ECONOMY

Banks take extra care to keep ATMs full of cash

Cash withdrawals from bank accounts exceeded 2 billion euros on Wednesday and Thursday, according to bank officials, as the vast majority of Greeks appear to have decided to stash some cash due to the uncertainty of tomorrow?s election. There were also some who have opted for foreign bonds, mutual funds, foreign currency and foreign stocks.

The same officials noted that throughout May and the first two weeks of June there was not a single day without a net outflow of cash withdrawals, which ranged from 100 million to over 1 billion euros on a daily basis.

In the last few days, however, banks have taken extra care to have plenty of cash available to meet the increased demand by clients and minimize the risk of a bad impression, which could lead to panic. There has been particular emphasis placed on feeding ATMs constantly, with special measures taken for this weekend.

Meanwhile, bank customers are reporting that lenders are delaying withdrawals of large amounts, asking for a period of two to three days, while it has become particularly difficult to open an account abroad: Besides the usual bureaucratic obstacles, the time of response by foreign banks has grown considerably when it comes to new accounts.