Following news of a 10 billion euro bailout for Cyprus, agreed by the EU and IMF, the Foreign and Commonwealth Office (FCO) are advising all British Nationals who are travelling to Cyprus to take a variety of payment methods with them.

The bailout agreed by the EU and the IMF would require all savers in Cyprus to pay a one-off levy to the government. The levy is between 6.75% and 9.9% of their savings, depending on the amount of savings they have.

News of the possible levy has led to heavy cash withdrawals and to prevent a further run on funds banks in Cyprus are remaining closed today.

As a result of this, the FCO are advising British travellers to Cyprus to take several different forms of payment with them to ensure that they will be able to access funds for the whole of their holiday.

“The Cypriot Government is implementing measures to protect is banking sector. You should check with your bank for further information.”

“We advise those travelling to Cyprus to take different forms of payment with you to ensure you have access to adequate funds (such as pounds, euros, credit and debit cards).”

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