An Athens court has ruled that a monthly fee imposed by National Bank of Greece (NBG) on basic deposit accounts is illegal and must be stopped immediately, marking a significant consumer protection decision that could trigger wider scrutiny across the banking sector.
The Athens Court of First Instance found that the €0.80 monthly charge applied to “Simple Savings” and “Simple Current” accounts constituted an abusive and non-transparent practice. The ruling follows legal action brought by the Greek consumer rights organization EKPIZO.
According to the court, the bank must cancel the charge and refund all amounts already deducted from customers. It also imposed a €50,000 fine, citing violations of transparency obligations under Law 4537/18.
According to a report in To Vima, the bank rebranded basic accounts as “privilege” packages while advertising “free transactions”. The court determined that many of the services included in the package, such as standing orders, IRIS payments up to €500, and issuance of account statements, were already available at no cost under standard account terms.
The ruling also slammed the bank’s notification method, which sent customers letters giving a two-month opt-out window before automatically activating the charge. The court found this approach misleading and non-compliant with transparency requirements.
The decision is final and legally binding, and could influence broader developments in the Greek banking sector. According to reporting by To Vima, EKPIZO has already initiated similar legal action against another systemic bank, while complaints are being reviewed regarding a third banking institution allegedly using such practices without adequate disclosure.
What should consumers do
EKPIZO is urging National Bank customers to review their account statements, confirm whether any refunds have been issued, and contact the bank if charges continue to appear.
In the meantime, the body is also calling on the country’s independent market supervision authority to step up oversight of banking fees and subscription-style account models.
The ruling adds to growing scrutiny of banking “package” accounts in Greece, particularly where core services are bundled and monetized under limited transparency.
