Guide on Cyprus Bail-In Compensation Eligibility, Disbursements, and Claiming Process
The Cyprus Bail-In Compensation program, launched in 2025, aims to provide restitution to individuals who suffered losses from uninsured deposits and bond holdings during the 2013 Cyprus banking crisis, primarily affecting depositors of the Bank of Cyprus and the legacy Laiki (Popular) Bank.
**Who Qualifies**
Eligible applicants for this program are individual depositors and bondholders who lost more than €100,000 in the 2013 bank bail-in. Currently, businesses and organizations are excluded, with potential future inclusion pending legal clarifications.
**Compensation Amounts**
Compensation is calculated as up to 10% of recognized losses, with a maximum individual payout capped at €100,000. For savers with legacy Laiki Bank, the maximum compensation is €100,000, while for Bank of Cyprus savers, the maximum compensation is €13,032. Bondholders with Laiki can receive up to €100,000, and those with Bank of Cyprus can receive up to €99,760.
**Applying and Objecting**
An online application platform is available for claims, active from December 20, 2023, through September 30, 2025. Applicants use their existing CY Login credentials to log in and submit their claims. After verification, applicants receive an email confirming the compensation amount. Payment is made to the applicant’s bank account, which must be in their name or joint names.
If applicants dispute the compensation amount, they can file an objection via the same platform, uploading relevant proof to support their claim.
**Program Details**
This program represents a partial restitution scheme under the 2013 bailout agreement to compensate those affected by the bank bail-in and losses related to recapitalization efforts during Cyprus’ financial crisis. The platform operates entirely online, with no physical visits required. The total compensation per person cannot exceed €100,000, regardless of losses across multiple banks or financial instruments.
The total 2025 budget of the National Solidarity Fund is €100,005,010. Remaining funds will be disbursed gradually, depending on the completion of confirmation and IBAN submissions. As of June 26, 2025, €60 million of the approved €100 million budget has already been paid out. The first payment was made on this date.
Objections can be filed until September 30, 2025. If approved, the amount may be recalculated, and possibly an additional payment will follow. If you do not submit an IBAN, you will not receive the payment.
European individuals who lost more than €100,000 in the 2013 bank bail-in, specifically in Cyprus, are eligible for the Cyprus Bail-In Compensation program. Unlike businesses and organizations, they are the primary recipients of funds within this compensation scheme.
Compensation for qualifying European individuals is based on finance-related losses, with a maximum individual payout capped at €100,000. The Bank of Cyprus and the legacy Laiki (Popular) Bank, which were primarily affected during the 2013 Cyprus banking crisis, are the main sources of these losses.
