Low monthly subscription
Additional charges up to a limit*
Free Debit Card**
Free ATM withdrawals***
*For specific services. More details below.
**Certain conditions apply. More details below.
***Withdrawals in Euro, by licenced credit institutions’ ATMs within European Union. Withdrawals from ATMs of other payment service providers (e.g. JCC, Euronet) and withdrawals in foreign currencies, are excluded.
Is it right for me?
Our Basic Account gives you just the essentials needed for day-to-day banking, with just €1.50 per month.
Features & Benefits
Monthly subscription of €1.50 for the maintenance of the account, including the following services:
- Account Opening
- Basic Debit Card (Issuance, Renewal and Annual subscription)
- Cash withdrawals in Euro (€), via debit card from ATMs of any Bank (Credit Institution ATMs) within EU, without charge
The following services are charged incrementally, according to the Bank's Table of charges with a maximum (additional) charge per account per year of €18.00, regardless the number of transactions executed by the customer within the calendar year:
- Execution of incoming / outgoing payments up to €5,000
- Cash withdrawals at any branch of your convenience
- Execution of standing orders
- Internal (within HB) money transfers executed at any branch of your convenience
Free for vulnerable individuals. For minimum guarantee income beneficiaries (“EEE”) as well as for customers falling under the provisions of law 64(Ι)/2017 (Asylum Seekers, Political Refugees, Holders of Complementary Protection, Victims of Trafficking and / or Exploitation of Persons) all the above mentioned are provided FREE OF CHARGE
Frequently asked questions
Need help? You can always contact us with any questions you may have, but first check our FAQ list to see if the answer's already here.
With a low fixed amount (monthly account subscription) you may access payment services, which are considered essential for the processing of your daily banking needs. One of the most important advantages of the basic account is that it allows you to withdraw money for free from the ATMs of any bank, either within Cyprus or in any other country of the European Union. In addition, the basic account’s fees are provided in the relevant decrees of the Minister of Finance and based on these, the total charges of the account for the basic banking payment services cannot exceed 36 euros per year.
The cost of the monthly subscription is the one required to cover your basic banking needs. Specifically, with €1.50 per month we provide you with the opening and maintenance of the account, as well as the issuance, renewal and annual subscription of a (simple) debit card.
Basic account holders also enjoy free cash withdrawals in Euro (€), via debit card from licensed credit institutions’ ATMs in the European Union.
It is noted that access to the Bank’s Online Banking can be obtained easily and free by all our customers. For more information click here.
For the following services, when you use them, you will be charged in accordance with the Hellenic Bank's table of commissions and charges (which can be found here, until the total amount of the charges, for these services, reaches €18 during a calendar year.
- Execution of incoming / outgoing payments up to €5,000
- Cash withdrawals at any branch of Hellenic Bank of your convenience
- Execution of standing orders
- Internal money transfers executed at any branch of Hellenic Bank of your convenience (FREE of charge via web banking and mobile app)
Once the total amount of charges for these services reaches the amount of €18 euros in a calendar year, then you stop being charged for these services until the end of that calendar year.
For any services, apart from the services whose charges are limited to €18 per year, additional charges apply for all basic account holders, according to the Hellenic Bank’s table of commissions and charges, without limit on the total annual amount of charge per account:
For the sake of clarity, it is clarified that these services include, among others:
- Exchange commission, whenever there is a conversion between euro and foreign currencies
- Execution of Incoming/ Outgoing Payments more than €5.000
- Urgent Processing of Outgoing Payments (Same Day)
- Charges “OUR” (for Outgoing Payments)
- Annual premium debit card subscription (other than basic debit cards)
- ATM withdrawals, via debit card from non-banks’ ATMs (other payment service providers, e.g. JCC, Euronet)
- ATM withdrawals in foreign currency
For minimum guarantee income beneficiaries (“EEE”) as well as for customers falling under the provisions of law 64(Ι)/2017 (Asylum Seekers, Political Refugees, Holders of Complementary Protection, Victims of Trafficking and / or Exploitation of Persons) the services described in the answers to questions 2 and 3, are provided FREE of charge. Therefore, Hellenic Bank has proceeded, from 02/11/2020, to the automatic conversion of the existing savings accounts of these customers into basic accounts. It is clarified that the remaining banking services (see answer to question 4), are additionally charged for all basic account holders, according to the Hellenic Bank’s table of commissions and charges, without limit on the total annual charge per account.
Basic accounts opened during a calendar year will be charged €1.50 at the end of month the account was opened and will have a pro-rata limit on the total charges for the services included in the answer to question 3, until the end of the calendar year including the month of account opening.
Example 1 - New basic account opened on 05/11/2020: Will be charged €1.50/month starting from 30/11/2020 and will also be charged for the services described in the answer to question 3, until the total amount of charges reaches €3 for the period 05/11 – 31/12/2020 (pro-rata limit of charges for 2 months). Starting from 01/01/2021, the relevant limit of charges will be €18 for year 2021.
Example 2 - New basic account opened on 08/02/2021: Will be charged €1.50/month starting from 28/02/2021 and will also be charged for the services described in the answer to question 3, until the total amount of charges reaches €16.50 for the period 08/02 – 31/12/2021 (pro-rata limit of charges for 11 months). Starting from 01/01/2022, the relevant limit of charges will be €18 for year 2022.
Cash withdrawals from non-credit institution ATMs (e.g. JCC, Euronet), are additionally charged according to the Hellenic Bank's table of commissions and charges, which can be found here.
Same applies to cash withdrawals in foreign currency from all ATMs of any payment service providers, including banks.
In other words, for basic account holders, all euro withdrawals from ATMs of banks within the European Union, are free of charge.
Any debit card can be linked to the basic account. Please note that in case you choose a premium debit card, the relevant annual subscription is not included in the account’s monthly subscription and is charged additionally. This happens for the obvious reason that these cards offer additional benefits, which can be found here.
9. Can I open a joint basic account? What happens if more than one debit cards are linked to the same account?
Yes, the opening of joint basic accounts is allowed. In cases where, more than one basic debit cards, are connected to the same basic account, their respective annual cost is included in the monthly subscription and is not charged additionally.
For premium debit cards, the annual cost is always charged additionally and is not included in the account’s monthly subscription.
You can simply convert your existing savings’ account to basic account easily by submitting the relevant form for conversion of an existing savings' account to basic Account, either by fax / email or by visiting any Hellenic Bank branch.
Alternatively, you may submit your request via Web Banking [Other Services/ Requests/ Convert your Savings Account to Basic] from 18/12/2020 onwards.
If you proceed with the conversion of your existing savings’ account to a Basic Account, your account number and IBAN remain the same, and any direct debits/standing orders will not be affected.
Absolutely none. It is noted that for each account the respective monthly subscription will be charged.
Please note that, customers falling under the provisions of law 64(Ι)/2017 (Asylum Seekers, Political Refugees, Holders of Complementary Protection, Victims of Trafficking and / or Exploitation of Persons) are entitled to open only one Basic Account.
12. I am interested in a cheque book and/or an overdraft limit and/or a foreign currency account. Are these available with the Basic Account?
Cheque books and/or overdraft limit and/or foreign currency accounts are only offered via current accounts and are not available through the basic account.
13. The relevant decrees of the Ministry of Finance provide, amongst others, that in case the total number of transactions for certain services exceeds the limit of 100 in a calendar year, then within this calendar year, charges may be imposed by banks for the transactions exceeding the above limit. What applies for the basic account?
Albeit the right given to banks to impose additional charges as per above, Hellenic Bank’s decision is not to charge additionally for transactions exceeding the aforementioned limit.