Banking

Steps

1. Get your AFM (see GR-NIF-TOUS-001), then your TAXISnet codes.
2. Choose your bank and ask for the fee information document (compulsory before opening). Compare several offers.
3. Request a basic payment account if you are refused a standard account: it includes deposits, withdrawals, transfers, direct debits, a payment card and online banking where available; an overdraft is not necessarily included. The bank can still refuse for anti-money-laundering reasons or if you already have a comparable account in the same country (Your Europe).
4. Turn up with your documents. The bank verifies your identity and the origin of your funds (anti-money-laundering rules); it may ask you questions about your situation.
5. Give your IBAN to your employer: in Greece, salary must be paid into a bank account (EURES).

Documents

• Valid passport or ID card.
• AFM (allocation certificate).
• Proof of address (in Greece or in your country) and, often, proof of income or professional situation: the exact list is specific to each bank: ask for it before your appointment.

Costs and timelines

• Basic account: some countries allow annual fees, which must remain reasonable; you receive a fee statement at least once a year.
• Euro payments in the EU: same price as a domestic payment (transfers, withdrawals, cards, direct debits).
• Euro withdrawals in another EU country: the bank cannot charge more than for a domestic withdrawal. For an EU currency other than the euro, conversion fees may be added (the bank or provider must tell you beforehand).
• Mortgage: the bank gives you a standardised European sheet (ESIS) with the total cost and the annual percentage rate of charge; you have at least 7 days to think it over. The amount lent, the term and the down payment asked of a non-resident are up to each bank's policy: compare the offers of several Greek banks.
• Electronic payments and tax: according to EURES, part of your income (30%, up to €20,000) must be spent through electronic payments, failing which a tax applies to the missing part (article 15, paragraph 6, of the tax code). According to EURES, spending made in Greece or in the EU or EEA counts; tax residents abroad required to file in Greece and certain vulnerable groups are exempt. Law 5246/2025 (article 4) extended this scheme for tax year 2026, with the list of expenses that count (food, housing excluding rent, transport, health, leisure…); some health expenses count double, and 30% of certain service expenses paid by card are deducted from taxable income, up to €5,000 per year (AADE circular Ο.3068/2025). See also GR-IMPOTS-TOUS-001.

Common pitfalls

• Arriving at the bank without an AFM. Banks generally ask for it: obtain it before your appointment, and confirm the list of documents with your bank.
• Paying everything in cash. In Greece, card payments count towards your tax (see above): keep your spending on your account.
• Believing you must close your home-country account. It is not compulsory. An employer, an electricity supplier or the authorities cannot refuse your IBAN from another EU country if they accept domestic transfers or direct debits.
• Signing a loan without comparing. Ask several banks for the ESIS and compare the total cost, not just the rate.
• A loan in a currency other than your income. Exchange-rate risk can push up your monthly payments; the ESIS must show this with examples.

What changes by country of origin

• EU and EEA citizens: right to a basic payment account as soon as you are legally resident in the EU.
• Swiss and British citizens (Scots included): the right to a basic account covers people legally resident in the EU; once settled in Greece with your residence permit, you benefit from it. Before that, opening depends on the bank.