📊 What's changing exactly
As of January 2026, DIAS (Banking Systems) announced a significant increase in IRIS limits. The change affects all banks participating in the system — meaning virtually all Greek banks. Here's the detailed comparison:
🏪 What it means for businesses
Small and medium businesses are the big winners. With a €5,000 limit per transaction, they can now accept payments for services, deposits, or larger purchases without the customer needing to make a bank transfer.
IRIS has significantly lower fees than cards. While a debit card costs 0.5-1% and a credit card 1.5-2.5%, IRIS costs 0-0.2%. For a merchant who accepts €10,000 per month, that means savings of €100-200 monthly.
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Repair Shops & Technicians
AC repair €800, car service €1,500, kitchen installation €4,000 — all now payable via IRIS.
Doctors & Healthcare Professionals
Dental work, physiotherapy, psychologists — payments without a POS terminal.
Small Shops
Appliances, furniture, electronics — sales of €2,000-4,000 instantly.
👤 For individuals
Individuals can now send up to €1,000 per transaction — double the previous limit. This covers most everyday needs: rent, utility bills, second-hand purchases, payments to professionals.
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The daily limit of €15,000 means you can make multiple transactions on the same day without restrictions. The monthly limit of €30,000 covers even large purchases like a used car (in IRIS installments).
💡 Why IRIS instead of a card?
✅ IRIS advantages
- Lower fees (0-0.2%)
- Instant credit (10 sec)
- No POS terminal needed
- Works 24/7/365
- Directly to bank account
⚠️ When to prefer a card
- For points/cashback
- For installments (credit card)
- Abroad outside the Eurozone
- If the merchant doesn't accept IRIS
📱 How to use it
IRIS works through your bank's mobile banking app. No separate app is needed. To send money, you only need the recipient's mobile number or IBAN. The transaction is completed in 10 seconds.
For professionals who want to accept payments, there are two options: via QR code generated from the app, or with your mobile number. Many banks also offer special tools for businesses with automatic receipt generation.
OnOff Finance
We analyze changes in digital payments and banking services in Greece.
