A triple relief measure for more than 1 million households that live with the monthly fear of bank account seizures due to debts owed to the state or banks is included in the new omnibus bill submitted to Parliament by the Minister of National Economy and Finance, Kyriakos Pierrakakis.

Under the new provisions (Article 6 of the bill):

1. For households with debts to banks and private creditors, the protected monthly limit for an individual bank account increases from €1,500 to €1,600.
2. For debts to banks, where a joint bank account is maintained, the protected limit increases from €2,000 to €2,200 per month.
3. For debts to the Greek state, the protected account limit increases from €1,250 to €1,600 per month.

This means additional protection of:

• €100 per month or up to €1,200 per year for those with debts to banks or private creditors.
• €200 per month or up to €2,400 per year for families with joint accounts.
• €350 per month or up to €4,200 per year for debts owed to the state.

These new thresholds affect people whose accounts are subject to seizure measures—more than 1.7 million tax identification numbers (AFMs) for public debts, as well as hundreds of thousands of borrowers with debts to banks and private creditors.

An additional provision also exempts funds allocated for special education expenses for debtors’ children from any seizure. These amounts will no longer be assigned, seized, or offset against confirmed debts owed to the state, social security funds, local authorities, or financial institutions, regardless of any general or special legal provision.

Furthermore, for those seeking the complete lifting of seizure measures imposed by the state—not merely partial protection—the bill introduces another provision. Debtors who repay one quarter (25%) of their debt will be exempt from compulsory collection measures, provided they also arrange and continue paying the remaining debt through an approved repayment plan, such as the new 72-installment scheme.

How Bank Accounts Will Be Released from Seizure

For the protection to apply to debts owed to the state, the account must be declared electronically to the Independent Authority for Public Revenue (AADE) as the taxpayer’s sole protected account. If the debtor has a salary, pension, or social-benefit account, that account must be designated instead.

For debts owed to banks, where the new protected limits of €1,600 or €2,200 will apply, the debtor must declare one—and only one—account with a credit institution to receive protected status.

The same limits will also apply to accounts receiving salaries, pensions, and social security benefits, which must be officially designated as such and remain subject to the protections provided under Article 982 of the Greek Code of Civil Procedure (Presidential Decree 503/1985).