Capital controls in Greece ease off

Capital controls in Greece ease off

Capital controls in Greece will further ease off, with the major changes being the removal of restrictions on opening new accounts and raising the amount of cash withdrawals to €2.300 euros per month.

In particular, according to the decision of Finance Minister Euclid Tsakalotos, which was published today in the Government Gazette from the 1st of March on:

  • There will be no restrictions in opening a new account. More specifically, it is permissible to open an account from a natural or legal person or other entity and to add a co-beneficiary to an existing account with a credit institution, regardless of the creation of a new Customer ID.
  • The cash withdrawal amount rises from €1,800 to €2,300. In particular, it is allowed to withdraw cash up to the amount of €2,300, per month, by Customer ID per credit institution, by institutions in Greece and abroad.
  • The amount of euro or any other foreign currency transfers abroad rises from €2,000 to €2,300. It will permissible to transfer euro banknotes and / or foreign currency per person and per trip abroad.
  • The transfer of funds from abroad to credit institutions and payment institutions will be further facilitates. Accepting and executing orders for the transfer of funds abroad up to the amount of €2,000, per Customer ID and per calendar month will be permissible…./IBNA