ECONOMY

Grace period for unpaid checks by September 30

grace-period-for-unpaid-checks-by-september-30

The latest legislative act, which the government signed on Friday, provides for a grace period for unpaid checks until end-September.

The act says that any issuers of checks that go unpaid from July 20 to August 31 can avoid entering the bad-borrowers register (Teiresias) if the checks are paid by September 30.

The government is also planning for the withdrawal of the maximum weekly amount of 420 euros from banks and cash machines on any day of the week, and not just on Fridays, provided no withdrawal has been made in the previous seven days.