How to open a bank account in Greece

How to open a bank account in Greece

Greece, the cradle of civilization and home of some of the world’s most friendly peoples, is slowly coming back as a strong economy for Europe and attracting newcomers looking to enjoy its fantastic weather, natural wonders such as Meteora and its cultural heritage sites such as the Parthenon.

If you need help with opening a bank account in Greece because you are thinking of moving there or even if you just landed, here is our guide on how to do it.

Documents needed to open a bank account in Greece

The minimum requirements to open a bank account in Greece are the following:

  • Passport
  • AFM or Arithmo Forologiko Mitro which is a tax number (easily obtained)

Some banks may have additional requirements such as as utility bills ad in some cases you will be required to present your credit rating as well. You will be required to sign plenty of paperwork and it is helpful to have a local to help out if you can but in general there will be English speakers on staff.

Can I open a bank account in Greece as a non-resident?

Yes it is possible to open a bank account in Greece as a non-resident and the only special requirement is that you visit a tax office with your passport and birth certificate and get a AFM or the Arithmo Forologiko Mitro which is a 9 digit tax number. Once this is done, just go to the bank of your choice and open an account.

Best banks in Greece

There are dozens of large banking institutions in Greece and they provide more than adequate banking facilities and infrastructure for the average expat, including plentiful ATMs in English (perhaps less so the further you go). The most popular banks in greece and the Piraeus Bank, Alpha Bank, Eurobank and NBG which is the National Bank of Greece. They all have English mobile banking which is handy.

  • Alpha bank: with a full selection of financial products from investment to business to personal accounts, Alpha Bank is a fully featured bank with a large network of ATMs. Outside of all the basic accounts which are affordable and come with debit cards, they have a Gold Personal Banking service with special service lines, personal managers and low interest rate investment.
  • National bank of Greece: with a large network of ATMs and nearly 20 accounts types there will be something to serve you from youths and students to large corporations. Their basic current account comes with overdraft up to 5000 euros depending on conditions, cheques and debit cards included. You can apply over the phone if you want to start the process.
  • Eurobank: a modern bank with an English mobile app and even an e-wallet for online transactions, if you like technology this could be a good option. They have an online account that is fully featured and low cost and the network of ATMs and branches are all around Greece.
  • Piraeus Bank: Piraeus Bank features a large network of ATMs and English speaking staff which is helpful. There is a handy 24 hour phone service line and the list of services and products is comprehensive. For the basic current account, there is no minimum deposit amount, low interest rates, overdraft and cheque books available as well as debit card included.

There will be minimum deposit requirements on accounts and this will vary between 50 and 300 euros with 150 being the average number. Hours of operation are limited between 8AM and 2:30PM every weekday but Friday. On Fridays banks close by 2PM. Exchange rates and out of network AMT use is very expensive and you need to inquire with your bank about your fees.

You will be required to sign a document that states that you cannot use your personal bank account for business purposes as this is illegal in Greece. You are therefore to open business bank accounts if you want to receive and make payments as a business.  Checks are still used in Greece and you can request cheques.

The virtual bank account alternative

Your money transfers out of Greece cost too much

When you send money outside of the EU, you are wasting money. This happens because banks have to convert money to the destination bank’s currency and because they use long past retirement systems they have to excessively charge its customers to make a profit. They will say it is just a small fee, but think about it: if you transfer 10 thousand euros  to India, you only get about 9000 euros worth of rupees and the money can take a month to arrive. This is true.

The financially smart alternative is B2B Pay. The same 10 thousand euro transfer will be over  80% cheaper and you will get 9900 euros worth of rupees back to your home country’s account. You also get your own European IBAN with which you can send and receive money virtually anywhere and in most of the world’s tradable currencies.

Sign Up with B2B Pay

How to open a bank account in Europe

We have a few guides to guide you through the process of opening a bank account in multiple European countries and explaining why a virtual bank account with B2B Pay may be a better alternative if you are transferring money outside of Europe and taking advantage of a better rate.



How to open a bank account overseas

We have a few guides to guide you through the process of opening a bank account in multiple countries all over the world and explaining why a virtual bank account with B2B Pay may be a better alternative if you are transferring money outside of Europe and taking advantage of a better rate.


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