From now on the new charges for ATM withdrawals from another bank – When it reaches 5 euros

It could be surmised from this article if the UK leaves the EU, UK visitors to Greece in the future can expect to pay up to €5  for cash point withdraws!!

New charges apply today, July 22, 2019, for withdrawals from ATMs using a debit or credit card – another bank.

The new pricing of commissions for ATM transactions will be implemented with a different policy than each bank, depending on the structure of its network and the business plan of each credit institution.

From the so far available data on new tariffs on ATM “third-party” transactions, it is estimated that they will start at EUR 1.3 for withdrawals of up to EUR 150, while they will reach EUR 5 for ATM transactions outside the euro area.

The general rule that Greek banks seem to apply for withdrawals (transactions) to ATMs outside the eurozone is the 1% charge on the amount, starting from a minimum charge of 3 euros and up to 5 euros.

New ATM charges: Scaled, depending on transaction amount
With regard to withdrawals, at ATMs from 160 to 250 euros each ATM transaction in another bank will cost more than EUR 1.40 to 1.60.

Bank administrations estimate that with the new pricing policy for ATM transactions of another credit institution, customers have an additional incentive to use debit cards on their bank’s network. Credit institutions qualify debit card withdrawals as the most affordable way for customers to trade, which at the same time helps reduce tax evasion.

So far, no instructions have been given as to what will apply to islands and remote areas where there are no ATMs of all banks, with the result that citizens – especially pensioners – are forced to pay new charges.
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