To open a bank account in Greece you ll be required: -Name and parent's name, date and place of birth. -Id or passport for the above information if not included there might needed more documents. -Current address -Tel number -Current profession -Bussiness address if you re a businessman -Tax number of your country or ΑΦΜ if you have in Greece. -Past tax return or other document stating your income -Signature Bank may require more documents to prove the above, such utility bill proving your address, pay slips, lease etc Since Foreign documents might also required to be certified. That's what all Greek banks ask for, with small variations. Bank accounts and investing accounts are free in Greece also the fees are very low to zero
You talk about fees...and the cost of getting your own money... but how about the exchange rate itself? Like you said when you transfer $100 US you get a small fee for the transaction... BUT if the exchange rate is 20% (as it is now) you are only receiving $80 Euros... plus the transaction fees... how do you feel about that loss? or, is it a loss? I live here, too and my bank is in the U.S.... I use Paypal's XOOM service to transfer money to my wife's bank account (she is Greek) Because the exchange rate is crazy right now... last year at this time it was only 10%. So what are your thoughts? Curious to get your opinion from someone in the same situation. And I wonder, is TranferWise is a better alternative than Xoom. PS I enjoy your videos. Keep them coming... well I checked and I would only save a few dollars over XOOM... To me the exchange rate is what bothers me the most and there is no escaping it. That said, I think I'll stick with Xoom since I am already using them.
Well it is hard to control the exchange rate, obviously. I also get paid in the US so it’s unavoidable. I did look at Xoom’s exchange rate compared to Wise’a exchange rate. Wise’s was better. Of course the exchange rate is always changing. I also don’t have a bank account here to put money into from Xoom so it wouldn’t work for me. You could always have both and use which one has the best rate on the day of transfer. Thanks! I appreciate you watching and commenting. Are there any other videos you would like to see?
Thanks for this. Need to tell our attorney about this ... both sides lose fees among PayPal, Direct transfers, and ACH fees. When on vacation, my credit card is the go to source -- but past summer was brutal with the 18% conversion. Stay safe. Keep sharing.
Hi tiffany, I am looking into this since I will be living in Greece for a bit and also not interested at least right now to open a bank account. I was just wondering if you knew the difference between TransferWise and Pay Pal. Is it similar? Also, can you deposit physical cash in your transfer wire account?
Hi, Eva! Paypal also has an option called Xoom, I believe. When I checked it after someone else commented about it, the exchange rate was better on Transferwise. I am not sure about the fees though. I have never tried to deposit cash but the next time I go to the ATM, I will see if it is an option. Hope that helps!
Hi! I just wanted to clarify/confirm - you didn’t need to have a Greek bank account to get your residence permit? I am getting super frustrated with the bank opening process here and would love to just stick with Wise!
Thank you! My understanding is no you can't. I would have to open a separate account here but I do wonder now if the fees would be cheaper in terms of pulling money out of the ATM. The other issue is that HSBC doesn't have many branches here. I have only seen one.
This is out of date as there is no Citibank here any more. There is only one HSBC near me and it’s not really close enough for daily banking. Thanks though
If your Greek bank account remains inactive for longer than 24 months it will automatically be frozen and you will need all the items on the list you mentioned to open it.! It ruined my holiday, lucky I had a credit card with me.
I used PayPal when I was in Greece in 2018. It's connected to my American bank account. You probably investigated PayPal I would think as you seem to be very thorough in what you do.
They take too big of a cut to use as a daily banking option. It’s fine for a vacation but not for living here. They also don’t have a debit card that I know of.
Hi! Thanks for making this video! Esp for those of us dreaming of living in Europe 😍. I was wondering if you’ve considered a Charles Schwab account? We got one when we were traveling long term and they don’t charge any withdrawal fees or transaction fees. We normally Zelle from our other US account to Schwab when we travel. Just a thought if you hadn’t checked it out. Thanks again for your content! (Oh also, I don’t work for Schwab or anything 🤣, this is just a tool my husband and I use when we travel)
Hi! You’re welcome. I knew they didn’t but I haven’t looked into it much. I think the issue for me is that Zelle takes a few days and TransferWise is immediate.
