Bank of Cyprus

Banks should be forced to warn people when their savings go above the amount that would be protected if their provider went bust, a survey of MPs and consumers has found.

Around 15,000 savers with the UK arm of stricken Cypriot bank Laiki will have their deposits protected under British rules and will escape the Cyprus banking levy, it was announced today.

Bank of Cyprus's UK customers won't have their accounts raided, the bank insists, following a bailout agreement which could mean Cypriot savers have their deposits taxed.

Bank of Cyprus's 50,000 UK savers are now protected by this country's compensation scheme.

Bank of Cyprus's 50,000 UK savers are likely to be protected by this country's compensation scheme from mid-July.

Bank of Cyprus savers in the UK could get better protection for their cash, as the firm plans to formally become a UK bank .