ATM Fee Reduction: Impact on Banks

The Minister of National Economy and Finance, Kyriakos Pierrakakis, has zeroed out fees for interbank transactions via ATMs. The reduction only concerns ATM use and not electronic transactions.

Banks estimate losses of 20-30 million euros in commissions. For third-party providers, a national ceiling of 1.5 euros will apply for any other charge. In municipal communities with one ATM, the zero charge is extended to third-party providers as well.

Balance inquiries remain free, while for transfers, the 0.5 euro charge will also apply to third-party providers. It is estimated that Piraeus Bank will not maintain its stake in Printec.

Source: newmoney.gr