Greek Banks Latest update. What happening today with cash withdrawals and money transfers abroad (capital controls), Frequently Asked Questions

The Greek Ministry of Finance fully informed citizens about the restrictions imposed on cash withdrawals and transfers (capital controls), summarizing the main points are currently in force. Pointed out that during the validity of the above constraints, the Greek Ministry of Finance with ongoing initiatives and interventions gradually releases a significant number of transactions, making the operation of the market and the daily life of citizens to have returned to a large extent, to normality.
• Each applicant has the possibility of taking cash from ATM and shops of Credit Institutions (PI) to the amount of 420 euro a week and one or more undertakings, each PI in Greece and abroad. Moreover, permitted and withdraw cash up to 10% on money transferred from abroad on credit PI account operating in Greece.
• Allow the transfer of funds abroad to the amount of EUR 500 per month per customer and Payment Institution or PI
• The use of credit and debit card and electronic transactions (e-banking) allowed inside without restrictions.
• For purchases of goods and services abroad may not use credit and debit cards. Purchases from abroad via the Internet generally permitted, subject to certain exceptions (eg clothing items market, online betting etc)
• For citizens traveling abroad may carry cash up to € 2,000 (or the equivalent in foreign currency) per traveler and trip. The foreign residents are not subject to this restriction.
• Cross-border payment orders permitted if done by crediting an account held with PI operating in Greece.
• Amounts coming from abroad by credit transfer in PI accounts operating in Greece may be transferred abroad again, in whole or in part.
• Pensions and welfare benefits by Greek insurers paid regularly and abroad.
• You may pay hospitalization costs and medical expenses abroad through PI Also, the takeover and transfer abroad cash up to the amount of € 2,000 (or the equivalent in foreign currency) for a person accompanying person traveling abroad for treatment.
• In cases where there are serious health reasons or exceptional social reasons, is exceptionally allowed making payments to outside or withdraw cash up to the amount of 2,000 euros per month, with one or more withdrawals.
• You may pay fees through PI, and the transfer amount up to € 5,000 (or the equivalent in foreign currency) per quarter for accommodation and subsistence costs of students studying abroad or participating in exchange programs (Erasmus). The above limit is configured at 8,000 euros if the amounts are credited to accounts dorm or lessor.
• authorized, exceptionally, opening accounts for serving students (or new participants in the exchange program Erasmus) and soldiers, payment of payroll staff and ergosimou, payment of loans and liabilities of the depositor to the PI, the payment of new pensions and benefits, debt service settings on Social Security and the Greek State, payment and fundraisers for individuals suffering from incurable diseases, the service start-ups, etc.
• authorized, exceptionally, the early repayment of loans (partial or total) by cash, by bank transfer from abroad, and the new loan for restructuring.
• authorized, exceptionally, the early termination of term deposits, to pay hospitalization costs and fees, payroll arrears to the PI, debts to the Greek State and social security bodies and suppliers. Also, it allows early partial closing term deposit for the sake of living up to the amount of euro 1,800 per month, and for the property market.
• Excluding the limitations funds from international organizations and charities abroad for humanitarian purposes. Similarly excluded and Metropolis and Archdiocese to take up to EUR 10,000 and EUR 20,000 per month respectively.
• Transactions that are restrictive of capital controls, may, exceptionally, be carried out after the approval of the Banking Transaction Authorization or Special Subcommittees operating at PI, if imposed by important reasons and documented. The requests are submitted to the local branch of the PI
Recall that for activities not specifically regulated, valid legislation.
To facilitate the activities and transactions of businesses and professionals, the Commission Approval Banking has set up in each PI Special Subcommittees approval of transactions for the examination of applications to 150,000 per day per customer with reputable weekly limit of 70 mil. Euro for the four systemic banks and 308 mil. Euro for all PI
Arrangements are also direct processing procedures for transactions with abroad that do not exceed 5,000 euros directly from the network of branches of PI and rapid approval procedures for transactions from 5,001 up to 10,000 euros, in order to facilitate, among others, young entrepreneurs without any trading activity.
