What exactly does the ban require from 1 October 2026?
From 1 October 2026, a residential or commercial tenant in Greece must pay rent by bank deposit or bank transfer directly into the landlord's declared IBAN account, per Law 5222/2025 as amended by Law 5294/2026. Cash handed over at the door, a cheque, or money sent to the landlord's lawyer, agent or relative on the landlord's behalf will not count as a valid rent payment under the law (greekcitytimes.com, November 2025).
The lease contract itself must now state this in writing: that payment is to be made exclusively by bank deposit or transfer, to a specific IBAN, within the first five days of each calendar month (tovima.com). If you signed before the rule change, expect your landlord to send an addendum. Read it before you sign, and check the IBAN on it matches the name on your lease.
Whose IBAN do I actually pay, and what if there are several owners?
You pay the IBAN the landlord has declared to AADE, and it must belong to the property owner, not to a manager or intermediary, unless that arrangement is itself formally registered (green-estate.gr). If the property has more than one owner, each co-owner declares their own account in proportion to their ownership share, so you may be asked to split a single month's rent across two or more transfers.
This is worth confirming in writing before the deadline, not after a missed payment. Ask your landlord (or their property manager) to confirm the exact IBAN, the split if there is one, and the payment reference to use, typically your name and the lease address. Keeping a screenshot or bank confirmation of each transfer is your evidence that you paid on time, into the correct account.
What do I lose if I keep paying in cash?
Two things: a tax refund, and possibly a housing benefit, both of which only apply if the rent was paid through the banking system. Tenants who do not pay rent by bank transfer will lose access to the housing subsidy and related tax credits, which in some cases reach up to €800 a year, per europeantimes.news (April 2026) and davris-tax.gr.
| Payment method | November rent refund | Housing allowance / tax relief | Counts as valid rent under law |
|---|---|---|---|
| Bank transfer to declared IBAN | Eligible | Eligible | Yes |
| Cash handed to landlord | Not eligible | Not eligible | No, from 1 Oct 2026 |
| Payment to landlord's relative/lawyer | Not eligible | Not eligible | No |
| Cheque | Not eligible | Not eligible | No |
The November rent refund itself is capped, up to €800 per year for a primary residence, plus €50 per dependent child (taliro.gr). It is calculated on documented rent paid through the year, so a year with even a few cash months can reduce or void the claim, depending on how AADE treats partial documentation for that tax year.
Does this affect my deposit or landlord disputes too?
Indirectly, yes. A rent history paid entirely by traceable bank transfer is also the tenant's best evidence in any dispute over arrears, deposit deductions or an eviction claim, because it shows exactly what was paid and when. Conversely, a landlord who has been taking cash off the books loses their own tax deductions for property expenses, which can make a landlord more resistant to any dispute resolution, since their own paperwork is now exposed (davris-tax.gr).
If a dispute reaches the point of a payment order or an eviction claim, both sides' bank records become central evidence, see Eviction Laws in Greece: A Landlord's Guide for 2026 for how that process runs. A tenant who can produce twelve clean transfer receipts is in a stronger position than one relying on a landlord's word that cash was received.
What is the "first five days" rule, and does it apply to me automatically?
The rule that rent must reach the landlord's account within the first five days of the month is being written into leases as they are renewed or amended for the new law, rather than applying retroactively to every clause of every existing contract (greekcitytimes.com). In practice, most landlords are moving all tenants onto this timing regardless, because it is what the tax authority will expect to see reflected in the declared lease terms.
If your existing lease sets a different payment date, for example the last day of the month, raise it with your landlord before October. It is better to agree a written variation than to find out later that your habitual payment date conflicts with what has been declared to AADE.
Who pays the bank transfer fee?
The tenant does, as the payer initiating the transfer, unless the lease specifically states the landlord will absorb it (greekcitytimes.com). This is a minor cost in absolute terms, usually a few euros or free for domestic transfers within the same bank, but it is worth checking if your bank charges for transfers to a different institution, and worth using a standing order to avoid missing the five-day window by accident.
What to do next
Before October 2026, confirm your landlord's declared IBAN in writing, check the ownership split if there is more than one owner, set up a standing order timed to land within the first five days of the month, and keep every transfer confirmation for the tax year. If your lease still names a different payment date or method, ask for a written amendment now rather than after the deadline. mamaXO manages tenant and landlord payments through compliant, traceable channels as part of its lettings service, and if you rent through a mamaXO-managed property, get in touch and we will confirm the correct account details for you.
About mamaXO
mamaXO is an Athens-based property and Golden Visa operator. This guide is produced by the mamaXO editorial team and reviewed by our in-house legal, tax and property specialists. We focus on accurate, source-backed and risk-honest guidance for international investors in Greek real estate.
Sources
- Ministry of Economy and Finance, announcement on postponement of rent bank-payment deadline (30 March 2026), via europeantimes.news.
- Greece postpones mandatory rent payment by bank transfer to October 2026, europeantimes.news.
