The bank clerk in Thessaloniki takes your passport, types for a while, then asks the question you were afraid of: "AFM?" If you do not have it yet, the appointment ends politely and quickly. A bank account in Greece is not hard to open, but it comes after one other document, and it plays a bigger role in Greek life than elsewhere.
What documents do you need to open a bank account in Greece?
- A valid passport or national ID card.
- Your AFM, the Greek tax number. It is the first thing the bank asks. See how to get your AFM.
- Proof of address, either in Greece or in your home country.
- Often proof of income or professional status. There is no national list, each bank has its own, so ask for it when you book.
The bank will also check your identity and the origin of your funds. These are anti-money-laundering rules, and they apply everywhere in Europe. Expect questions about your job, your savings or your pension. Answer them plainly and bring documents.
Can a Greek bank refuse you an account?
An EU citizen who legally resides in the EU has the right to a basic payment account, and a bank cannot refuse it only because you do not live in that country. The basic account includes deposits, withdrawals, transfers, direct debits, a payment card and online banking where the bank provides it, with no overdraft. Some countries allow a reasonable annual fee, and you must receive a statement of fees at least once a year.
Before opening any account, ask for the fee information document. It is compulsory, it is standardised, and it lets you compare banks in ten minutes.
If you are Swiss or British, the right to a basic account covers people legally residing in the EU. Once you are settled in Greece with your residence document, you benefit from it. Before that, opening an account depends on the bank.
Do you have to close your account at home?
Not at all, and many expats keep it. Within the euro area, a transfer, a card payment or a direct debit costs the same as a national one. A cash withdrawal in another EU country cannot cost more than a national withdrawal, apart from exchange-rate fees outside the euro. An employer, a landlord or an electricity company that accepts national transfers cannot refuse your IBAN from another EU country.
That said, a Greek account is useful: your salary has to arrive in a bank account in Greece, your taxes are paid through Greek banks, and some services work more smoothly with a Greek IBAN.
Why does Greece care so much about card payments?
Because of a tax rule. According to EURES, a part of your income, 30% up to €20,000, has to be spent through electronic payments, otherwise a tax applies on the missing portion. The reform law 5246/2025 extended this system to tax year 2026 with a list of eligible expenses: food, housing other than rent, transport, health, leisure and so on. Some health expenses count double. In addition, 30% of certain service expenses paid by card can be deducted from taxable income, up to €5,000 a year (AADE circular Ο.3068/2025).
The practical lesson is simple. Pay by card and keep your spending on your account. Cash is common in Greek daily life, and people still use it, but if you are a tax resident, your tax return will be easier when your spending is documented.
How does a mortgage work for a foreigner?
Greek banks do lend to foreign buyers, but the amount, the duration and the deposit asked of a non-resident depend on each bank's policy. By EU law you must receive a standardised information sheet called the ESIS, which shows the total cost and the annual percentage rate, and you have at least seven days to think before signing. Ask several banks for an ESIS and compare the total cost, not only the interest rate. Avoid a loan in a currency different from your income, because the exchange risk can make the instalments climb. Our guide to buying property in Greece explains the rest of the costs.
What are the common mistakes?
- Going to the bank without an AFM. You will lose an appointment.
- Paying everything in cash. Fine for the baker, a poor idea for your tax return.
- Closing your account at home by reflex. You may need it, for a pension or for a tax refund.
- Signing a loan without comparing. Ask for the ESIS in at least two banks.
What should you do after opening the account?
Give your IBAN to your employer, set up direct debits for your bills, and check that your lease and utilities are in your name. The order of all the steps is in the moving to Greece checklist.
How do you choose a bank for a bank account in Greece?
Greece has a handful of large banks with national branch networks, plus smaller institutions and digital offers. We do not rank them: fees and conditions change, and the document that matters is the standardised fee information sheet each bank must give you before you open anything. Compare three things on it: the annual fee of the account, the cost of the debit card, and the cost of transfers outside the euro area. If you plan to receive a pension or salary in another currency, ask how the bank converts it.
Practical points help too. Check whether the branch near your home really offers the services you need, since a branch network that is dense in a city may be thin on an island, and whether online banking is available in English. Ask whether the bank will give you a card the same day or by post. And ask for the account details in writing, with your IBAN, to hand to your employer or landlord.
What is the order of documents for a bank account in Greece?
The order is the same for nearly everyone. First the AFM, then the proof of address, then the bank. If you are still waiting for your lease declaration or your utility bills, some banks accept a proof of address from your home country, but this is each bank's choice and not a legal right. For a self-employed person, banks often ask for the activity start declaration filed with the tax authority. For a retiree, a recent pension statement is the natural proof of income.
Finally, remember the anti-money-laundering questions are not personal. They apply to every customer, and the bank can ask you to explain a large incoming transfer, for instance the sale proceeds of a house. Keep the contract and the transfer slip with you.