There is a list for both the visa and resident permit on my blog. Visa - agirlandherpassport.com/applying-greek-national-visa/ Resident Permit - agirlandherpassport.com/greece-resident-permit/
Thank you! I just realized you are asking about the AFM tax number. I didn’t do it myself so I am not 100% sure but I believe my lawyer needed my passport and birth certificate. There is an application form but they also filled that out. They had a power of attorney to do this for me. Hope that helps n
With this alone $$$ why are you in Greece. What's the magic draw for you personally? How did you get acquainted with Greece. Such a difference from wide open Texas. I know and have at times closely related with someone in Kallithea Athens when he is not extremely weird...stated very politely.
When I came here the first time, I fell in love with it. Everything about it. I love the lifestyle. I haven’t lived long term in Texas since college. Been back for brief periods but it’s not for me.
Thanks for the informative video. It stinks that there is no American bank branch in Athens - that would make things much easier for you and other American expats.
To open a bank account in Greece you ll be required:
-Name and parent's name, date and place of birth.
-Id or passport for the above information if not included there might needed more documents.
-Current address
-Tel number
-Current profession
-Bussiness address if you re a businessman
-Tax number of your country or ΑΦΜ if you have in Greece.
-Past tax return or other document stating your income
-Signature
Bank may require more documents to prove the above, such utility bill proving your address, pay slips, lease etc
Since Foreign documents might also required to be certified.
That's what all Greek banks ask for, with small variations.
Bank accounts and investing accounts are free in Greece also the fees are very low to zero
I forgot about the parent's information. The foreign documents might also need to be translated as well. Thanks for your list!
Thanks for addressing this question with a video, much appreciated :)
You’re welcome!
Thank you. Love your videos always very informative.
Glad you like them!
Living vicariously through them..lol
Anything you would like me to cover in an upcoming video?
@@agirlandherpassport nothing specific, you always have such great content every week.
Thank you so much! I really appreciate that.
I will look it up using your link! Thank you!
You’re welcome!
Unfortunately, us Canadians cannot get a debit/credit card from TransferWise yet.... :(
Well that stinks! I wonder why.
« Coming soon » apparently but no date yet.... I put my name on the waiting list just in case!
That is a little more promising then. Fingers crossed
thank you; very helpful!
You're welcome!
You talk about fees...and the cost of getting your own money... but how about the exchange rate itself? Like you said when you transfer $100 US you get a small fee for the transaction... BUT if the exchange rate is 20% (as it is now) you are only receiving $80 Euros... plus the transaction fees... how do you feel about that loss? or, is it a loss? I live here, too and my bank is in the U.S.... I use Paypal's XOOM service to transfer money to my wife's bank account (she is Greek) Because the exchange rate is crazy right now... last year at this time it was only 10%. So what are your thoughts? Curious to get your opinion from someone in the same situation. And I wonder, is TranferWise is a better alternative than Xoom. PS I enjoy your videos. Keep them coming... well I checked and I would only save a few dollars over XOOM... To me the exchange rate is what bothers me the most and there is no escaping it. That said, I think I'll stick with Xoom since I am already using them.
Well it is hard to control the exchange rate, obviously. I also get paid in the US so it’s unavoidable. I did look at Xoom’s exchange rate compared to Wise’a exchange rate. Wise’s was better. Of course the exchange rate is always changing. I also don’t have a bank account here to put money into from Xoom so it wouldn’t work for me. You could always have both and use which one has the best rate on the day of transfer. Thanks! I appreciate you watching and commenting. Are there any other videos you would like to see?
Thanks for this. Need to tell our attorney about this ... both sides lose fees among PayPal, Direct transfers, and ACH fees. When on vacation, my credit card is the go to source -- but past summer was brutal with the 18% conversion. Stay safe. Keep sharing.
You’re welcome! Glad you found it helpful. Thanks for watching.
Love this helpfu information.
Thank you, Tiffany
You are so welcome!
Hello ,keepsafe
Your new frend ,Watching from Riyadh saudi 🇸🇦 arabia
Thank you! You too!!
Hi tiffany, I am looking into this since I will be living in Greece for a bit and also not interested at least right now to open a bank account. I was just wondering if you knew the difference between TransferWise and Pay Pal. Is it similar? Also, can you deposit physical cash in your transfer wire account?
Hi, Eva! Paypal also has an option called Xoom, I believe. When I checked it after someone else commented about it, the exchange rate was better on Transferwise. I am not sure about the fees though. I have never tried to deposit cash but the next time I go to the ATM, I will see if it is an option. Hope that helps!
