Regulatory AlertsGreece: fintech & payments regulation
RegulatedFintech regulated under EU PSD2/EMD2; Bank of Greece supervises payment institutions
- Lead regulator
- Bank of Greece
- Also involved
- Hellenic Capital Market Commission (CMC) for crypto-assets
- Core law
- Law 4261/2014 (transposing PSD2)
- Entry capital
- EUR 20,000 (Payment Institution)
- Approval timeline
- 3-6 months
- Customer assets
- Segregated from own funds
- Data protection
- GDPR · DPA
- Sandbox
- No
Greece implements EU payment directives via Law 4261/2014. The Bank of Greece (BoG) is the primary supervisor for Payment Institutions (PIs) and Electronic Money Institutions (EMIs). The regime is fully aligned with EU standards, requiring authorization for payment services and e-money issuance.
Which licence do you need?
| Your activity | Requirement | Capital | Timeline | Authority |
|---|---|---|---|---|
| Payment processing / gateway | LicencePayment Institution Requires PI license under Law 4261/2014 | EUR 20,000 | 3-6 months | Bank of Greece |
| E-money & wallet issuance | LicenceElectronic Money Institution Requires EMI license under Law 4261/2014 | EUR 350,000 | 3-6 months | Bank of Greece |
| Domestic money transfer | LicencePayment Institution Domestic transfers covered by PI license | EUR 20,000 | 3-6 months | Bank of Greece |
| Cross-border remittance | LicencePayment Institution Cross-border transfers covered by PI license | EUR 20,000 | 3-6 months | Bank of Greece |
| Agent network | Registration Agents must be registered with the BoG | — | — | Bank of Greece |
| Open banking / account information | LicenceAIS/PSP Requires PI license for AISP/PISP services | — | — | Bank of Greece |
| Foreign-exchange services | LicencePayment Institution FX services included in PI scope | EUR 20,000 | 3-6 months | Bank of Greece |
Market-entry checklist
- 1Prepare PI/EMI applicationSubmit application to Bank of Greece with business plan and governance docs.
- 2Secure statutory capitalDeposit EUR 20,000 (PI) or EUR 350,000 (EMI) in a blocked account.
- 3Appoint compliant managementEnsure managers have proven experience and clean criminal records.
- 4Establish AML frameworkImplement robust KYC and transaction monitoring systems per EU directives.
- 5Register agentsIf using agents, register them with the Bank of Greece prior to operation.
This guide is compiled automatically from 0 primary-source documents published by Greece's regulators, reviewed by RegAlert, and refreshed monthly (last updated 2026-07-12). It is not legal advice — always confirm requirements with the regulator or local counsel before acting.