New relaxation of Capital Controls from 1st March
capital controls
28 Feb 2018
/ 15:30
Today, 28th February, the official Government Gazette published the decision of the Minister of Finance to adjust the limitations on cash withdrawals and capital transfers which came into force on 18th July 2015.
From 1st March:
All limitations on the opening of new bank accounts will be lifted.
An individual or business can open an account or add another name to an existing account with a credit institution regardless of the new Customer ID.
The amount of cash which can be withdrawn will increase from 1,800 Euros to 2,300.
Up to 2,300 Euros can be withdrawn in a calendar month per Customer ID per credit institution in Greece or abroad.
The amount of cash – Euros or foreign currency – which can be taken abroad will increase from 2,000 Euros to 2,300.
This is the amount in banknotes – Euros or foreign currency – which can be taken per person per trip abroad.
Facilitation of capital transfer abroad from credit institutions or money transfer institutions
Capital transfer orders abroad for up to 2,000 Euros per Customer ID every 2 calendar months.
All limitations on the opening of new bank accounts will be lifted.
An individual or business can open an account or add another name to an existing account with a credit institution regardless of the new Customer ID.
The amount of cash which can be withdrawn will increase from 1,800 Euros to 2,300.
Up to 2,300 Euros can be withdrawn in a calendar month per Customer ID per credit institution in Greece or abroad.
The amount of cash – Euros or foreign currency – which can be taken abroad will increase from 2,000 Euros to 2,300.
This is the amount in banknotes – Euros or foreign currency – which can be taken per person per trip abroad.
Facilitation of capital transfer abroad from credit institutions or money transfer institutions
Capital transfer orders abroad for up to 2,000 Euros per Customer ID every 2 calendar months.
This is another step in the Road Map established on 15th May 2017 for the gradual relaxation of limitations to cash withdrawals and capital transfer. The authorities are aiming for the complete withdrawal of limitations as soon as possible whilst assuring financial and long-term economic stability.
