Greek commerce wants reduction of bank charges on POS

Hellenic Confederation of Commerce and Entrepreneurship (ESEE) begins a new round of meetings with government ministers, Hellenic Bank Association and the Bank of Greece to discuss a drastic reduction of charges by Greek banks and their harmonization with European levels.

ESEE president Vasilis Korkidis, ahead of the obligatory introduction of payment card use from February 1, 2017, asked members of the Confederation to be careful and to select POS providers from the Greek market, avoiding the use of POS from foreign banks to have settlement of their electronic transactions outside the country. “These practices are sliding over capital controls therefore are illegal and bring enterprises face-to-face with huge fines, multiple of the benefit they could have from the use of such POS,” Korkidis said.

“The commerce community of the country wants the expanded use of electronic payments by card but it demands a loosening of bank changes and commissions impose on these transactions. Complaints from all over Greece over excessive bank charges, are constantly rising and in several cases the cost of this charge is putting a break on expanding electronic transactions in the country,” Korkidis said.