Greece’s National Economy and Finance Minister Kyriakos Pierrakakis announced sweeping measures to eliminate most ATM fees, responding to public backlash over charges imposed at Piraeus Bank ATMs.
Speaking before the Parliament’s Economic Affairs Committee, Pierrakakis revealed that fees for cash withdrawals at ATMs owned by banks or third-party providers will be scrapped. Charges within the DIAS interbank system will also be set to zero, and a national cap of €1.50 will apply to all other banking fees.
The move addresses concerns over third-party providers charging customers after banks sold ATMs to external operators. “These charges are unjustified and unacceptable to the Prime Minister and the Ministry of Finance,” Pierrakakis said. “Our disagreement translates into action.”
The government will introduce the following measures via a parliamentary amendment:
- Zero charges for transactions within a customer’s own bank, now formalized by law.
- Elimination of fees for interbank transactions through the DIAS system, previously up to €1.50.
- A €1.50 cap on all other fees, including those from third-party providers or Greek banks to foreign banks.
- Third-party providers must treat a bank’s customers as their own, with no additional charges.
- Zero charges at third-party ATMs in municipal communities with only one ATM.
- Free balance inquiries at third-party ATMs.
- A €0.50 cap on bank transfer fees, extended to third-party providers.
“This is a deeply political intervention with a social purpose, showing the government’s commitment to serving society,” Pierrakakis said.
The measures aim to ease the financial burden on consumers and ensure fair access to banking services across Greece.
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