Your payment rights in Greece (PSD2) — and the one big gap

Under EU payment rules (PSD2, in Greek law as Law 4537/2018) a transaction you did not authorise must be refunded fast — by the end of the next business day after you report it — with your liability capped at €50, often €0. But there’s a crucial gap: if a scammer tricked you into approving the payment yourself, that counts as authorised, and the automatic refund does not apply.

Unauthorised transaction — your core right

if money leaves your account through a transaction you did not authorise (card fraud, a hacked account), once you notify your bank it must refund you by the end of the next business day (D+1) and restore the account to where it would have been. The bank can delay only if it has reasonable grounds to suspect you of fraud, and must then notify the authorities.

Your liability is capped

for unauthorised use of a lost or stolen card your loss is capped at €50 if you reported promptly and weren’t grossly negligent — and €0 where you could not have known (a data breach or a cloned card). You must report unauthorised or incorrect transactions without undue delay, and no later than 13 months after the debit.

The big gap — “authorised push payment” (APP) fraud

if a scammer manipulates you into authorising the payment yourself — you entered the code, you sent the IRIS or the transfer — it is treated as authorised, so the D+1 refund right does not automatically apply. This is exactly why IRIS, transfer and crypto scams are so dangerous: you approved them. EU reform is debating whether banks should reimburse social-engineering victims, but as of 2026 there is no automatic right. Here, prevention is the only protection — see the two rules.

Card chargeback

for card payments, if goods or services aren’t delivered or a trader breaches your rights, you can request a chargeback through your card issuer. This follows card-scheme rules with time limits (commonly around 120 days — confirm with your issuer). It’s a key reason to pay larger or riskier purchases by card rather than IRIS.

Other useful rights

Your provider must respond to a payment-services complaint within 15 business days (up to 35 in exceptional cases).
Euro direct debits carry an unconditional 8-week refund right.

How not to get cheated

the protections are real but they reward speed and the right rail. Report unauthorised activity the moment you see it; pay anything you don’t fully trust by card (chargeback) rather than IRIS (no undo); and remember that being tricked into approving a payment is the one case the rules don’t cover for you. To act, see where to report fraud.

two rules against scams · where to report fraud · IRIS (no chargeback) · card & payment scams

This is general information, not legal advice. PSD2 rights are EU-harmonised but practice and reform evolve — confirm current details with your bank, the Bank of Greece, or an adviser. WTP Finance is informational only.

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