Deposit guarantee in Greece — €100,000 per bank, via TEKE
What it is
TEKE (ΤΕΚΕ), under Law 4370/2016 (the EU Deposit Guarantee Directive), repays depositors of a failed Greek bank up to €100,000 each. It covers ordinary balances — savings, current and term/fixed deposits — of individuals and companies, plus accrued interest.
How the limit works
the €100,000 is per depositor, per bank, and all your accounts at the same bank are added together. A €90,000 savings balance plus a €20,000 current account at the same bank is reimbursed at €100,000, not €110,000. On a joint account the limit applies to each holder separately. If a bank runs several brands, deposits across them still count as one bank.
Temporary High Balances
if your balance is temporarily high because of a specific life event — for example proceeds from selling a property, an inheritance, or an insurance/retirement payout — coverage rises above €100,000 by up to an additional €300,000, for up to 6 months from when the money is credited (the money generally has to arrive within about a month of the qualifying event). The exact qualifying events and timing are worth confirming on teke.gr before you rely on them.
How payout works
it’s automatic — no claim form. When the Bank of Greece declares the bank unable to repay, TEKE builds the list from the bank’s records and pays out, normally within 7 working days (some deposit types can take longer). Any due-and-payable debt you owe the bank is netted off first.
Foreigner lens
the guarantee is identical regardless of nationality or residence — a foreigner’s euro or foreign-currency deposit at a Greek bank is covered to €100,000 just like a citizen’s. One critical caveat: a Greek branch of a bank headquartered in another EU country is covered by that bank’s home-country scheme, not TEKE (also €100,000). Know where your bank is headquartered.
How not to get cheated
the guarantee only covers banks, and only deposits. It does not cover money in an e-money provider like Wise (see safeguarded ≠ guaranteed), nor investments, crypto, or market losses. Before trusting a provider with a large balance, check it’s a licensed bank and which scheme covers you — see how to verify a provider.
Related
safeguarded ≠ guaranteed · investor compensation · who supervises your money · verify a provider
This is general information, not financial advice. Coverage terms can change — confirm the current limit, Temporary High Balance rules and payout timeline at teke.gr. WTP Finance is informational only.