Monthly withdrawal limit raised to 2,300 euros

Monthly withdrawal limit raised to 2,300 euros

The capital controls, now in their 33rd month, will ease as of Thursday, with the monthly cash withdrawal limit raised from 1,800 to 2,300 euros per customer per bank. This is the first substantial increase in the limit since the restrictions were imposed in June 2015.

Banks comment that this limit is sufficient for the needs of an average household, and the increase is of more of a psychological character than a practical one, as it consolidates confidence in the credit system.

Among the other changes that apply from Thursday are the lifting of all restrictions on the opening of a new bank account, as well as on the addition of other users to existing accounts. The sum of cash that travelers can take abroad has also been increased, from 2,000 to 2,300 euros per trip, while it is now easier to transfer funds abroad online through banks.

Nevertheless, household deposits posted a decline of 1.2 billion euros in January, from December 2017, amounting to 102.7 billion euros.

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