The Greek Ministry of Finance announced on Monday a new regulation abolishing all charges for cash withdrawals from ATMs operated by Greek banks. In addition, a cap of €1.50 has been set for withdrawals from third-party ATMs, such as those commonly found in tourist areas and not owned by banks.
The decision was prompted by a recent incident involving a local bank, which replaced its hundreds of ATMs with machines operated by a third-party company in which the bank held a share. This led to customers being charged a €2 fee on each withdrawal.
The incident quickly reached the parliament, where it came under heavy criticism from the opposition, who demanded action, prompting the Finance Ministry to respond.
Under the new rules, withdrawals from banks that are part of the DIAS interbank system will be completely free of charge. Fees at third-party ATMs will be capped at €1.50, and the charge will be eliminated entirely if there is a direct or indirect shareholding link with the customer’s bank. The same full exemption will apply in municipalities where there is only one ATM, even if it is operated by a third-party company.
The measures also aim to improve transparency and ease of use. All cardholders will be able to check their balance free of charge at any ATM, regardless of their bank or the provider. Digital money transfers, such as remittances, made via web, phone, or internet banking, will incur a one-off charge of €0.50 will be charged, equally applied by third-party providers or banks.
Lastly, the new regulation stipulates that the ban on banks charging their own customers for cash withdrawals will be enshrined in law.
So far, the move has been met very positively online, with some users calling on other European countries to adopt similar policies.
One user on X user commented he was wondering, “if other EU countries will follow suit – ATM fees are the worst.” Others, responding to the Euronews Türkiye post on the measure, wrote: “I hope it serves as an example for the greedy ones among us too’ while another said, ‘Governments that care about their own people are like this!”
Before the ban took effect, the withdrawal charges in Greece were considerably higher, especially for third-party operators or bank ATMs outside the DIAS network. Charges would typically range from €2.30 to €2.70 per withdrawal. Some machines in heavily visited tourist areas charged as much as €5 per transaction.
Greece’s new model places it among the more consumer-friendly regimes in Europe. Turkey’s average fees are about 3.59%, Portugal has a no-charge policy for withdrawals from Multibanco ATMs; however, foreign cardholders often face fees ranging from €3 to €4 from independent ATMs, prevalent in touristy areas. Withdrawals from another bank’s ATM in Germany and Austria range from €1.95 to €5, but many banks in Germany belong to a fee-sharing network of banks that allow free withdrawal from partner bank ATMs.
