The Hellenic Bank Association (HBA) issued guidelines for capital controls in Greece. Here are 10 banking facts that borrowers should bear in mind:
1. Capital controls officially ceased to exist on July 20 when bank branches opened to the public.
2. People banking at ATM machines can withdraw up to 60 euros from their account. There is the possibility of withdrawing as much as 420 euros by the end of the week (60 euros x 7 days).
3. It is possible to withdraw the 60 euros per day in another currency.
4. Cheques can be deposited, but payment of cheques in cash is not allowed.
5. People can have access to their safety deposit boxes and bank branches.
6. Debit cards can be used abroad but the same restrictions applicable to Greek banks are also in force abroad.
7. The use of prepaid cards is not an option when traveling abroad.
8. Bank cards can be used when purchasing items in Greek stores.
9. Bank cards can be used when purchasing things abroad.
10. Bank cards can be used when making internet purchases.
11. Stolen bank cards need to be reported so that it can be replaced.
12. No new bank accounts can be opened.
13. No new cosigners can be added to already existing bank accounts.
14. You can only pay off a loan early with money already in an account or a money transfer from abroad.
15. Term deposits cannot be terminated unless the termination is to pay off money owed to the public sector, pay off a loan at the same bank, pay salaries, hospital fees or student fees in Greece and abroad.
16. Businesses can accept credito card transactions.
17. Businesses are obliged by law to accept transactions using credit cards.
