International
support

In more than 90 countries

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Valérie BANCAL
Head of International Desk Benelux, Greece, Turkey

Support by the
Crédit Agricole group

Last updated: august 2021

Crédit Agricole Group's International Desk in Greece provides support to the Group's corporate clients for their local operations, in particular account openings, financing, information and banking advice. To do this, it relies on the Group's entities and leading local partner banks with a large network of branches throughout the country. For NBFCs, the International Desk offers the support of local law firms and its leading partners for the internationalisation of companies.

Other group businesses present in Greece:

  • Investment banking: Crédit Agricole Corporate and Investment Bank (CA-CIB), which has a representative office in Piraeus specialising in maritime financing;
  • Credit Agricole Life (CALI) is active in life insurance.

For more information, see the list of the Crédit Agricole Group’s locations.

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Means of payment

With Greece

Company cheque

Bank cheque

SWIFT and SEPA transfer

Bill of exchange

Promissory note

Documentary remittance

Documentary credit

Usage

Common

Common

Common

Common

Common

Common

Weak

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Advice from the
international desk

General Information

Greece enjoys an interesting geographical position for activities in South Eastern Europe or the Eastern Mediterranean region. The country also offers interesting opportunities, particularly in the field of circular economy, water treatment or even energy. Many measures have been taken to encourage investment (including subsidies, tax benefits, Golden Visa...) and the reforms underway for many years are ongoing.
France is Greece's 6th largest supplier.

In business relationships, it is important to be careful and find a good local partner. Crises have weakened some companies, and access to bank credit remains difficult for some of them, particularly SMEs.

English is spoken by many merchants and business leaders.

However, it should be noted that human relations play an important role.


Means of Payment & Banking Specificities

Cheques are one of the most commonly used means of payment, but this method is not recommended, especially for the settlement of international transactions.

It is the same for the “promissory letter" or "promissory note”. This is an acknowledgement of debt issued through the bank's channel but has no currency value. It must therefore be refused. 

Swift and SEPA credit transfers are recommended. In order to secure transactions, it is possible to use a stand-by letter of credit, a documentary credit, a credit insurance, or, better still, an advance payment. It should be noted that SBLCs and guarantees are commonly used while less use is made of documentary credits.

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