Next Monday (11/8), a new regulation from the Ministry of National Economy and Finance comes into effect, abolishing charges for cash withdrawals from ATMs of Greek banks, as voted on July 25.
Under the framework of this regulation, a national maximum charge limit of €1.50 is established for withdrawals made through third-party provider ATMs.
ATM: What the new regulation provides
- Zero commissions for cash withdrawals between all banks participating in the DIAS interbank system
- Elimination of charges from third-party providers when there is direct or indirect shareholding connection with the customer’s bank
- Zero charges from third-party providers in municipal communities where only one ATM operates
- €1.50 cap for withdrawals from third-party payment service provider ATMs nationwide
- Free balance inquiries for all cardholders, regardless of bank or ATM provider
- Unified €0.50 charge for money transfers through digital channels (web, mobile, internet banking) from third-party providers, on par with bank charges
- Legislative guarantee that no bank can charge its customers for cash withdrawals
Minister of National Economy and Finance Kyriakos Pierrakakis stated: “This is an intervention with a social dimension, proving that the state responds directly to citizens’ needs. We eliminate unfair and excessive charges, ensuring that every citizen, wherever they live, will have free access to their money.”
