Instances of people sending money to Greece from other countries are fairly common, although the reasons may be varied. For instance, while someone might want to pay for a Greek vacation in advance, someone else may want to make a business related payment. In any such scenario, sending money to Greece requires selecting a suitable service provider.
Transfer Money to Greece
- User Rating
- Transfer Type
- Regular Payments
- Mobile App
- Min Transfer Amount
- Two Transfers Fee Free
- 1 - 3 Days
- $250 / £100 / €250
Currency Corridors & Swift Codes
Currency Symbol and Swift Codes
The euro (EUR) has been the official currency of Greece since January 1, 2002, when it replaced the Greek drachma (GRD). One euro is divided into 100 cents.
If you wish to send money to a bank account in Greece, you will need the bank’s SWIFT code. Here are SWIFT codes of some popular banks in Greece.
Popular Currency Corridors
Flow of money in and out of Greece takes place regularly. In 2016, more than U.S. $330 million was sent as remittances to Greece from other countries. In the same year, over U.S. $1.3 billion made its way out of the country in the form of remittances.
The corresponding tables give you an indication of the flow of money across Greece’s popular currency corridors in 2016. The amounts are listed in American dollars.
How Do I Compare Companies When Sending Money to Greece?
You need to pay attention to a few simple aspects when comparing companies that let you send money to Greece.
- Cost of the transfer. Not all companies that transfer money to Greece charge the same fees or provide the same exchange rate. To find the most cost effective way to send money to Greece, simply look at how much money will get to the recipient at the end of the process.
- The time it takes. How long your transfer takes to process depends on the desired transfer method. Transfers to bank accounts in Greece may take up to six working days, depending on where you reside, the selected company, and the recipient’s bank. To transfer money to Greece in haste, consider sending it to a cash pickup location as these transfers usually process almost straight away.
- Paying for your transfer. The most common and widely accepted method to pay for a money transfer to Greece is through a bank account. Finding companies that let you pay using debit and credit cards is not difficult. You can even find companies that accept payments via various region-specific methods such as ACH, SOFORT, iDEAL, and POLi.
- Customer support. Paying attention to customer service levels is important, especially if you plan to send money to Greece from time to time. Websites such as Trustpilot and Feefo give you an easy way to look at what real customers have to say about the top money transfer companies. Select one depending on how you would like to contact a customer service representative, should the need arise. Your options include chat, email, and phone.
How to Transfer Money to Greece?
You get different alternatives from which to choose when it comes to initiating the process of sending money to Greece.
- Online. A number of banks facilitate online fund transfers to Greece. However, most banks tend to falter when it comes to cost effectiveness and speed, and you may be better off turning to a specialist money transfer company instead.
- Over the phone. Some popular money transfer companies let their customers send money to Greece over the phone. Some even provide access to dedicated currency dealers.
- In-person. If you wish to transfer money to Greece in person, compare your local bank with money transfer companies that have offices or agent locations in your vicinity.
Kostas had to relocate from Greece to Australia because of work, and his aging parents continued to live in Greece. They depended on him financially to some extent, which is why he was to keep sending them some money every month. He knew that several leading money transfer companies let him send money to Greece from Australia, so he decided to compare a few with his local Australian bank. The table below shows you the results of his comparison.
|Bank||Money Transfer Service|
|Exchange rate||AUD 1 = EUR 0.6022||AUD 1 = EUR 0.6148|
|Transfer fee||AUD 25||AUD 0|
|Amount received for AUD 1,500||EUR 888.24||EUR 922.20|
|Transfer time||2 to 5 days||1 to 2 days|
|Transfer options||Bank account||Bank account|
|Difference of||EUR 33.96|
Kostas chose the money transfer company over the bank for multiple reasons. His parents stood to receive a little extra money each time, and it would get to them faster. In addition, Kostas could lock in exchange rates for up to six months and also schedule his transfers in advance.
You may consider transferring funds to a cash pickup location if you want to send money to Greece quickly, or in case the recipient does not have a bank account. Popular companies that let you transfer money to physical locations in Greece include Western Union, MoneyGram, and Ria.
|Western Union in Greece|
|Athens Real World Tours 4 Panagi Tsaldari Omonoia Athens||One Xchange Plateia Omonoias Omonoia Athens|
|Thessaloniki Masoutis Paster 12 Paster Thessaloniki||Siprasvili Nougkzari 3 Mak Amynis Thessaloniki|
|MoneyGram in Greece|
|Athens Argo Change Plateia Omonoias 18 Athens||Piraeus Bank 3D Septemvriou 6 Athens|
|Thessaloniki ACS Courier L. Karamanli 2 Thessaloniki||Piraeus Bank Papanastasioy 20-22 Thessaloniki|
While Greece has low crime levels, you should exercise basic safety precautions at all times. Petty crimes such as bag snatching and pickpocketing are common on public transportation, on trains that connect Athens to the international airport, and around popular tourist places. When in Athens, do not venture out in the Omonia and Monastiraki districts alone after dark. Avoid visiting secluded parks as well as down-market restaurants and bars.
What Information Do I Need to Transfer Money to Greece?
You will need to provide some information when sending money to Greece and it varies depending on the transfer method you select.
- Transfer to bank account. Details you need include the recipient’s complete name, an account number, the name of the receiving bank, and the receiving bank’s SWIFT code.
- Transfer to cash pickup center. All the information you require in this case is the recipient’s complete name and the location from where the recipient plans to collect the transferred funds. The recipient may collect the money by presenting an acceptable form of identification document and a transaction number.
Regulations When Transferring Money To and From Greece
The economy of Greece suffered significantly because of the Eurozone crisis in 2008. While the country remains a member state, it has imposed strict capital controls, especially when it comes to money leaving the country.
Until August 2015, outbound overseas fund transfers carried out by individuals from Greece were restricted to €500 per month and businesses were allowed to transfer up to €50,000 per day. Now, individuals may transfer up to €2,000 every two months, and businesses may transfer up to €100,000 per day.
The Bank of Greece watches over the country’s payment systems, and the European Central Bank (ECB) is responsible for setting the region’s single monetary policy.
You can send money to Greece in different ways and by using the services of different companies. Bear in mind that choosing the right service provider requires paying attention to your individual requirements. For added savings, look for ongoing promotional offers.
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