Deposit Accounts: What are the benefits for your firm?

Liquidity is essential for the stability and the growth of your business. Every business needs strong reserves of ready cash, from the moment it opens its first company account. This type of account is used for all business transactions, including the staff’s payroll, standing payment orders, and the management of company collections.

Accordingly, if you run a business, you can check out the available options and various benefits, such as an overdraft facility and other benefits across the entire range of a company’s transactional needs, in combination with other banking products that may interest you.

Account types

Business accounts can be credited with amounts arising from transactions, whether in cash or online, such as card payments, direct debit orders, money transfers, credits or collections through an e-shop.

A sight account is the basic tool that all businesses need to have up and running with a bank, and is used for the entire range of business transactions. According to the Bank of Greece, in 2021 active sight accounts numbered circa 10 million out of a total of 36 millions deposit accounts in Greece.

Time deposit accounts. Businesses can deposit their funds in time deposit accounts and thereby safeguard the initial capital deposited while enjoying higher returns at maturity.

The benefits

Banks offer their business customers a host of attractive product packages that include:

Substantial discounts on incoming or outgoing remittances, up to a certain amount. Such discounts can be helpful particularly considering the volume of transactions carried out by businesses in Greece and abroad each month.
Overdraft facility, which offers access to cash up to a certain limit, linked to the sight account through which your firm's transactions are carried out.
Privileged rates on other NBG products, which could be useful to a business, particularly if it has only just set up operations.
Chequebook. This is a useful payment tool that is offered when you open a business account, provided certain conditions apply, and in some cases comes with a specific number of cheques per year free of charge.

Available options

National Bank of Greece offers businesses a wide range of business accounts, and specifically the following:

Business Basic: Business Basic is available for individuals and legal entities, and comes with a range of benefits, including: payment of three bills per month free of charge, by means of a standing order or via Internet or Mobile Βanking, option to get a Debit Mastercard Business with 50% discount on the annual subscription fee for the principal card, 10 cheques per year free-of-charge and free-of-charge management of the staff’s payroll through Internet Banking
Business Prestige: With a Business Prestige account, your company can send or receive money from a foreign bank under favorable terms, pay any bill free of charge, by means of a standing order, or via Internet and Mobile Banking, get a Debit Mastercard Business with zero annual subscription fee for the principal card, get 100 or 200 cheques if you're an individual or legal entity respectively, annually, free of charge, plus free of charge management of your staff’s payroll via Internet Banking.

Through this account, your business can meet its needs easily, quickly and effectively, while working alongside your Business Banking Advisor you can ensure access to modern product packages and cutting-edge digital and financing solutions, as well as payment and collection solutions and other banking services.