Insurance Coupons

Insurance Coupons are mandatory so as to pay people you employ on a regular or casual basis for private work or services. Employees may include domestic cleaners, private tutors, childcarers, caregivers, gardeners and landscapers. The Insurance Coupons are issued online through winbank web banking and can be cashed by employees at any Piraeus Bank branch. Any relevant social insurance contributions (25% for IKA and 10% for OGA) are withheld from the amount payable written on the Insurance Coupons. The withheld amount is then paid to the corresponding social insurance fund.

How are the Insurance Coupons issued


To issue the Insurance Coupons online, log into winbank web banking,

 1.   Log in > PAYMENTS > Insurance Coupon Issue


 2.   Choose the account to be charged.


 3.   Fill in: the name of the Employer (this may be a individual or a legal entity)

If it is a individual, fill in:
    • Employer’s AMKA (national social security number)
    • Employer’s surname
    • Employer’s VAT
If it is a legal entity, fill in:
    • Company Representative’s AMKA (national social security number)
    • Company Representative’s surname
    • Company name
    • Company’s VAT


 4.    Fill in the Employee details
    • Type of service rendered
    • Social insurance fund
    • Amount payable (over €5)


 5.    Fill in the email where you want to receive the 2 copies of the Insurance Coupon issued through winbank web banking.



 6.    Print the 2 copies of the Insurance Coupon you receive via email:
    • Employer’s Copy
    • Employee’s Copy
Each copy contains the details of the Employer and the Employee, the amount payable and the date the Insurance Coupon was issued.


 7.    Ask your employee to sign the Employer’s Copy. This signature confirms that they have received the Insurance Coupon so that they         can cash it.



 8.    Give the Employee’s Copy to your employee. With this Copy, they can cash the Insurance Coupon within the next 4 months.

How are the Insurance Coupons cashed

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


To cash the Insurance Coupon, employees must carry with them:

  • The Employee’s Copy you have given them. This Copy contains all the payment details – the details of the Employer and the Employee, the amount payable and the date the Insurance Coupon was issued
  • ID card, passport or any other form of ID
The Employee receives the net amount payable, i.e. the amount written on the Insurance Coupon minus any relevant social insurance contributions (25% for IKA or 10% for OGA). The social insurance contributions withheld from the amount payable are paid to the corresponding social insurance fund.



If 4 months have passed from the date the Insurance Coupon was issued and the Employee has not cashed it, the Coupon expires:

  • The Employee loses the right to cash it
  • The Employer cannot use it for another Employee
  • The amount payable is credited in full to the social insurance fund

Cancelling an Insurance Coupon

You can only cancel an Insurance Coupon within 3 months from the date it was issued at any Piraeus Bank branch.

Find the nearest branch 


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.