Recent legislative changes to ATM fees passed by Parliament are causing significant revision of business strategies for automated teller machine provider companies. The new regulations, taking effect on August 11, 2025, bring radical changes to the landscape of cash withdrawal fees across Greece.
Major ATM provider reactions
Cashflex, which manages the automated teller machine network acquired by Printec from Piraeus Bank, did not respond to questions from the newspaper “Kathimerini” regarding its investment planning. In contrast, Euronet, owner of the country’s largest non-banking ATM network, proceeded with immediate adaptation moves by announcing agreements with supermarket chains for installing fee-free machines.
What the new ATM regulations provide
The amendment from the Ministry of National Economy and Finance introduces three basic changes:
· Complete elimination of fees for withdrawals from banking network ATMs
· Zero fees in municipal communities with a single automated teller machine
· Establishment of a national cap of €1.50 for using third-party provider machines
Warnings about machine withdrawals from remote areas
Euronet Card Services managing director Ioanna Krikelli expressed concerns to “Kathimerini” newspaper about potential mass withdrawal of ATMs from island and remote areas. These fears arise from the expected revenue reduction that the new regulations will bring to automated teller machine providers.
Ministry of National Economy response
Competent ministry sources assure that there is no risk of mass ATM withdrawal, as the cap does not affect tourists who are foreign bank customers. Additionally, they estimate that the impact on bank profitability will be only 0.5%, a percentage they characterize as manageable.
Systemic bank positions
The four major Greek banks categorically state they do not intend to reduce their ATM networks. Sources from Eurobank, Alpha Bank and National Bank confirmed their intention to maintain their automated teller machine numbers unchanged. Nevertheless, banking circles express dissatisfaction with the regulations, emphasizing that ATM operation will shift from marginally profitable to loss-making.
ATM operation and maintenance costs
A Cashflex representative highlighted the high costs involved in operating automated teller machines, including hardware and software support, cash replenishment, alarm monitoring and telecommunications connections. The company operates over 320 ATMs across the country and aims to reach 800 machines by autumn.
Euronet’s free ATM strategy
Euronet, in an effort to ease tensions, announced ambitious plans to expand its “fee-free ATM” network in supermarkets, aiming to exceed 500 locations by the end of 2025 from the current 200. Agreements have already been signed with major chains like Sklavenitis, AB Vassilopoulos, Masoutis, Kritikos and Chalkiadakis. The company pays rent to chains for space usage, while its revenue comes from agreements with payment companies like Visa and Mastercard.
