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UK customers escape bank levy

Around 15,000 savers in the UK arm of stricken Cypriot bank Laiki will see their deposits protected under British rules and will escape the Cyprus banking levy.

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Britons fear hit on finances after Cyprus bank bailout

Cypriot banks have been reassuring customers in the UK about using their accounts, following a bailout agreement with international creditors that includes a levy on all the country's bank accounts.

Britons fear hit on finances after Cyprus bank bailout. Credit: Maurizio Gambarini

Lines formed at many ATMs today as people scrambled to pull their money out after word that the €10 billion rescue package Cyprus agreed with its eurozone partners and International Monetary Fund included one-off levy on deposits - an unprecedented step in the eurozone crisis.

The Bank of Cyprus UK and Laiki Bank UK said in statements on their websites today that UK customers' deposits are not impacted by the levy and UK operations are unaffected.

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