Note that during the month of August have been approved by the Banking Transaction Approval and Subcommittees of PI transactions, the total value of which reached 73% of the value of the respective transaction of last August and for September is estimated that this figure will reach 85%
----- UNION OF GREEK BANKS (October 1, 2015)
Frequently Asked Questions
  1. What about cash withdrawals? Cash withdrawal by traders from branch or ATM may not exceed the daily amount of EUR 60 per depositor per bank. However, given the portability of the daily limit of 60 euros a day or days and no later than the end of the week (Friday). That is, each week the beneficiary can withdraw up to the amount of four hundred and twenty (420) Euros maximum. 2. You may withdraw cash in foreign currency from a bank branch? YES, up to the daily limit of the equivalent (based on the current daily exchange rate) of 60 euros in foreign currency. And in that case, the portability of the daily limit on the day and at the latest at the end of the week.  3. Can I use my debit card for cash withdrawals abroad? Yes, according to the daily and / or weekly maximum withdrawal amount limit that applies in Greece. 4. Can I use my credit or prepaid card for cash withdrawals in Greece and abroad? NO, the transaction is not permitted. 5. You may check deposit? Yes, you may deposit bank and private checks only credited to the bank account. Cash checks Payment is not allowed. 6. What about the requirements on which he is satisfied inability date with payment from 20/7 to 31/8 2015? Cheques on which he is satisfied by the paying bank defaulted dated from July 20 2015 until August 31, 2015, as bills promissory notes and bills of exchange with a due date within that time frame, which remain unpaid, do not appear to files economic behavior data held by credit institutions or by bodies such instance, they are demonstrably paid until September 30th, 2015 the latest. 7. Can I use credit, debit and / or prepaid my card to make purchases in Greece? Yes. Credit, debit and prepaid cards are normally used for purchases of goods and services within Greece, up to the limit laid down in your contract with the bank and if the shops have an account with a bank operating in Greece. 8. Can I use credit, debit and / or prepaid my card to make purchases abroad or from the internet; YES, if you are abroad you can use your cards for purchases of goods and services:up to the limit laid down in your contract with the bank, and within the amount limit which is approved for each bank individually by the Commission for the Approval Banking. For purchases from internet you can use your card without restriction if the online stores have an account with a bank operating in Greece. Since online stores account with a bank abroad, you can use your cards: up to the limit laid down in your contract with the bank, and within the amount limit which is approved for each bank individually by the Commission for the Approval Banking. However, the following broad categories of transactions still not allowed through the internet where online shops have an account with a bank operating in Greece:
Money transfers abroad without limit Buy art and auctions. Transactions with companies betting, gambling and video games. Shopping in jewelers. General codes where found majority of transactions concerning pornographic material. Personal services (escorts and appointments). Payments to charities. Purchases of clothing and footwear. Shopping household equipment. Purchases electronics / equipment. Cosmetics markets. 9. Can I open a new account? NO, unless the opening of new account concerns only the following transactions, the need for which should be documented in writing and provided that there is no other available account through which they can be performed: the payroll payment, including the issuance and redemption ergosimou, the payment obligations of the depositor with the same bank, arising from contracts that were drawn up before June 28, 2015, payment of new pensions and youth welfare benefits, clearing card transactions from new agreements acceptance (acquiring), The newly established service after 1 Maiou2015, legal persons and individual entrepreneurs and freelancers starting activity / profession after May 1, 2015, service startups companies (startups) participating in new entrepreneurship support programs, the cash deposit as collateral (cash collateral) letter of guarantee, letter of credit or loan in the same bank, opening an account for a third purpose or compliance with requirement for execution of monetary claim under a payment order, judgment or other enforceable title or a claim settlement, which has been imposed garnishee third, for the holder of the claim, unless he has stated a deposit account with any procedural act, credit funds from abroad in euros or foreign currency, amounting to at least ten thousand (10,000) euros or the equivalent in foreign currency, acceptance term deposit only if the recipients of coincide with the beneficiaries of the feeder current account, deposit or current, the current account opening or deposit or addition of a joint holder to an existing account, persons who acquire for the first time as a student during the academic year 2015-2016, if the place of study is different from the up to now place of residence and under the provided that there is another account available to their name with the property of the beneficiary or co-beneficiary. For the certification of student status, registration certificate required by a University or University Technical Education, College, Center for Liberal Studies, Center for Post-secondary education or vocational school or apprenticeship, the current account opening or deposit to students during the academic year 2015-2016 will participate in ERASMUS student exchange programs, if the existence of the account is a precondition for the payment of compensation provided, and there is no other available account. For the certification of their participation in these programs requires the relevant certificate of school attendance, the current or deposit account opening gunner beneficiary called to serve his military service after the entry into force of this Act, where there is no other available account name. To open the account, unless other documents provided for in legislation, presented the document of Enlistment which shows that the recipient is asked to do his military service, opening a bank checking account, for the purpose of conducting fundraising in the name and for specific individuals suffering from incurable diseases or for conducting general charitable fundraising purpose or project execution utilities. For opening of these accounts is presented, where appropriate, the decision of the Minister of Health or the Minister of Labour, Social Security and Social Welfare, the special purpose account opening without taking up by a natural person for servicing debt arrangements in social security institutions and the Greek State, opening an account by social security institutions exclusively for the collection of social security contributions and other charges, opening solely an account, without the right cash for servicing the loan taken before or after the bank holiday by the bank where the account is opened, even if a bank account to another bank, and Otherwise, upon approval by the Banking Commission of Approval. 