The basic payment account — your EU right in Greece

Under EU law, anyone legally resident in the EU has the right to open a “basic payment account” in any member state — and a bank cannot refuse you just because you don’t live in the country where the bank is. It’s a genuinely useful, under-known right for foreigners being given the run-around. It doesn’t waive AFM/KYC, but it blocks a flat “we don’t serve non-residents”.

What it is

the basic payment account (βασικός λογαριασμός πληρωμών), required by EU Directive 2014/92/EU and applicable in Greece. Any EU-legal resident has the right to open one, and the bank may not refuse on the grounds that you reside in another country.

What it covers

everyday banking — cash deposits and withdrawals, a payment card, direct debits, and SEPA credit transfers within the EU, plus online banking where available. It need not include an overdraft or credit, and in some EU countries it may carry a small annual fee.

When a bank can still say no

only on anti-money-laundering grounds — i.e. if you fail KYC (can’t prove identity or meet due-diligence checks). It cannot refuse simply because you’re a non-resident or a newcomer. If you apply for a basic account in a country where you don’t live, the bank may ask you to show a genuine interest (for example, you work there).

Why it matters for newcomers

if a bank is stonewalling you with “we don’t open accounts for non-residents”, an EU-resident applicant can invoke the basic-payment-account right. It does not remove the AFM or KYC requirements — you still need your documents — but it removes blanket residence-based refusal as an excuse.

A related EU requirement

the same directive obliges Greece to host at least one independent fee-comparison website for payment accounts, so you can compare standard charges across banks. (Worth locating the current Greek one when you compare accounts.)

How not to get cheated

know the right exists before you accept a “no”. A legitimate refusal is AML-based and specific; a vague “we don’t do non-residents” to an EU resident is not a valid reason to turn you away from a basic account.

opening an account · bank account fees · AFM (tax number) · neobanks in Greece

This is general information, not legal advice. The right applies to EU-legal residents and is subject to AML rules — confirm specifics with the bank or via Your Europe (europa.eu). WTP Finance is informational only.

Opracowanie i weryfikacja: Redakcja WeekTopPick · Jak weryfikujemy dane