Bank Fee Reductions: What's Changing in Transactions

New reductions in bank fees for popular transactions have come into effect following government interventions. The changes apply to individuals (employees, pensioners, and self-employed) using alternative banking networks.

1. Transfers between banks: As of January 20, 2025, the charge for transfers up to 5,000 euros does not exceed 0.5 euros per outgoing or incoming transfer. From August 11, this also applies to other providers.

2. Bill payments: Free payments via electronic services or direct debit for utility companies, public organizations, EFKA (social security), and insurance companies. Charges apply only at ATMs or branches.

3. Prepaid card top-up: Free top-up up to 100 euros per day. For larger amounts, a 1% charge applies (minimum 1 euro).

4. Cash withdrawal from third-party ATM: From August 11, Greek bank cardholders are not charged regardless of the ATM. At third-party ATMs (e.g., Euronet, Cashflex), the maximum charge is 1.5 euros. No charge if the ATM is the only one in a municipal unit. Foreign bank cardholders are freely charged.

IRIS limit expansion: From November, accepting payments via IRIS is mandatory for all legal entities. From 2026, the daily limit increases to 2,000 euros (1,000 for P2P + 1,000 for P2B), with a monthly limit of 5,000 euros for P2P transfers.