Maximum cash withdrawal limit rises to 1800 euros as capital controls ease

A man receives several 50 euro bank notes from an ATM in this illustration picture taken in Zurich January 16, 2015. REUTERS/Arnd Wiegmann

New regulations easing capital controls and raising the maximum monthly cash withdrawal limit to 1800 euros came into effect on Friday. The measure had been announced and passed as an act of legislative content in early August.

A Hellenic Bank Association announcement clarified that account holders can withdraw the entire sum in one or more transactions each month.

In addition, sums transferred to a bank account from abroad after September 1, 2017 can be transferred out of the country once again in full, though only half can be withdrawn as cash. Other rules apply for sums transferred from the imposition of capital controls until July 22, 2016 and from July 23, 2016 until August 31, 2017, as well as for shipping companies.