10. Can I add a joint holder to an existing deposit account? NO, the specific banking business is not allowed. 11. I can prematurely repay my loan? Early, partial or total repayment of your loan is only allowed:in cash or by money transfer (remittance) from abroad, or in case of repayment through granting a new loan, for restructuring purposes, provided that the amount of the new loan is at least equal to the amount of capital outstanding of the original loan. 12. Can I request early termination of my term deposit? NO, unless early termination relates only to equal payment:debts to the State and social security providers current dose and overdue loan debt in the same bank, payroll payment in the same bank, payment fees and hospitalization costs in Greece and abroad, paying suppliers who hold an account in the same or another bank operating in Greece, compared with invoices or equivalent documents if there is insufficient available in current or savings account in any bank, as evidenced by relevant solemn declaration made by the holder of a term deposit in the bank, Also permitted, exceptionally, early partial closing term deposit:to cover living expenses up to a maximum amount of one thousand eight hundred (1,800) euros per calendar month and the transfer of that amount to an existing savings account or sight of the beneficiary, provided that there are adequate funds in savings account or current beneficiary any bank, as evidenced by relevant solemn declaration made by the holder of a term deposit in the bank, and to buy property to a maximum of the amount indicated in the purchase contract and the relevant documents, most of notarial and other expenses, and the transfer of that amount to an existing savings account or sight the seller of the property and, where applicable, notary, lawyer and government, provided that the request for termination of the term deposit is accompanied by a declaration of the buyer-account holder a) that this sum will be used solely for that purpose and that there are adequate funds in savings or checking account thereof and b) that the buyer - account holder will provide the bank the contract of sale of the property and related documents proving necessary for his training expenses, within one month from when the above early termination of term deposit. Any necessary details about the procedure followed and the individual, specific conditions of application of this possibility may determine by decision of the Banking Commission Approval.  13. I am now wishing to start accepting transactions with credit, debit and prepaid cards. I can do it; YES, if a training contract with a bank, a payment institution, and / or electronic money institution operating in Greece. In this case, it opens any new account for clearing card transactions based on this new contract. Conversely, not training contracts accepting transactions with payment cards if the liquidation is carried out by merchant account credit, which is kept in a bank, a payment institution, and / or electronic money institution abroad.  14. I am now accepting transactions with credit, debit and prepaid cards. When will my account be credited? The liquidation of transactions with payment cards, Greek and foreign, will be made by crediting the business account as provided in your contract.  15. Can a company deny card transactions? NO, because the legislative act provides that anyone who refuses to pay by credit, debit and prepaid cards punished severely with fines and / or imprisonment under the provisions: Articles 288 Fri the 1st and 452 of the Criminal Code, Article 13a of Law. 2251/1994 (A 191) Article 18 a n. 146/1914 (A 21), and Article 19 l. 4177/2013 (A 173), as applicable.  16. Credit, debit and / or prepaid cards of foreign banks used properly? Credit, debit and / or prepaid cards of foreign banks if issued abroad are used for purchases of goods and services and for cash withdrawals without restrictions within the limits of your contract with the issuing bank.  17. They are transfers from abroad? Yes. The transfer of funds from accounts held in foreign bank to an account with a bank operating in Greece are allowed.  18. Allow the transfer of cash abroad?(from airport) Carry notes in euros or in foreign currency up to the amount of two thousand (2,000)EUR  or the equivalent in foreign currency per individual and per journey abroad. Since the limitation of 2,000 euros excluding permanent residents abroad. By decision of the Governor of the Bank of Greece may regulate specific issues of implementation of the above prohibition, be provided for variations countries SCHENGEN area and countries outside the European Union and to introduce special exemptions for categories of persons.  19. The transfer of capital abroad allowed? NO without limit, unless included in the exceptions process on a daily basis (a) Special Subcommittees of banks, as provided in the Decision no. 768 / 09.30.2015 (Government Gazette B 2118) and (b) Approval Committee Banking, as defined in the Act of Legislative Content, as applicable. Also permitted without the need for approval by the Special Subcommittees banks or the Approval Committee Banking: the acceptance and execution of funds transfer orders to foreign banks to the amount of five hundred (500) per depositor (Customer ID) per calendar month until monthly limit in euros for all banks operating in Greece and accept deposits, which has defined and allocated by the bank to the Decision no. 770 / 09.30.2015 (Government Gazette B 2119) of the Approval Committee Banking, transactions are legal persons or traders outwards in their business, not exceeding five thousand (5,000) each euro, on presentation of invoices and other documents and supporting documents, which must be accompanied by a declaration by which these parties declare that those documents submitted are authentic and have not been submitted to another bank. These transactions will be counted within the weekly limit laid down by the Banking Commission Approval for each bank, Transactions individuals imposed by serious health reasons or exceptional social reasons and are making payments to outside or withdraw cash, by presenting the necessary documents to the bank, which prove the fulfillment of the relevant conditions and monthly limit of two thousand (2,000 ) per individual (one or more transactions) of all banks operating in Greece. The above requests will must be accompanied by a declaration in which the aforementioned individuals stated that those documents submitted are authentic and have not been submitted to another bank. These permissible transactions will be processed directly by the branch network of banks.  