The biggest question people ask before they move to Greece is whether they can open a bank account online. As a general rule, foreigners without a Greek Tax Number, or AFM, cannot open a bank account online, so they must visit the bank branch in person. However, depending on the bank branch, it has been recently made possible to open an account online as a Greek resident with an AFM or Greek Tax Identification Number. But, it is always recommended to check with the bank of your choosing first, as each local bank has different policies.

Having a Greek bank account will help you manage your earnings, pay taxes, purchase or rent property, or show the Foreign Office your commitment to move to Greece when you apply for a residence permit.

General suggestions

In most cases, you will need to visit the bank in person to open a bank account, but as an alternative you can hire a lawyer do this on your behalf. Since Greek banks have different procedures, we can help you save the extra hassle and assist you in opening an account. We handle translations, paperwork and appointment scheduling. Just send us an email at info@mygreekexpatjourney.com or book a call for more information.

Before you open a bank account, you must have an AFM or "Arithmo Forologico Mitroou", which is a 9-digit tax number that can be obtained at the tax office. Even better, if you already have a Greek employer, and if they are willing, they may be able to assist you with obtaining an AFM number and help you complete paperwork.

For more information on how to obtain an AFM, refer to our article, How Do I Get a TIN (AFM) in Greece?

How Greek banks operate

Most banks in Greece have limited opening hours – usually from 8am to 2.30 pm – from Monday to Friday; however on Fridays the banks close half an hour earlier. This can lead to long queues, so it's advisable to arrive as early as possible. Larger banks may also open on Saturdays or for longer hours during the week, depending on their location.

Unlike other countries, Greek banks charge you for a fee when withdrawing cash if you use a debit card to withdraw different than the ATM bank branch, usually around €2 or €3.75. This was surprising to me, especially when there were no bank branches of mine nearby to withdraw cash.

However, it has been recently made available to apply for a bank account online. For instance, Eurobank has made this service available for international customers. Please see here.

Required documents to open a bank account

Some documents required by banks for opening an account may need to be notarized and/or translated into Greek from English. Some banks will accept documents written in English, while others do not.

To open a bank account, you will need:

• Passport
• An AFM number (Learn how to get an AFM by reading our latest guide.)
• A valid visa or residency permit
• An official document which proves your mobile number (for example phone bill)
• An official document which proves your address in your country of residence (for example utility bill)
  • Note: if you don’t have a document that proves your address from abroad, then you can wait until you secure a lease agreement in Greece and provide a rental contract, uploaded on TaxisNet, or a utility bill with your name to the bank. See here for more information about how TaxisNet works, and why you need one.
• An official document which proves your income (for example pay slip, or previous bank statements)
• A paper that proves your social security number
• Your most recent annual tax declaration

In addition to the paperwork required, you may be asked to make a minimum donation into their account, which is usually around €250. Sometimes banks also want you to sign a statement to open your account.

Opening a Bank Account with us

We have recently introduced our service, Open A Bank Account in Greece (In-Person) - 5 Business Days with one of our qualified accountants. For a fee of €150, we will process your paperwork and schedule an appointment with a Greek-speaking representative at the bank of your choice. Save the hassle by dealing with all of the paperwork in Greek.

List of popular banks

The most popular banks in Greece are the National Bank of Greece, The Alpha Bank, Eurobank and Piraeus Bank.

• National Bank of Greece (Εθνική Τράπεζα): This is an international bank and financial institution with an extensive network of branches worldwide, and over 500 branches in Greece itself, with a good selection of personal and business account types. You can apply for an account by calling a branch, but you might have to be visit in person to sign paperwork.
• Alpha Bank: This Greek bank was established in the 19th Century, and is currently the second biggest bank in Greece. Alpha Bank offers your basic banking services you might expect such as debit and credit facilities, prepaid cards and reward systems, but also has premium financial services for businesses and entrepreneurs such as loans, investments, savings and insurance.
• Eurobank: The bank offers the facility to open an account remotely, without the requirement for the applicant to visit in person. Eurobank has a convenient mobile app and an E-wallet for digital transactions. It has a good network of branches and ATMs in Greece and its online account offers the full range of services.
• Piraeus Bank: This is a large multinational bank with headquarters in Greece. The website is easy to use, has a big network of ATMs around Greece, and English-speaking staff to help set up your account, as well as a 24-hour service line. There is no minimum deposit required for its basic current account and the bank offers low interest rates, low overdraft rates, optional chequebooks and a debit card as standard.

Making international transfers

When using a traditional Greek bank to make international transfers, they are usually subject to substantial charges. Banks use what is known as the “mid-market” or “interbank rate” rate to transfer and convert money between them. Virtual banks such as Revolut and Wise that offers you both physical and virtual debit cards, have low bank charges for international payments.

Opening a multi-currency account  

There are many benefits to having a multi-currency account. If you're traveling multiple times a year, or receiving funds worldwide, you can hold and manage different currencies in the same account. For instance, Wise is an excellent option to manage your finances across borders. They are giving our users their first transfer up to 500 GBP free. Sign up to Wise now here.

Read our guide on Opening a Multi-Currency Bank Account in Greece.

Can you get by with a virtual bank account?

You can indeed live off a virtual bank account such as Revolut if you wish, however it won’t be enough to demonstrate if you would like to buy property in Greece or hold assets in the same country if you plan to stay here long term. For instance, if you would look to obtain the Financially Independent Persons Residency (FIP), you must have a bank account recognized by the Greek banking system to demonstrate that you have sufficient funds.

Can you open a bank account from abroad?

Unfortunately, many of Greece’s domestic and international banks don’t allow you to open a bank online unless you are a Greek tax resident. Depending on the local bank, some may ask for a video call, or request that you come in person to sign documents. Alternatively, you can open a bank account online with an online bank such as N26, Wise Bank or Revolut.