Further relaxation of capital controls effective as of today

The further relaxation of capital controls announced recently is due to take effect today. Customers will be able to withdraw 840 euros in one go every two weeks rather than 420 euros every week, as has been the case for the past few months.

According to Piraeus Sec. morning note, customers will also face no restrictions on withdrawals for any money that is currently kept in safe deposit boxes or under mattresses but which they deposit with their bank. As for businesses, the restrictions on the money they can transfer abroad for the purchase of supplies and materials will also be relaxed.

The limit per exchange will be increased to EUR 30,000 from EUR 20,000, while the committees that approve the transfers will be able to clear total purchases of 480.2 million euros per month as opposed to the current ceiling of 352.3 million. The ban on Greek credit cards being used for some online transactions with foreign companies, such as for betting, jewelry and donations to charities will remain.

Source:capital.gr