Alpha Bank Cyprus review

The annual fee is €15. That charge applies to the cash back Mastercard, and it has to be weighed against the cash returned on everyday spending, which the scheme describes as cash returns on everyday purchases. Cards with no annual fee at all sit at a median of €0 across the site.

Spending in another currency carries a fee of 2.7%. That is well above the debit card median of 1% and near the upper end of the range, where the highest rate seen is 10.5%. Travellers should factor it in before using the card abroad.

Free ATM withdrawals are €0, so there is no included allowance. The account sits at 41 out of 115 brands compared on that measure, so plan to pay a fee per withdrawal.

It is a debit card, so spending draws on money in the current account rather than building up a balance to repay. The related cash back product is a credit scheme, which is a different arrangement if you want borrowing as well as rewards.

The card runs on the mastercard network, which is accepted widely in shops and online. Mastercard is used by a sizeable share of the cards on the site, so acceptance should not be an issue for everyday spending.

Rewards are paid as cashback, with cash returns on everyday purchases. The features listed for the product include rewards. Cash back is the most common rewards type among the cards compared, at 49.5% of the site mix.

The cost rating here is 2.1, and the overall score is 2.1. The currency conversion fee of 2.7% compares with a site median of 1%, and the annual fee of €15 compares with a site median of €0. The rewards are the main offset.

The provider is headquartered in Cyprus and the card is set up for euro spending, with the card issued by Alpha Bank Cyprus Ltd. Costs quoted in the fee list are in euro. If your spending is mostly in another currency, the conversion fee of 2.7% applies.