigation and access to the secure data services. The website cannot operate properly without these cookies.

Statistics (6)

Statistic cookies help us, by gathering and sharing information anonymously, figure out the interaction of visitors with the website

Marketing (9)

Marketing cookies are used to carry out the follow-up of visitors through websites. They also allow us to assess the efficiency of the social sharing tools and search engines.

Managing Cookies in Your Browser

You can choose to refuse new cookies, have your browser notify you when you receive a new cookie, or disable cookies altogether. To help you, here are the most commonly used links to the Help sections of different browsers:

• Internet Explorer™
• Safari™
• Chrome™
• Firefox™
• Opera™

For further information on how cookies work and about targeted ads, you can visit:

• www.youronlinechoices.eu
• www.allaboutcookies.org

Please note that by setting your browser to refuse cookies, some features, pages, and parts of the site may not be accessible, which is not under our responsibility.

When you object to the use of cookies, a refusal cookie is installed on your device. If you delete this refusal cookie, your choice will no longer be recorded. Similarly, when you consent to cookies, a consent cookie is installed. These consent or refusal cookies must be kept on your device.

FGDR

Created by law, the Fonds de Garantie des Dépôts et de Résolution FGDR compensates depositors, for an amount up to €100,000 per person, per institution, when a banking institution fails. A guarantee that benefits all bank customers, private individuals, businesses of any size, associations. Click here for more information.

Download the Brochure of presentation of the FGDR activities.

Single Euro Payments Area (SEPA)

What is SEPA?

SEPA stands for Single Euro Payments Area. It is a European harmonised framework that enables individuals, businesses, financial institutions and public authorities to make and receive euro payments under the same basic conditions, rights and obligations whether the transaction is domestic or cross-border within the SEPA area. Introduced following the launch of the euro in 2002, SEPA was designed to create a unified European market for electronic euro payments. Its objective is to strengthen the euro, enhance competition, increase transparency, and promote financial integration across Europe.

Which countries participate in SEPA?

SEPA currently includes 41 countries:

• 27 Member States of the European Union (EU ) of which 21 are members of the Eurozone/Euro area
• 3 countries of the European Economic Area (EEA).
• 11 non-EU countries, to which the geographical scope has been extended.

European Union (EU) – Eurozone countries (21 countries)

European Union (EU) – Member States with currencies other than the euro (6 countries)

European Economic Area (EEA) countries - (3 countries)

Non-EU countries (within SEPA geographical scope)

Who is SEPA for?

SEPA is designed to serve:

• Private individuals
• Businesses and corporations
• Banking institutions
• Public authorities
• Government and public administration bodies

It ensures that euro payments across participating countries are executed as easily and efficiently as domestic transfers.

What types of SEPA transfers are there?

SEPA offers three main payment schemes:

1. SEPA Credit Transfer (SCT)

SEPA Credit Transfer allows the transfer of euros between bank accounts in SEPA countries.

Suitable for:

• One-off payments
• Salaries
• Supplier invoices
• Bill payments

Execution time:

• Generally completed within one business day
• If initiated on a weekend or public holiday, execution occurs on the next business day

Maximum amount per order:

€999,999,999.99

2. SEPA Instant Credit Transfer (SCT Inst)

SEPA Instant enables real-time euro transfers 24/7, 365 days per year.

Suitable for:

• Urgent payments
• Immediate settlements
• Time-sensitive transactions

 

Execution time:

• Processed within 10 seconds
• Funds are immediately available to the recipient

 

Maximum amount per order:

Up to €100,000 (subject to scheme limits and applicable regulations).

 

3. SEPA Direct Debit (SDD)

SEPA Direct Debit allows a payee to collect euro payments from a payer’s bank account, based on a signed mandate.

Suitable for:

• Recurring payments
• Utility bills
• Subscriptions
• Loan instalments

Execution time:

• Executed on the agreed due date

Maximum amount per order:

As agreed between the parties under the mandate

What information is required for a SEPA transfer?

To initiate a SEPA payment, the following information is required:

• Name of the recipient (individual or business)
• Recipient’s IBAN
• Exact transfer amount
• Currency (must be euro)
• Name and address of the sender

Under Regulation (EU) No 260/2012, IBAN discrimination is prohibited. This means that IBANs issued by payment service providers in any SEPA country must be treated equally, provided they are reachable through SEPA.

Payments must also be authorised using strong customer authentication methods in accordance with applicable regulatory requirements.

How do SEPA payments work at Banque SBA Cyprus?

At Banque SBA Cyprus Branch, SEPA payments can currently be initiated through:

• Your local branch

Both the sender’s and recipient’s accounts must be located in SEPA countries, and the transaction must be denominated in euros.

In rare cases, certain accounts may not be enabled to receive SEPA payments. In such circumstances, the receiving bank may apply charges or reject the transfer in accordance with its internal policies.

*SEPA services are not yet available via e-banking or mobile banking platforms.

Fees and Charges

For more information regarding SEPA charges, please refer to the General Pricing Terms and Conditions Applicable to Individual Customers or to Business Customers, as appropriate.

What are the differences between SWIFT and SEPA?

Both SWIFT and SEPA allow you to transfer money internationally, but there are some key differences between them.

Coverage

SWIFT has a global reach, allowing financial institutions to send and receive money worldwide. SEPA focuses on the Eurozone/Euro Area and on SEPA countries within Europe.

Speed

SWIFT payments may take several days to settle, especially where correspondent banks are involved. By comparison, standard SEPA transfers are usually executed within 1–3 business days, unless processed as SEPA Instant payments.

Currency

SEPA transactions are limited to payments sent in euros while SWIFT allows for payments in any currency.

Regulatory Framework

Banque SBA Cyprus fully supports SEPA payments in compliance with the applicable European and Cypriot legal framework, including:

• Regulation (EU) No 260/2012 – sets technical and operational requirements for euro credit transfers and direct debits.
• Directive (EU) 2015/2366 (PSD2) – ensures secure, transparent, and efficient payment services
• Regulation (EU) 2024/886 – requires instant euro credit transfers, executed within seconds, 24/7

These rules ensure that all euro payments within SEPA are processed in a secure, harmonised, and reliable way, giving customers efficient and fully integrated payment services across Europe.

• DAC6: Link
• Framework Agreement for Payment Services: Link
• Data Subject Request Form: Link
• Pivacy Notice for Job Applicants: Link
• Terms and Conditions for Fixed Term Deposit: Link
  
  • Fixed Term Deposit Application Form: Link