Below are detailed instructions for deposit payment via your foreign currency account using SEPA standard (Single Euro Payments Area), which significantly reduces the cost and speeds up the transfer of funds abroad.

Basic prerequisites for payment

It is necessary to have a foreign currency account.

• If you do not have a foreign currency account, you can send the deposit from the foreign currency account of a close person to you or open an account specifically for this purpose. Opening and maintaining an account is free in most banks, and the account opening process takes only a few minutes.

Due to differences in commission rates from bank to bank, inquire in advance which bank is the most favorable. If you have a foreign currency account, you have 2 payment options:

• via application (online) - recommended method (as it is more favorable and easier) or
• by going to the bank counter.

What data do you need to prepare before making the payment

To avoid any misunderstandings and difficulties when paying online or when meeting with a banking officer, it is important to know and prepare the following data and documents:

• Recipient’s IBAN.
• Recipient bank’s SWIFT (BIC) code.
• Name and surname or company name of the recipient.

You will receive all the mentioned data in the deposit payment instructions, just save them to make the payment quickly and easily.

Payment process

If you are paying through a mobile application, it is crucial that: 1. Choose the SHA cost option

• This is very important to select correctly. Choosing the OUR option will result in higher commission fees.

2. The currency must be EUR 3. SEPA payment model

• In some applications, you may need to select this manually, while others may do it automatically.

4. Check all the entered data before making the payment online to avoid errors that could affect the reservation. The application will guide you through the process of entering the required data that you have prepared.

Enter the following data in the application:

Account owner’s details: Recipient’s IBAN (International Bank Account Number):

• This is an international account number that usually starts with two letters indicating the country (e.g., GR for Greece), followed by a string of numbers (up to 34 characters).

Recipient bank’s SWIFT (BIC) code:

• This is necessary for precise identification of the recipient bank abroad. It consists of 8 to 11 characters.

Name and surname or company name of the recipient:

• Full name of the account holder.
• Address of the account holder.

If you enter the correct IBAN of the recipient from the SEPA zone and choose EUR as the currency and SHA as the cost model, some applications will automatically switch to the SEPA system, while others may require manual selection.

After making the payment in the application (online)

Once you make the payment, you will receive a payment confirmation in the application or via email, in a PDF or another format. This confirmation (code) is used to identify your transaction.

• It is best to send us the proof immediately - a PDF from the application or a screenshot of the payment from your app.
• Send it to our email nikana@nikana.gr.
• Please inform us that you have made the payment so that we can check with the owners if the money has been received in their account and secure your reservation.

Bank payments - over the counter

If you decide to make a payment at a bank, over the counter, also prepare all the above information, but keep in mind that the commission is often higher than when paying through the application. We advise you to inquire before making a payment, and you can also check the exact tariff (price) on your bank’s website or by calling.

When you make a payment, the bank will give you a confirmation - proof of payment, the so-called SWIFT message (MT103) - immediately after payment or after a few days. This is a confirmation (code) based on which your transaction is identified. Send this code immediately to our email nikana@nikana.gr.

• It is best to send it by taking a photo of the document (paper) that was given to you at the bank with your phone.

If your bank can only send proof of payment after a few days,

• send us (immediately) a photo of your payment slip, and we will wait for the SWIFT (MT103).

• It is important so that we can check with the owners whether the money has been deposited into their account and thus secure your reservation.

• When you receive proof of payment, please send it to us afterwards.

Answers to your frequently asked questions

1. Is a foreign currency account necessary?

Yes. A foreign currency account in EUR is a requirement. If you don’t have one, you can open one specifically for this kind of thing or ask a trusted person who has an account to make your payment.

2. Why is it better to use an application for payment?

Using an application is not necessary but recommended. The fees are minimal, you can make a payment anytime (24 hours), you don’t have to go to a bank branch.

3. Does the application directly switch to SEPA payment?

Some applications automatically switch to the SEPA system, while others need to be selected manually.

4. If a person has a foreign currency account but does not have an application (online banking)\, can they make a deposit using the SEPA system?

In most banks, you can pay at a bank branch (over the counter). However, it is best to check with your bank first.

5. What is SEPA and what are the benefits of this system?

SEPA is a unified money transfer system that operates in 41 countries (EU, Malta, S. Macedonia, Montenegro…). This transaction system is faster and more affordable. Read more about the SEPA system here.

When booking through Nikana.gr you will receive clear instructions in an email. If you have any additional questions or difficulties, you can always contact us directly by email at nikana@nikana.gr and we will respond as soon as possible.

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