Greece (GR)
Greece is a southeastern European republic and EU member state, birthplace of democracy, philosophy, and the Olympic Games, celebrated for its 6,000 sun-drenched islands, ancient ruins from the Acropolis to Delphi, vibrant Mediterranean cuisine, and a warm culture that draws expats, retirees, digital nomads, and Golden Visa investors from across the world.
Banking in Greece
Recommended banks, payment culture and credit score basics.
Greece has four major domestic banks (National Bank of Greece, Eurobank, Alpha Bank, Piraeus Bank) that survived the 2010–2018 financial crisis with significant restructuring. All are now adequately capitalised and under ECB supervision. Capital controls imposed in 2015 were fully lifted in 2019. The banking system is stable but customer service is slow by Northern European standards. Online banking is functional but branch queues remain long. Neobanks (Revolut, Wise) have become extremely popular among expats and younger Greeks.
Recommended banks
Revolut
EnglishMonthly fee: €0 (Standard) / €7.99 (Plus) / €13.99 (Premium)
Requirements: Passport or ID, selfie verification, Greek address (or foreign address). No AMKA required to open.
- + Fully English app and customer support
- + Free currency exchange at interbank rates up to monthly limit
- + Free ATM withdrawals up to €200/month (Standard)
- + Instant account opening online
- + Widely accepted across Greece, EU, and internationally
- + Excellent for managing multiple currencies
- + Can be opened before arriving in Greece
- - Not a full Greek bank — cannot receive Greek government payments (tax refunds require a Greek bank IBAN)
- - Customer support is chat-only — no branch for in-person service
- - Premium features require a paid plan (Plus/Premium)
- - Lithuanian IBAN (LTxx) not always accepted by Greek landlords, employers, or government payment systems
National Bank of Greece (Εθνική Τράπεζα)
EnglishMonthly fee: €3–5/month (maintenance fee for most accounts)
Requirements: Passport/ID, AFM, AMKA, proof of address in Greece, in-branch visit required. Non-EU nationals may need residence permit.
- + Largest Greek bank — largest branch and ATM network
- + Full range of Greek banking products (loans, mortgages, investments)
- + Accepts Greek government payments and tax refunds
- + nbg.gr internet banking with English language option
- + Required for some Greek-specific transactions
- - Branch queues can be very long
- - Monthly fees apply
- - Foreign card usage fees abroad
- - Opening process requires in-branch visit with full documentation
Eurobank
EnglishMonthly fee: €2–4/month
Requirements: Passport/ID, AFM, AMKA, proof of address, in-branch visit.
- + Modern digital banking app (Eurobank Mobile)
- + Good international banking services
- + Strong branch network in Athens and major cities
- + Eurobank Private Banking for higher-net-worth clients
- + English-language service at main branches
- - Monthly fees of €2–4/month apply on most account types
- - Slower than neobanks for everyday use — branch queues and processing times below Northern European standards
- - International SWIFT transfer fees: €15–30 per outbound wire outside SEPA — Wise is significantly cheaper
- - KYC documentation requirements can require multiple branch visits for non-EU nationals
Alpha Bank
EnglishMonthly fee: €2–5/month
Requirements: Passport/ID, AFM, AMKA, proof of address, in-branch visit.
- + Strong English-language customer support at larger branches
- + Good international wire transfer services
- + Alpha e-banking platform is functional and reliable
- + Widely used for Golden Visa and real estate transactions
- - Monthly fees of €2–5/month apply on most account types
- - Limited branch hours — many branches close at 14:00; afternoon visits not possible
- - International SWIFT transfer fees: €15–30 per outbound wire outside SEPA — Wise is significantly cheaper
- - Account opening can take 1–2 weeks with AFM/AMKA verification delays for new arrivals
Piraeus Bank
Monthly fee: €2–4/month
Requirements: Passport/ID, AFM, AMKA, proof of address, in-branch visit.
- + Wide branch network across Greece and islands
- + Competitive mortgage rates
- + e-banking via web and mobile
- - English support is limited — mainly Greek service
- - Monthly fees
- - Customer service slower than Alpha/Eurobank
Wise
EnglishMonthly fee: €0 (no monthly fee; fees on specific transactions)
Requirements: Passport or ID, online verification. No Greek address required.
- + Best currency exchange rates for international transfers
- + Greek IBAN available (GR IBAN from Wise)
- + Receive salary or payments in multiple currencies
- + Debit card with low foreign transaction fees
- + Excellent for paying foreign invoices or receiving foreign income
- - Not a full Greek bank — no overdraft, loans, mortgages, or Greek government payment reception
- - No Wise branches — cash deposits not possible; ATM withdrawals use Wise debit card only
- - Greek IBAN from Wise may not be accepted for all employer salary payments or AADE tax authority registrations
- - Large international transfers may require source-of-funds documentation for AADE (Greek tax authority) compliance
Payment culture
Greece has become increasingly cashless in the past decade, accelerated by mandatory card terminal (POS) legislation and tax incentive requirements. By law, most businesses must offer card payment. However, cash remains used in: farmers' markets (λαϊκές), small tavernas and kafeneions, taxis (officially require card machine but compliance varies), small tradespeople, and in rural/island areas. Contactless (ανέπαφη) is widely available at supermarkets, pharmacies, and large retailers. EFTPOS by law: businesses with annual turnover >€10,000 must accept cards — report non-compliance to AADE. Greeks are also obligated to include a certain percentage of their declared spending via card to receive tax deductions.
Cash access
ATMs (ΑΤΜ) are widely available in cities. Bank ATMs are free for same-bank cards; foreign cards typically charged €2–4 per withdrawal. In rural areas and on smaller islands, ATMs may be limited — plan ahead. During peak tourist season, ATM queues on islands can be very long. Carry sufficient cash when visiting smaller islands or villages. Many ATMs offer English-language interface.
TIRESIAS
Apply at tiresias.gr or at any participating bank branch. The TIRESIAS Credit Bureau holds credit information on individuals and businesses in Greece.
Free annual check: You are entitled to one free credit report per year from TIRESIAS. Request via tiresias.gr or in writing. The report shows all credit obligations, payment history, and any negative entries.
A clean TIRESIAS record is essential for mortgage applications and credit facilities in Greece. Unpaid debts, bounced cheques, or court orders result in negative entries that remain for several years. Greek banks also check the ERGANI system (employment history) and AADE records (tax compliance) when assessing creditworthiness.
International transfers
SEPA transfers within the EU are free or very low cost (max €0.50 at most Greek banks). For non-SEPA international transfers (outside EU/EEA), Greek banks charge €15–40 per transfer. Use Wise or Revolut for international transfers to non-EU countries — significantly lower fees. There are no restrictions on international money transfers from Greece since capital controls were fully lifted in 2019.