ATM cash charges by banks abolished

From yesterday 11th August, new rules of the Ministry of Economy and Finance are in operation which completely abolish charges for cash withdrawals from the ATMs of Greek banks, while also imposing a ceiling of €1.50 for withdrawals from those of independent providers.

The rules include:
– zero charges for cash withdrawals between all banks participating in the interbank DIAS system;
– abolition of charges by independent providers when there is a direct or indirect stock connection with the customer’s bank;
– zero charges for withdrawals from independent providers in municipal communities where there is only one ATM;
– a ceiling of €1.50 for cash withdrawals from independent providers of payment services throughout the country;
– free balance inquiries for all cardholders regardless of bank or ATM provider;
– a unified charge of €0.50 euros for sending remittances through digital channels (web, mobile, internet banking) by independent providers, ensuring equality with the charges of the banks;
– establishment in law of the principle that no bank can charge its customers for cash withdrawals.
(Haniotika Nea, 12/08/25)

ATMs of Piraeus, Chania Bank and Cashflex in Kolymbari.
As from Monday 11th August, charges for cash withdrawals from ATMs owned by Greek banks such as Piraeus and Chania, above, are abolished. Charges for withdrawals from the ATMs of independent providers are subject to a ceiling of €1.50. Cashflex, which has made an appearance this year outside the Avra Hotel in Kolymbari (right), appears to be a novelty in that it is a new, purely Greek ATM network with ambitions for nationwide coverage. According to a report in Kathimerini it originated in the purchase of 850 Piraeus ATMs, which that bank sold off as they were outside its banking network, being installed in petrol stations, supermarkets and hospitals etc. It remains 20 per cent owned by Piraeus Bank.

This is the latest step in the government’s efforts to drive down excessive bank charges for a whole range of transactions. Over the past two years, either as a result of legislation or voluntarily, banks have already been gradually reducing their charges.

From 2024-25 the charges for cash withdrawals at ATMs of the main banks had already been reduced by some 33 per cent, while the banks have also abolished transaction charges for online payment of bills to major utility providers such as DEI, DEYAX/DEYAVA and Cosmote. Also useful for expats is the abolition of charges for incoming credits from foreign banks, in force from January 2024. (We are extrapolating from our experience with one bank.)

The abolition of ATM charges is particularly welcome in our case, where we were being charged a fee by the bank running the ATM, and a second, smaller fee by our own bank for each withdrawal. Both of these, we are glad to say, have now vanished.