Greek Depositors Allowed to Withdraw Weekly €420 as of Wednesday, July 29

The Finance Ministry on Tuesdayannounced that Greek depositors and pensioners will be allowed to withdrawthe maximum weekly amount of 420 euros per client per bank, from bank tellers or ATM machines, on any dayfrom Wednesday, July 29, until Friday, July 31.

For example, if from last Saturday, July 25, until Tuesday, July 28, bank customers have not made any cash withdrawals, then they can withdraw up to 420 euros anytime until Friday, July 31.

However, if depositors have made a 60-euro withdrawal on Saturday, July 25, and another 60-euro withdrawal on Sunday, July 26, then they can withdraw up to 300 euros (420 euros – 60 euros – 60 euros) on any day until Friday July 31.

According to reports, the announced measure, aimed at easing capital controls, is expected to be formalized soon with a new legislative act for the coming weeks as well.

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