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Greece to Ease Capital Controls as of Sept. 1



Bank account holders in Greece can as of September 1 withdraw a total of 1,800 euros in cash per month following a decision by Greek Finance Minister Euclid Tsakalotos to ease capital restrictions, in place since June 2015.

As of September 1, individuals will be able to withdraw a lump sum of up to 1,800 euros per month from each bank account. The limit is currently at 840 euros every two weeks. Tsakalotos’ decision – published in the Official Government Gazette on Thursday – further allows individuals and companies to open new bank accounts.

Additionally, bank account holders will also be able to withdraw up to 50 percent of funds which, after September 1, 2017, are transferred from abroad by credit transfer to existing accounts held at banks in Greece following approval.

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