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Capital controls 101 for foreign visitors and buyers

More than nine months into the restrictions, the Greek government has further eased capital controls, lifting some of the restrictions.

Cash withdrawals
Cash withdrawals from ATMs are defined by the daily withdrawal limit established by each foreign bank, whereas foreign credit card transactions are not submitted to any limitations.
Members of diplomat missions or people who work at international and European organizations are now able to withdraw cash without restrictions and are allowed to transfer 5.000 Euros abroad each month.

Premature repayment of loans
Following the latest decision, one can pay the loan back before its time using money that comes from abroad, or by taking out a new loan that is at least the value of the unpaid portion of the first one. Additionally, a debtor can pay back the whole loan if they intend to sell the property.

Transferring funds from abroad to Greece
The transfer of funds from accounts held in foreign banks to accounts held in banks operating in Greece is allowed. Furthermore, every amount credited to a Greek bank account from abroad can be entirely transferred back abroad.

Transferring funds within Greece
Capital transfers within Greek Banks are allowed and are processed within a day or two by the Approval Committee of Banking Transactions.

For detailed information visit the Hellenic Bank Association.

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