Navigating the Greek banking system can feel daunting at first, but don’t worry. This guide is here to walk you through the process, making it simple and stress-free.
Whether you’re moving here for work, retirement, you’ll soon discover that having a local bank account makes life much easier. From paying utility bills to receiving your salary or transferring funds without any additional fees, it’s an essential step in setting up your new life.
So Can a Foreigner Open a Bank Account in Greece?
Yes, the most important thing to know is that you will almost always need to apply in person at a bank branch. However, before you even approach a bank, there is one document you must have.
Your First Crucial Step is Getting an AFM Number
The single most vital document for any financial transaction in Greece is the AFM (Arithmos Forologikou Mitroou), which is your personal Greek Tax Identification Number. Often pronounced phonetically as “ah-fee-mee”, this 9-digit number is the key to unlocking most of your administrative tasks.
You’ll need an AFM for virtually everything, opening a bank account, signing a rental agreement, buying property, and even setting up basic utilities. Without it, you’ll find it very difficult to get established.
To get your AFM, you must visit your local tax office (called the Eforia). It’s a straightforward process, but it’s vital to ensure all your documents have perfectly consistent information across them to avoid any delays, these typically include:
- A copy of your valid passport for identification.
- Your personal details, including your full home address from abroad and your current temporary address in Greece.
- Your parents’ full names, including both their first and last names.
- Your foreign tax ID number from your country of residence.
- An active mobile phone number.
- A completed authorization form, which you will sign at the tax office.
Important for Spouses: For married couples seeking an AFM, separate applications are required for each partner. You will also need to include your wedding certificate, ensuring it has been apostilled, translated into Greek, and notarized.
The most common cause of delays is inconsistent information. Before you go, double-check that your name, address, and all other details are written exactly the same on every single document. A few minutes of checking now can save you hours later!
Greek Tax ID (AFM) Application Process
The AFM application can be made in person at a local Eforia or by an authorized person (for example, a lawyer or accountant). If the application is not made in person, the authorized representative must bring a declaration specifically empowering them to apply for the AFM on your behalf. Tax offices are generally open from 7:30 AM to 2:30 PM. It’s advisable to call in advance and schedule an appointment to avoid long waits and ensure prompt service.
You have two primary options for applying for your Tax Identification Number (AFM):
- Exclusively Electronically: You can initiate the process online and then identify yourself physically to an employee via videoconference here.
- Physically (In Person): By attending the Tax Office (DOY – Tax Office) of your choice.
To find your closest tax office, you can visit the following official tax office map here.
You can also find a helpful PDF guide from UOA Link here.
How Long Will It Take to Get an AFM in Greece?
Once your documents are submitted, the AFM is usually issued within 2–4 business days. However, the entire process including scheduling appointments and document preparation can take some time if your availability is limited.
Your Second Crucial Step, Open a Bank Account
Navigating Greek bank hours requires a bit of planning. Most branches are open weekdays from 8:00 AM to 2:30 PM, but be aware they shut down half an hour earlier on Fridays (2:00 PM). Given these limited hours, long queues are common, so getting there early (ideally before 9:00 AM) is a smart move. While this is the general rule, some major banks may offer appointments, allowing you to schedule a visit that suits your availability, so it’s always worth calling ahead.
Required documents to open a bank account
To open a bank account, you will need the following documents, be aware that some documents might need to be notarized and/or translated into Greek. While some banks accept English documents, others don’t, so it’s wise to call ahead and check their specific requirements.
- Your AFM number (refer to our latest guide above on how to obtain an AFM).
- Your Passport
- A valid visa or residency permit
- Proof of your mobile number, such as a recent phone bill.
- Proof of your address in your country of residence.
- Proof of income, like a pay slip or recent bank statements.
- A document confirming your social security number.
- Your most recent annual tax declaration.
Sometimes banks may ask you to make a minimum initial deposit into your new account.
Wishing You a Smooth Transition!
Navigating new administrative systems can be challenging, but with the right information and preparation, you’ll find the process of getting your AFM and opening a bank account in Greece to be manageable.
We hope this guide helps you feel more confident and makes your transition to life in Greece as smooth and welcoming as possible. Good luck, and enjoy your time in this beautiful country!
