┋ English version ┋ 19.07.2019 13:39

Banks to start charging non-customers more for cash withdrawals from ATMs

Those who prefer using cash will have to look for an ATM of their own bank to avoid the higher fees

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Bank charges for interbanking cash withdrawals are set to increase from next week, with banks charging fees as high as 3.00 euros per transaction for the customers of other banks that use their ATMs to get cash.

The banks have cited the high cost of operating ATMs to justify the hike in fees and say the move will be an additional incentive to consumers to use debit cards as the cheapest way to carry out transactions, thus restricting tax evasion.

Those who prefer using cash will have to look for an ATM of their own bank to avoid the higher fees. Each bank will adapt the commission that it charges for interbanking transactions separately, based on its own network structure and pricing policy, while also adapting to European Union directives stipulating that both Greek and foreign cashcard users must pay the same for transactions via the ATM of a bank that has not issued their card.

Piraeus Bank, which operates the largest network of ATMs in Greece and has the highest associated costs, will start charging non-customers that use its network 3.00 euros as of Monday, July 22, after first asking whether they consent to the charge.

It has also decided to reduce the commission it charges for its own customers that use the ATMs of other banks to 0.60 euros (from 1.4 euros and 2.2 euros at present)

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