Neobanks in Greece — Wise, Revolut, N26, bunq

Neobanks open in minutes and are great for spending, multicurrency and cheap FX — the perfect day-one bridge before your AFM lands. But they issue foreign IBANs that Greek officialdom sometimes rejects, and their deposit protection varies. Use a neobank as your spending/FX layer and a Greek-IBAN bank for anything official.

Why they’re useful for newcomers

you can have a working multicurrency account on day one — Wise or Revolut open with a passport, before you have an AFM or even before you arrive. That covers cash-flow and transfers while you sort out a Greek account.

The four, at a glance

Wise — an e-money institution (not a bank): cheapest mid-market FX, holds 40+ currencies, easiest to open (passport + non-local address, no residence permit). No deposit guarantee — funds are safeguarded.
Revolut — Lithuanian bank licence: 30+ currencies, free FX to a monthly cap then a markup, all-in-one app. €100,000 guarantee on EUR cash (Lithuanian scheme); crypto/stocks not protected. Usually needs a tax ID for full use.
N26 — German bank: clean EUR account, simple daily banking; €100,000 guarantee (German scheme). German IBAN.
bunq — Dutch bank: multi-IBAN budgeting, paid-only (from around €3.99/month); €100,000 guarantee (Dutch scheme).

On protection, see safeguarded ≠ guaranteed — the bank-vs-EMI distinction matters most for large balances.

The foreign-IBAN caveat (important in Greece)

refusing a euro IBAN because it’s foreign is illegal under EU rules — but in practice some Greek systems still trip on a non-Greek IBAN. The Greek tax authority’s direct debits, some utilities, public-sector salary, and certain landlords may balk at an LT/BE/DE/NL IBAN. Enforcement of the non-discrimination rule is slow.

The practical rule

treat a neobank as your spending and FX layer, but keep a Greek-IBAN account for anything official — tax, utilities, salary, residence-permit proof of funds. Most people in 2026 run both: a neobank from day one, a Greek bank once the AFM lands.

How not to get cheated

two things — (1) don’t assume your neobank carries a deposit guarantee; check whether it’s a bank or an EMI and which country covers it; (2) keep only EUR cash in mind as protected on the bank-licensed ones — crypto and investment balances are not. For FX, compare on the amount received, and always pick “charge in euro” (see DCC).

safeguarded ≠ guaranteed · opening a Greek account · deposit guarantee · DCC — charge in euro

This is general information, not financial advice. Provider features, fees, IBAN type and deposit protection change — confirm on each provider’s current terms. WTP Finance is informational only.

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