ATM Fees Changing in Greece: Details

Changes to ATM fees in Greece have been announced by the Minister of National Economy and Finance, Kyriakos Pierrakakis. The government intervention comes after the sale of 820 Piraeus Bank ATMs to CashFlex, in which Piraeus retains a 20% stake.

Current situation: Withdrawals from ATMs of other banks are subject to a Direct Access Fee (DAF) and a commission from the bank that issued the card, with the total cost ranging from 2 to 2.75 euros.

What's changing: The new legislative regulation eliminates fees at ATMs of banks participating in the DIAS system and at ATMs of third-party providers that are the only ones in a municipal unit. Also, if there is a shareholding connection between a bank and a third-party provider, as in the case of Piraeus - CashFlex, there will be no charge.

Banking circles estimate that banks will have revenue losses of approximately 20 million euros per year, and do not rule out the sale of part of the ATM network.