How to send up to 500 € per day for free via mobile phone

The IRIS e-commerce service provides the possibility of paying for purchases made in an online store by direct debiting the bank account from a mobile phone (mobile banking) or computer (electronic banking). Consumers use this product for online purchases (at any online store they own), as an alternative to card payments/cash on delivery/interbank transfer.

With the click of a button, the customer is transferred to the electronic banking services of the bank he is using and makes the payment directly from his account. The merchant sees the money in his account directly, and the customer does not need to send proof of payment etc. to authenticate the payment the second time. In 2021, there was a 75% increase in the number of transactions and an 83% increase in the number of businesses listed.

As stated on the DIAS website, the advantages of IRIS include instant credit 24 hours a week and 365 days a year (the beneficiary is credited in a few seconds), ease and speed (payment is made with simple movements on a smartphone) and security (payment according to the credit transfer system immediate European SEPA).

An additional possibility for users of the IRIS service is to transfer money to friends (from Alpha, Ethniki, Eurobank and Piraeus), directly and easily, using the mobile phone number, without knowing the IBAN, as long as they activate the IRIS service in the mobile banking of their bank. The TIPS infrastructure is used to run the service.

The money transfer process is completed within a few seconds and the beneficiary is immediately notified of the completion of the transaction. The user retains the flexibility to send the amount from the bank and account of his choice. The daily deal limit is 500 euros. The service is provided by Alpha Bank, National Bank, Eurobank and Piraeus Bank. Today the number of registered users is close to a million, while almost 70% of transactions do not exceed 30 euros.

Changes are coming

Until recently, the service was completely free from Ethniki and Alpha Bank. Eurobank didn’t charge anything for 20€ and charged 0.50 to 1.20 depending on the amount up to 500€. For its part, Piraeus Bank charges only 0.05 cents for up to 50 Euros and 0.50 Euros for 500 Euros.

This service is currently available completely free of charge from Alpha Bank and Eurobank, which from Friday (December 9) do not charge any fees for transfers through IRIS online payments. The baton is being taken over by the National Bank, which is preparing to return to free transactions from Wednesday 14 December (because a month ago it imposed a fee of €0.50 for amounts over €50 to €500), while the Piraeus Bank is also expected to follow the same trend. right on time.