Co-op freezes defaulters’ accounts

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Co-op freezes defaulters’ accounts
 © CyprusMail 2018
The Co-op bank on Friday froze the savings accounts of a number of its customers with non-performing loans in a bid to force them to come to an agreement with the lender regarding their dues.

The bank said it had frozen term deposit accounts of people who owed money but were not servicing their loans. The freeze depended on the amount the people owed.

If they had more cash in their account than the amount owed then the balance will be withdrawn. If it was less, the whole amount was frozen.

Savings accounts were frozen from €2,500 upwards. Current accounts were...


This article was automatically added to our system 22-6-2018

Co-op freezes defaulters’ accounts


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