New Bank Limits in Greece, Withdrawals Now at €5,000

Bank account holders in Greece, can as of Monday (June 4) withdraw a total of 5,000 euros from 2,300 euros per month from ATM machines and banks, according to a finance ministry decision published in the Government Gazette.

Under Greek Finance Minister Euclid Tsakalotos’ decision, depositors can withdraw a total of 5,000 euros in cash per month for each bank account in Greece or abroad.

At the same time, euro or foreign currency transfer amounts abroad will also rise from 2,300 euros to 3,000 euros, which means that account holders can transfer euros or foreign currency for travels abroad.

The ministry decision also facilitates the transfer abroad of 4,000 euros per account holder every two months as of July 1.

With regard to business owners, international transactions as part of business activity will increase to a daily 40,000 euros from 20,000 euros per transaction and per account holder.

The finance ministry is aiming to lift all capital controls with the aim to ensure business activity and liquidity ahead of Greece’s exit from the bailout program in August.

Capital controls were implemented in June 2015.