Hi! I just wanted to clarify/confirm - you didn’t need to have a Greek bank account to get your residence permit? I am getting super frustrated with the bank opening process here and would love to just stick with Wise!
Hi! I did not. However, things do change but I would at least try without one. You can always get one if you need it.
helpful thx
You’re welcome! Thanks for watching
Charles Schwab has no fees for foreign atm withdrawals.
Several people have told me this since this video came out. I now have to open a Greek bank account so it’s not so much of an issue.
Excellent video. Can you open an account with HSBC bank in U.S and link it to HSBC Greece and access your money in Athens?
Thank you! My understanding is no you can't. I would have to open a separate account here but I do wonder now if the fees would be cheaper in terms of pulling money out of the ATM. The other issue is that HSBC doesn't have many branches here. I have only seen one.
This is out of date as there is no Citibank here any more. There is only one HSBC near me and it’s not really close enough for daily banking. Thanks though
If your Greek bank account remains inactive for longer than 24 months it will automatically be frozen and you will need all the items on the list you mentioned to open it.! It ruined my holiday, lucky I had a credit card with me.
What a huge pain! Good to know though. Thanks for sharing your experience.
That goes for most countries with inactive accounts
Nearly at 1000 subscribers...... comon people help Tiffany get to her goal and Im sure she will make a special video to commemorate her milestone!!!!
Thank you so much! I will get there soon. If I made a 1000 video, what would you like to see?
I used PayPal when I was in Greece in 2018. It's connected to my American bank account. You probably investigated PayPal I would think as you seem to be very thorough in what you do.
They take too big of a cut to use as a daily banking option. It’s fine for a vacation but not for living here. They also don’t have a debit card that I know of.
Hi! Thanks for making this video! Esp for those of us dreaming of living in Europe 😍. I was wondering if you’ve considered a Charles Schwab account? We got one when we were traveling long term and they don’t charge any withdrawal fees or transaction fees. We normally Zelle from our other US account to Schwab when we travel. Just a thought if you hadn’t checked it out. Thanks again for your content! (Oh also, I don’t work for Schwab or anything 🤣, this is just a tool my husband and I use when we travel)
Hi! You’re welcome. I knew they didn’t but I haven’t looked into it much. I think the issue for me is that Zelle takes a few days and TransferWise is immediate.
Hi, what documents were needed for your IFM
There is a list for both the visa and resident permit on my blog. Visa - agirlandherpassport.com/applying-greek-national-visa/ Resident Permit - agirlandherpassport.com/greece-resident-permit/
Thx tifany
Great videos
Thank you! I just realized you are asking about the AFM tax number. I didn’t do it myself so I am not 100% sure but I believe my lawyer needed my passport and birth certificate. There is an application form but they also filled that out. They had a power of attorney to do this for me. Hope that helps n
Sorry AFM
It was easy just showed my Drivers license and a little bit of my Greek charm😄
Haha! Well I don’t have greek charm. Also when did you do this?
@@agirlandherpassport in 2016
Interesting! I was thinking it might have been before the crisis. Maybe the Greek last name? Who knows.
@@agirlandherpassport Yes but truly its a Greek thing
Of course it is!
With this alone $$$ why are you in Greece. What's the magic draw for you personally? How did you get acquainted with Greece. Such a difference from wide open Texas. I know and have at times closely related with someone in Kallithea Athens when he is not extremely weird...stated very politely.
When I came here the first time, I fell in love with it. Everything about it. I love the lifestyle. I haven’t lived long term in Texas since college. Been back for brief periods but it’s not for me.
Is there an age requirement to open a bank account in greece?
I don’t know. That is a really good question. I will see what I can find out and get back you.
🙏😊
Thanks!!
Thanks for the informative video. It stinks that there is no American bank branch in Athens - that would make things much easier for you and other American expats.
Great point.
It would! You're welcome!
It is. I wish one big American bank would open a branch here. Would save me some money for sure!
@@agirlandherpassport Not to mention saving you time and aggravation too!
True!
Those fees suck! 😱
It’s how banks make money I guess. No way around it unfortunately. At least the transfer service I use has lower fees.
Ridiculous
The banking is ridiculous?