Transaction split into installments with debit card

It is a new way of repayment where you can make your purchases with a debit card and pay later by choosing up to 6 interest-free monthly installments. It is available for payments for purchases and services from €50 and above, with a maximum financing amount of €500.

The Conversion of Transaction to installments is addressed to debit card holders, registered in Piraeus e-banking, who are:

• over 18 years old
• permanent residents of Greece
• employed/retired/self-employed

You can register to Piraeus e-banking online, in 3 simple steps, by clicking here.

You will need :

• the PIN
• your debit card number
• have with you the mobile phone you have registered with the bank

If you are not a customer of the bank, you can complete your registration to Piraeus e-banking online via the service Digital onboarding. The online registration is free of charge. Alternatively, you can register at a branch, with a fee such as defined in the Bank's Purchasing Invoice.

No, supporting documents are required.

You can use transaction conversion in installments for payments for purchases and services of €50 and more with your debit card and with a maximum loan amount of €500. For example, you can request to convert a transaction worth €1,000, in 2 installments, if it is the first time you are requesting a conversion or you have fully paid off any previous conversion debts. For your convenience, only transactions that are eligible for conversion are shown under "Available transactions" for conversion in Piraeus e-banking.

You can convert transactions in up to 6 installments. When you submit your request and select the number of tranches, you can see the maximum number of tranches your transaction can be converted to, based on its value and the available funding limit, as determined by tranche conversions that have been made or are pending.

When you submit your request via the Piraeus e-banking, you select the number of installments for the repayment of your transaction. If your request is approved, the amount of the purchase is credited less the amount of the first payment. The amount of the first payment corresponding to the first of the installments you have requested is covered directly by your capital, as the transaction has already been debited/committed, while the remaining amount relating to the credit amount is provided through a loan which you then repay in equal interest-free monthly installments through the main account linked to your debit card.

The loan is granted based on the bank's current applicable credit criteria.

Once the bank receives your request, it proceeds with its evaluation, a process that is supported 24/7, and you receive a notification of its outcome via SMS and a notification in Piraeus e-banking. 

If your request is accepted by the bank, you will have to sign within 5 calendar days, the loan agreement with an approved electronic signature, which requires the issuance of an approved single-use electronic signature certificate. This certificate is provided free of charge by a bank-affiliated approved trust service provider at the time you are asked to sign the contract.

After the signing of the contract and if your purchase has been cleared, the crediting of the financing amount will follow and you will receive from the bank to your e-mail (please check your spam e-mail) the contract forms, which will also be available in Piraeus e-banking.

The crediting of the financing amount is carried out during the bank's working days and from 8.00 a.m. to 8.00 p.m. The funds are automatically credited to the main account linked to your debit card.

If your request is approved, the loan amount is credited to the main account linked to your debit card, which is the total purchase amount less the amount of the first payment. This amount corresponds to the first of the installments you requested and is immediately covered by you, once the request to convert the transaction into installments with your capital is completed.

The remaining payments will be made in equal monthly installments, the first of which will be paid one month after the date of crediting the amount of funding. Subsequent installments will be paid on the corresponding date of the month following the date of payment of the first instalment. The repayment shall be made by debiting the main account linked to your debit card.

In any case, you will receive the relevant repayment plan in your e-mail.

If you apply for a transaction that has been approved but not cleared, the amount of the first payment that will be covered directly by you may vary, based on the amount that will be received when your transaction is cleared. In any case, the amount of funding credited to you will not change, as any difference (whether positive or negative) will be counted towards the first payment and will not affect the number of your loan installments.

The conversion cost ranges from €4-€12 and will be charged to the main account linked to your card after the funding amount has been credited. In any case, you will be informed of the conversion cost before you complete the conversion request.

For the conversion of a transaction into installments, there is no interest charge except in case of late payment of any instalment, where a default interest rate of 2.5% applies, plus a 0.60% levy of Law 128/75 on the overdue amounts according to the terms of the Contract.

For all the private debit cards of Piraeus Bank.

Yes, you can. The conversion can take place in both cleared and authorized transactions and with a 30-day grace period from the date of the conversion.

For your convenience, the "Available transactions" section only shows the transactions that can be converted. Using the filters you should select the debit card with which the transaction was made and in the transaction type, all transactions should be selected. If no transactions are displayed, the 30-day period since the transaction was made has likely passed or you do not have a limit available for a new conversion, or a change has occurred in the account linked to your card.

Requests and conversions that may have been submitted with a canceled card can be found in the "Loans" section.

You can request to convert payments for purchases of goods or services into installments, whether they are made at a physical POS or electronically.
Exceptions are the following cases: cash withdrawals, those that have already been made in installments or have already been requested to be splited into installments, fractions of installments, transactions that have already been reversal, transactions carried out in gambling enterprises, exchanges, credit and non-credit institutions, money transfer, charging, debt repayment management enterprises, as well as transactions carried out in activities of contracts, securities and goods, financial services, fund management, money markets and monetary intermediation organizations.

Yes, it is.

Yes, you can split utility bills or insurance payments into installments.

No, there is no such possibility.

No, there is no such possibility.