Domestic Factoring

Learn about the Domestic Factoring programs that we offer through our network branches.

Concerns companies providing goods and services on credit in the domestic market and usually have customers with whom they cooperate on a permanent basis.

What is factoring;

Factoring is a relatively new financial product in the domestic market, enabling your company to assign its demands, along with the accompanying operating costs (revenue) to our Bank, which will manage these. In addition the Bank finances these demands, evaluates the creditworthiness of your debtors on an ongoing basis and insures your credit risk in case of default in their payment.

In particular Factoring may include part or all of the above services and can be adapted to your business needs.

We cover the following factoring types:

Domestic Factoring with Right of recourse

We undertake the management and collection of your invoices, while we finance you, providing the necessary liquidity for the development of your business. In the course of our relationship, we evaluate the creditworthiness of your existing and new customers and inform you in time of any developments.

Domestic Factoring without recourse

We undertake the management and collection of your invoices, while we finance you, safeguarding you against the possible default of your borrowers. We free you from the thankless process of management and collection, and create suitable conditions for the safe development of your business.

Invoice Discounting under specific terms and conditions

We manage your invoices and finance you. However, receipts are made by your company, which acts as our representative. In particular, after the expiry of the credit period and the payment of your invoices you return the financing funds to us. Thus, you keep your contact and communication with your customers while ensuring the necessary liquidity for the development of your business. The relationship with the Bank may be disclosed to your customers (Agency factoring), or not (Confidential factoring). In special cases, the insurance of credit risk can be arranged.

Domestic Factoring only for the management of claims

We undertake the management and collection of your invoices, freeing you from the lengthy process of collecting them and monitoring them in accounts, helping you focus on your sales.

Factoring Diagram

In cases of domestic factoring, the procedure usually followed is shown diagrammatically as follows:

Factoring Diagram

With the sale of products/services between your company (A) and customers (B), the issue of an invoice and receipt of goods (1) (and provided that the Bank has considered the creditworthiness of your customers and has agreed to the assignment of specific invoices), you send us copies of the invoices (2) and inform us for any special payment arrangements. After this, your customers (B) are informed about the assignment of invoices to Attica Bank. After checking the standard items on the invoices, the Bank finances the value of the invoices (3) at the previously agreed rate and assumes the management and collection of such demands. After the end of the credit period and the collection of receivables by us (4) a final statement is executed (5). During the resumption and development of the above process, we monitor trade flows and developments in this sector of activity and inform you directly as to the creditworthiness of your customers/debtors or any other problem that may arise.


  • Ensures and enhances liquidity on an ongoing basis, depending on your sales.
  • Effective management and collection of your demands.
  • Reduced operating costs for the management and collection of your demands.
  • Improved conditions of sales and competitiveness.
  • Direct exploitation of business opportunities.
  • Continuous screening of credit risk.
  • Creation of safe conditions for the growth for your business (credit risk insurance).
  • Improves the image of your balance, in cases of non-recourse factoring.
  • Allows your business to grow safety in unfamiliar international markets.

For more information

regarding the detailed conditions for the sale of this product, contact the relevant officers of the Attica Bank branch network or on the phone +30-210-3669000.