Freelancers and self-employed individuals in Greece are obliged to connect their business accounts to the instant payment system IRIS, currently in use in Greece, for free, until the end of Sept. if they wish to meet the extended deadline set by the Ministry of National Economy and Finance.
Starting October 1, the tax enforcement mechanism will begin cross-checks, and professionals and self-employed individuals who do not have IRIS will face a fine of 1,500 euros.
The IRIS service has already registered over 530,000 freelancers and sole proprietorships.
Currently, 1 in 2 citizens—over 3 million with active online banking—have linked their accounts to this immediate payment system.
In 2024, transactions conducted through IRIS reached 34 million, totaling 3.7 billion, reflecting increases of 150% and 116%, respectively, compared to the same period last year.
Citizens registering for the service benefit from completely free transactions—whether between individuals or for payments to professionals—providing a simple, fast, and secure payment method without the need for IBANs, cards, or cash, just by using their mobile phones.
It should be noted that there is a daily 500 euros transaction limit via IRIS per customer with this limit not applying to the total payments a professional can receive in a 24-hour period.
Payments through IRIS can be made from the customer’s mobile phone by scanning a QR code, using RF payment codes or through the IRIS e-commerce service for online shops.
Customers must activate their internet or mobile banking to make payments via IRIS.
A total of 12 banks now providing this service include: Alpha Bank, National Bank, Eurobank, Piraeus bank, Cooperative Bank of Epirus, Viva.com, Optima Bank, Attica Bank, Pancretan Cooperative Bank, Cooperative Bank of Thessaly, Cooperative Bank of Karditsa, and Cooperative Bank of Chania.
