Cyprus is lifting the last remaining capital controls it imposed on its banking system during the financial crisis of 2013.
Cyprus was the only crisis-hit eurozone country to restrict capital transfers, as it faced a run on the banks.
The controls were eased in January.
There will no longer be a monthly cap of €20,000 (£15,000; $22,000) on transfers by individuals to foreign banks, or of €10,000 for travellers moving money out of the country.
Cyprus received a €10bn bailout from the EU and International Monetary Fund (IMF) after its biggest banks nearly collapsed in March 2013 because of huge losses on their Greek investments.
The island's second-biggest lender, Cyprus Popular Bank (also known as Laiki Bank), was wound up and deposits worth more than €100,000 in the largest bank, Bank of Cyprus, were seized.
Those measures were part of the deal to ensure that Cyprus funded part of the €10bn bailout.
