ATM providers will now fall under the same regulatory framework as banks regarding transfers, with a maximum charge cap of €0.50 – The related amendment will be voted on Thursday.

On Monday, Minister of National Economy and Finance Kyriakos Pierrakakis announced the submission of a parliamentary amendment aimed at significantly reducing banking and ATM fees for consumers.

The amendment will be included in the draft law for the National Customs Code and will be put to vote in the plenary session on Thursday.

Pierrakakis: All ATM fees by banks to be abolished

The five key changes introduced are:

1. Abolition of fees for withdrawals from ATMs of other DIAS-member banks

The €1.50–2.00 fee currently charged for withdrawals from ATMs of other banks (members of the DIAS network) will be completely abolished.

2. No fees for withdrawals from ATMs of providers affiliated with the customer’s bank

If a customer’s bank has equity ties with an ATM operator, withdrawals at that operator’s ATMs will be free of charge for the bank’s clients.

3. Fee cap of €1.50 for other ATM transactions (e.g., with non-DIAS banks or third-party providers)

A maximum fee of €1.50 will be applied to all other ATM transactions. Currently, such charges can exceed €5 per transaction.

4. Free withdrawals in areas with only one available ATM

In all municipal areas where only one ATM is available—regardless of whether it belongs to a bank or a provider—cash withdrawals will be completely free. This extends existing rules for banks to include independent ATM providers as well.

5. Free balance inquiries and harmonized fees for transfers by ATM providers

All balance inquiries at ATMs—whether bank-owned or provided by third parties—will now be completely free.

Also, ATM providers will now operate under the same rules as banks for incoming and outgoing transfers, with a fee cap of €0.50.

As Mr. Pierrakakis emphasized, this amendment legally enshrines the zero charge for withdrawals from a customer’s own bank ATM, providing institutional protection for the future.

This set of measures aims to:

• Increase transparency
• Lower the cost of essential banking services
• Restore fair access to cash and basic banking transactions for all citizens.