Insurance coupons
Everything you need to know about the Insurance coupons from issuing to redeeming them.
Issue the Insurance coupons
The insurance coupon is issued online via e-banking by following the steps below:
1. Log in and select Payments > Insurance coupon issue
2. Select the account to be charged
3. Fill in the details of the employer (which can be either an individual or a legal person).
If you are an individual customer, please fill in:
- Employer's AMKA (national social security number)
- Employer's surname
- Employer's VAT
If you are a legal entity, please fill in:
- Company Representative's AMKA (national social security number)
- Company Representative's surname
- Company name
- Company's VAT
4. Fill in the employee's details:
- Type of work provided
- Insurance institution
- Amount payable (over €5)
5. Fill in the e-mail where you want to receive the 2 copies of the insurance coupon issued via the Piraeus e-banking.
6. Print 2 copies of the of the insurance coupon you receive by e-mail:
- employer's copy
- worker's copy
Each copy shows the details of the employer and the employee, the amount payable and the date of issue of the voucher.
7. Ask your employee to sign the copy for the employer. His/her signature certifies that he/she has received the insurance coupon so that he/she can redeem it.
8. Give your employee the copy for the employee. With this copy, he can redeem the insurance coupon within the next 4 months.
Redeem the insurance coupon
The Insurance Coupons can be cashed at any Piraeus Bank branch:
- By the employee.
- Within 4 months from the date the insurance coupon was issued
For redemption you must have with you:
- The employee's copy (this copy contains all the details of the payment, in particular the details of the employer and the employee, the amount payable and the date of issue of the insurance coupon).
- Identity card, passport or other identification document.
The employee receives the net amount payable, i.e. the amount indicated on the work stamp minus the relevant insurance contributions (25% for IKA or 10% for OGA). The insurance contributions withheld from the payment are paid to the relevant insurance institution.
If four months have passed since the issue of the voucher and the employee has not redeemed it, it expires:
- The employee loses the right to redeem it.
- The employer cannot use it for another employee.
- The amount payable is credited in full to the social insurance fund
Cancel an insurance coupon
Cancellation can only be made within 3 months from the date of issue at Piraeus Bank branches. To cancel an insurance coupon, you must carry with you your ID card and the 2 insurance coupon copies:
- Employer’s Copy
- Employee’s Copy
The cashier keeps the 2 copies and pays you the total amount payable written on the Insurance Coupon.