Greece has finally pulled the plug on sky-high ATM fees — National Economy and Finance Minister Kyriakos Pierrakakis announced on Monday that the government will axe charges on basic banking transactions and enforce a €1.50 cap on all other banking fees, following a national uproar over withdrawal costs — especially at Piraeus Bank ATMs.
“The recent situation is unacceptable,” Pierrakakis told Parliament’s Economic Affairs Committee. “We expressed our disagreement – and disagreement means action.”
And action it is. Not only will withdrawal fees at bank-owned and third-party ATMs be scrapped, but the notorious charges through the DIAS interbank system will also be flushed down the financial drain.
In simple terms? Getting your own money won’t cost you an arm and a transaction fee anymore.
Under the new measures — set to be passed into law in the coming days — customers will enjoy zero fees for transactions at their own banks. Even interbank transfers via the DIAS system will be completely free.
But the real slapdown comes for third-party ATM providers. They’ll be forced to treat all Greek bank customers like their own — applying the same no-fee rules. And in towns with only one lonely ATM, zero charges will apply no matter who owns it.
Want to check your balance? That’ll be free, too. And for money transfers? A simple flat fee of just €0.50, no nasty surprises.
Key points of the upcoming legislation include:
No more fees for using your own bank’s services
No interbank fees via DIAS
Third-party providers must treat all Greek bank customers equally
Free balance checks at third-party ATMs
Flat €0.50 fee for all money transfers, no surprises
“This is a deeply political intervention with a strong social dimension,” Pierrakakis added. “It proves the government acts in the interest of society.”
In a country where locals have grown tired of watching fees nibble at their hard-earned euros, this move is being hailed as a victory for common cents.
