Today marks the enforcements of Greece's ban on ATM charges and caps on other banking fees.
Greece's financial landscape is undergoing a significant change with the implementation of new ATM fee regulations, effective from August 11, 2025. The new rules aim to protect consumers and establish a more balanced market by banning charges for cash withdrawals from ATMs of Greek banks and setting a maximum €1.50 fee limit for withdrawals from third-party ATMs [1][2][3].
The regulations were prompted by public outcry following a mainstream Greek bank's (Piraeus Bank) sale of 850 ATMs to a third-party company (Cashflex, part of Printec Group), which began charging customers more than €2 per withdrawal [1][4]. This change affected not only new customers but also existing bank customers who had previously enjoyed free ATM withdrawals. The escalating fees led to dissatisfaction and criticism in the Greek Parliament, with the opposition condemning the government for allowing such charges [1][4].
In response, the Ministry of Finance and the Ministry of National Economy implemented these new binding regulations. They prohibit ATM withdrawal fees at bank-owned ATMs within the DIAS Interbank System network and limit fees at third-party ATMs [1][3][5]. The government emphasized the need to protect consumers and restore balance between markets and society. According to the Finance Minister Kyriakos Pierrakakis, the government aimed to immediately establish clear rules to stop banks or providers from imposing excessive fees [3].
These regulations eliminate account balance inquiry fees and ensure that zero fees are provided for cash withdrawals between all banks participating in the DIAS interbank system. Furthermore, zero charges also apply from third-party providers in municipalities where only one ATM operates [6].
The new regulation legally enshrines that no bank can charge its customers for cash withdrawals. The maximum charge limit of €1.50 applies for withdrawals from third-party ATMs throughout the country. This move is expected to protect households from accumulating unsustainable banking-related costs, which, prior to the regulation, could amount to about €156 annually for moderate ATM users [4].
The issue of bank-introduced fees for cash withdrawals was brought to the Greek Parliament, with the opposition criticizing the government over the issue. In response, the Finance Ministry stated it would not allow such charges. The new regulation came into force on Monday morning, marking a significant step towards increased banking transparency and consumer protection [1][2][3][4][5].
References:
[1] "Greece makes ATM withdrawals free of charge from August 11." Greek City Times. 2025. https://greekcitytimes.com/2025/07/28/greece-makes-atm-withdrawals-free-of-charge-from-august-11/
[2] "Greek ATM fees to be capped at €1.50." EuroNews. 2025. https://www.euronews.com/2025/07/28/greek-atm-fees-to-be-capped-at-150
[3] "Greek Government Introduces New ATM Fee Regulations." The National Herald. 2025. https://www.thenationalherald.com/250728/greek-government-introduces-new-atm-fee-regulations
[4] "Greek ATM fees: The impact on consumers." Finanzia. 2025. https://www.finanzia.gr/2025/07/28/greek-atm-fees-the-impact-on-consumers/
[5] "Greek Government Announces New ATM Fee Regulations." Banking News. 2025. https://www.bankingnews.com/2025/07/28/greek-government-announces-new-atm-fee-regulations/
[6] "Zero fees for ATM withdrawals in municipalities with a single ATM." Greek Reporter. 2025. https://greekreporter.com/2025/07/28/zero-fees-for-atm-withdrawals-in-municipalities-with-a-single-atm/
- The new ATM fee regulations, implemented by the Greek government, aim to set a more balanced market by banning charges for cash withdrawals from ATMs of Greek banks and limiting the fee for withdrawals from third-party ATMs to €1.50.
- These regulations, effective from August 11, 2025, are a part of the overall business and finance reforms in Greece, designed to protect consumers and restore balance between markets and society.
