May 5, 2016
Bank transactions allowed under capital controls
Since capital controls were imposed on the Greek Bank System in 2015, bank transactions are restricted. In general, pursuant to the Legislative Act dated 18.7.2015, as amended and in force, any person having a bank account in Greece is able to withdraw up to 420 € every week from each of his bank accounts and sent up to 500 € a month to bank accounts outside Greece. There are also provisions for businesses, students and special issues such as medical needs and other specific cases . Opening of a bank account or adding a co-beneficiary to a bank account is allowed only under specific provisions. However, credit or debit cards can be used in Greece and abroad without legal limitations.
“The present text includes information which may not apply to all real, legal or other situations. In any case, all information included in the present does not constitute legal or business advice and shall not be interpreted as such.”
