Capital Controls

On 18 July 2015, the Greek Government passed a law ending the bank holiday period imposed on 28 June 2015. At the same time, restrictions continue on cash withdrawals and the transfer of funds.

The legislative act provides the following:

• As of Monday, 20 July 2015, the bank holiday period ends and banks re-open.
• Restrictions on cash withdrawals and capital movement are imposed.
• The provisions apply to the following institutions:
  
  
  1. All banking institutions operating within Greece, including branches of foreign banking institutions
  2. Specific funds and institutions under Greek law
  3. E-money institutions legally operating in Greece
• As of the entry into force of this Act, any form of cash withdrawal from a branch or ATM exceeding €60 per depositor (customer ID), per credit institution, per day, from institutions in Greece and abroad is not permitted. Cash not withdrawn on any day or days can be withdrawn cumulatively up to €420 per week.