20. What about the payment transactions for commercial purposes abroad (imports payment)? For the current, from September 30, 2015, submission and approval of funds transfer requests abroad by legal entities and tradesmen in the context of their business activities in detail see the Decision no. 768 / 09.30.2015 (GG V2118) Commission Approval Banking.  21. How can you pay hospitalization costs and medical expenses? Payment hospitalization costs and medical expenses is no limit approval of the Banking Commission Approval under the following conditions:submission of the necessary documents to the bank through which the transaction was carried out, and transfer of the funds cover hospitalization costs and medical expenses on credit to a bank account of the medical institution and not on behalf of the same beneficiary. Also, the takeover of the bank account and the transfer abroad cash maximum lump sum of two thousand (2,000) euros or the equivalent in foreign currency for one person accompanying person traveling abroad for treatment, provided written documentation of the purpose of transition.  22. How can you pay tuition at an educational institution abroad? Payment of fees is without limit approval of the Banking Commission Approval under the following conditions:submission of the necessary documents to the bank through which the transaction was carried out, and transfer of the funds by crediting a bank account of the institution and not on behalf of the same beneficiary. Also, the transport of a maximum amount of five thousand (5,000) euros or the equivalent in foreign currency per calendar quarter total for accommodation and subsistence costs of students studying abroad or participating in student exchange programs. Payment takes place as required, in an account held abroad, the student beneficiary. However, where these amounts credited to accounts dorm or student residence lessor by presenting a lease or other relevant documents, then the transporting of maximum eight thousand (8,000) or the equivalent in foreign currency per calendar quarter.  23. Amounts credited to my bank account from abroad can be transferred back abroad? YES, in their entirety. However, you may not withdraw cash all the transferred foreign funds. The assumption can be made up of 10% overall, with a procedure defined by the Banking Commission of Approval. Special shipping companies referred to in Law. 27/1975, 959/1979 and N.S. 2687/1953, can make and cash withdrawals to the amount of fifty thousand (50,000) per day. By Commission decision Banking Approval may be authorized to undertake and to set cash amount per day -more than the generally applicable - for other business sectors, falling within the scope of that legislation. The documentation of the transaction capital inflow from abroad and re-pouring them abroad, will be the responsibility of the bank and must be complete. Also permitted the transfer of funds abroad by an institution for the purchase of financial instruments within the meaning of Article 5 of Law. 3606/2007, as in force abroad, if: the bank account of the beneficiary from which the transfer is made, or customer account kept by the provider of investment services institution from which the transfer is made on behalf of the beneficiary, It credited after the start of bank holiday of June 28, 2015 with funds provided by a transfer abroad, including credit transfer cases of sale, purchase or redemption of financial instruments abroad or collecting cash distributions related to these financial instruments.  24. Allow pecuniary claim confiscated in bank hands in cash? NO, in cases where a monetary claim held by the bank, the Bank of Greece or the Deposit and Loans Fund as a third party, the amount or paid with certified checks or compulsorily credited to a bank account of confiscating kept in the same or another bank. 25. authorized the payment under letters of credit? YES, if the amount of the payment is deposited in a bank account.  26. The allocation of new funds allowed? YES if the conditions set by law and the business policy of the bank met.  27. Allow the repayment / settlement of open loans and limits? YES permitted under the terms and conditions of your contract to your bank.  28. Payments payroll overseas workers are allowed? NO, if the account is charged for wage payments is kept in a bank operating in Greece and accounts credited held with banks abroad. By restricting the excluded employees in diplomatic missions, permanent representations or other departments of the Greek government. Also, workers diplomatic missions, permanent representations or other departments of the Greek government abroad, which keep payroll accounts at a bank established and operating in Greece, allowed to carry the equivalent of their salary into their account abroad, demonstrating the writing capacity.  29. Pension payments abroad for pensioners allowed? YES, the pension payments and welfare benefits of any kind abroad by social security institutions allowed governed by Greek law on credit account held with a financial institution established and operating abroad, provided that the holder of the pension or welfare allowance received in this manner his pension or welfare benefit before the start of bank holiday, which was declared by the June 28, 2015 PNP (A65). 30. Cash withdrawals from embassies allowed? Is authorized without limitation amount of cash from one per beneficiary bank account in embassies and members of diplomatic missions in Greece by producing written certification from the relevant embassy or diplomatic passport.
Reporting for tsismosaonline.com 10-10-2015 Filipina ana maria