From the beginning of this week, new rules came into force in Greece, which commissions for withdrawing money from ATMs within the local banking network. The measure is part of a legislative regulation of the Ministry of National Economy and Finance, adopted on July 25, aimed at eliminating "unfair and excessive fees".
The reform also provides for a national ceiling of €1.50 for withdrawals from third-party ATMs. According to the ministry, the changes have been introduced with a minimal transition period, in order to bring immediate benefits to citizens, especially in rural and remote areas.
The main changes include:
zero fees for interbank withdrawals in the DIA interbank system;
no fees from third-party ATMs, when there is a shareholder connection with the client's bank;
free withdrawals in populated areas from a single ATM, regardless of the owner;
maximum fee of €1.50 for all other withdrawals from third-party ATMs;
free balance inquiries for all cardholders;
fee of €0.50 for transfers through third-party providers, equalized with bank rates.
Minister of National Economy and Finance Kyriakos Πerakaks defined the reforms as socially significant.
"Πremachvame neprvavelno and eksztőkőtőkő, szállásztő monthly ATM withdrawals without fees - a change in the Payment Services Act has been implemented
The measure comes after a wave of complaints about sharply increased fees following the sale of ATMs to private companies. These owners often place the devices outside bank branches - in metro stations, hospitals, gas stations and remote areas - where withdrawal fees sometimes reach or exceed 5 euros.
In Greece, the four main banks maintain over 5,000 ATMs, with Πipea having 1,300 machines, the National Bank - over 1,400, and Eurobank and Alpha Bank - about 1,200 each, local publications recall.
The fact is that since January the Greek government has increased or reduced 6 main bank fees, including:
zero fees for payments to state institutions and municipal services via online banking;
a ceiling of €0.50 for incoming and outgoing transfers up to €5,000;
free withdrawals in residential areas from an ATM;
free balance inquiries;
no fee for loading prepaid cards up to €100;
extension of reduced commissions for small purchases through ΠOC.
The new regulation will lead to a reduction in daily banking expenses for millions of citizens and will increase financial availability throughout the country, assured by the government.