Greece Slashes ATM Fees: Free Withdrawals Within DIAS Network
The Greek government is set to introduce new measures to reduce bank fees for cash withdrawals from ATMs. Following the publication of the new law and a parliamentary vote, expected around August 10-15, customers will no longer face charges for withdrawals within the DIAS network. For third-party providers or non-DIAS network ATMs, a maximum charge of 1.50 euros will apply.
This marks the second reduction in bank fees in seven months. Including the earlier mandate of the Competition Commission, this is the third move to lower these charges. The new measures aim to address practices like Piraeus Bank's recent sale of ATMs and subsequent charging of customers. To ensure affordability, special provisions are made for areas with limited ATM access, guaranteeing reasonable transfer costs.
The new law, due to take effect in mid-August, will significantly impact cash withdrawal fees. Customers can expect reduced charges within the DIAS network and a cap on fees from third-party providers. This move aligns with the government's ongoing efforts to make banking services more affordable.
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