Switching business bank account in Greece: how it works

Snapshot

Switching a business account in Greece means opening the new account, moving your incoming payments, standing orders and direct debits, then closing the old account once everything has cleared, as of 23 December 2025. There is no account number portability in the European Union, so the new account has a new IBAN that you must share with customers and suppliers. Plan the move around your billing cycle to avoid missed payments.

New IBAN: Yes. There is no IBAN portability in the European Union, so a new account has a new IBAN that you must share with payers and payees.
What moves: Incoming payments, standing orders and direct debits must be re pointed to the new account. Historical statements stay with the old bank.
Typical effort: Mostly your own administration: updating payers, suppliers and recurring instructions. Timing depends on your billing cycle, as of 23 December 2025.
Run both for a while: Common practice is to keep both accounts open until all payments have moved across, then close the old one.

Fees and features as of 23 December 2025Last reviewed 23 December 2025

General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.

To switch a business account in Greece you open the new account, redirect your incoming payments and recurring instructions, then close the old account once nothing else is due to arrive or leave it. Because there is no account number portability across the European Union, the new account comes with a new IBAN, so you must give the new details to customers, suppliers, payroll and any platforms that pay or charge you. Standing orders and direct debits do not move automatically between unrelated providers, so you re create them on the new account. Keeping both accounts open during the transition reduces the risk of a missed payment. Positions are shown as of 23 December 2025.

What switching a business account involves

Switching is mostly an administrative exercise. The mechanics are: open and verify the new account, list every payment that flows in and out, move those flows to the new account, and then close the old account when it is no longer needed. Unlike some consumer switching schemes, a business move is generally manual, so the care is in the planning rather than the banking technology. Where a provider offers help with the move, treat the detail as something to confirm with that provider.

The new IBAN and account number portability

There is no account number portability in the European Union, so you cannot keep your old account number when you change provider. The new account is issued with its own Greek IBAN, which has a fixed length of 27 characters beginning with the country code GR. Anyone who pays you, including customers and platforms, needs the new IBAN, and any direct debits set up by suppliers must be updated to the new account. Build time into the plan to share the new details widely.

Moving standing orders, direct debits and incoming payments

Standing orders that you control are re created on the new account, and direct debits set up by billers are updated with the new IBAN and any mandate details. Incoming payments from customers, marketplaces and payroll need the new account details too. A practical approach is to keep both accounts open for a transition period, watch for the last payments on the old account, and only close it once nothing further is expected. Confirm any closing conditions or fees with the old provider before you close.

What to check before you switch

A clean switch depends on these points, and the timing varies with your billing cycle. Verify with the provider

Every recurring payment in and out, so none is missed when you move. There is no IBAN portability in the European Union, so each payer and biller needs the new IBAN, as of 23 December 2025.
Any fees or notice for closing the old account, and whether minimum balance or contract terms apply. Confirm with the old provider before closing.
Whether the new provider supports everything you rely on, such as cash handling, lending, cards and currencies, before you commit. Verify current features with the provider.

How to switch a business account in Greece

Open and verify the new account, and note its new Greek IBAN, since account numbers do not transfer between unrelated providers in the European Union.
List every incoming payment, standing order and direct debit, then update payers, suppliers, payroll and platforms with the new IBAN and re create your recurring instructions.
Keep both accounts open until the last payments clear on the old account, confirm any closing conditions with the old provider, then close it.

Compare business accounts available in Greece

These providers accept business customers in Greece. Fees and eligibility shown as of 23 December 2025. Confirm current terms with the provider before applying.

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Questions about switching a business account in Greece

Can I keep my account number when switching banks in Greece?

No. There is no account number portability in the European Union, so a new account is issued with a new Greek IBAN. You must share the new IBAN with customers, suppliers, payroll and any platforms that pay or charge you. Plan time to update these before closing the old account, as of 23 December 2025. This is general information, not advice.

How do I move my standing orders and direct debits?

Standing orders that you control are re created on the new account, and direct debits set up by billers are updated with the new IBAN and mandate details. These do not move automatically between unrelated providers, so list every recurring payment and update each one. Keep both accounts open until the changes take effect, as of 23 December 2025.

How long does switching a business account take?

It depends on your billing cycle and how many payers and recurring instructions you have, rather than on the bank technology. A common approach is to run both accounts for a transition period so no payment is missed, then close the old account once the last items have cleared. Confirm any closing conditions with the old provider.

Will switching cost me anything?

It can. Some accounts have closing conditions, notice periods, or minimum balance and contract terms, and the new account has its own fees. Check the closing terms with the old provider and the fee schedule with the new provider before you move, as of 23 December 2025.

Fees, features, and eligibility change and vary by region. This page was last reviewed on 23 December 2025. Confirm current terms with the provider before applying.