What will change from 1 October to capital controls? – News.gr



No cash withdrawals – Detailed guide and the most frequently asked questions

With the decision of the Ministry of Finance, the restrictions applied to cash withdrawals and transactions, with the capital controls.

In particular, cash withdrawals are fully released in Greece and the current limit of € 5,000 per month is abolished. Restrictions on withdrawals via credit cards and prepaid cards are also released and are unlimited.

With regard to cash withdrawals abroad, the threshold is increased to € 5,000, including cash withdrawals via credit cards and prepaid cards issued in Greece. It also rises from € 3,000 to € 10,000, the amount that a person can transfer abroad per trip.

As far as companies are concerned, it is possible to export from € 40,000 to € 100,000 today to foreign transactions as part of their business activities. The amount of 100,000 euros is for each transaction per customer per day.

It also allows the export of foreign capital, which is a gain from investments made in Greece. In particular, monetary amounts representing profits and dividends derived from invested capital in Greece can be transferred in each calendar year to 100% of the invested capital to a bank account of the beneficiary at a foreign bank. This will be the case, provided that it concerns profits from funds transferred from abroad to Greece by means of a transfer to the account of a beneficiary at a bank in Greece.

In addition, checks and guarantee pieces are paid or refunded in cash. It is noted that today they may only be deposited into a bank account. There are, however, restrictions on the export of funds for all other reasons.

With twenty-nine questions and answers, the Hellenic Bank Association informs the public about the new regime that will take effect from Monday after the decision to capital controls for cash withdrawals.

Read the comprehensive manual with the most frequently asked questions to remove capital controls

1. What about cash withdrawals?

From 1 October 2018, cash withdrawals from a store or ATM at banks in Greece, including cash withdrawals with credit cards and prepaid cards issued by credit institutions operating in Greece, are permitted without limitation.

2. Is it possible to withdraw cash from a bank in foreign currency?

YES, without limitation from 1 October 2018.

3. Can I use my bank card, credit card and prepaid card for cash withdrawals abroad?

YES, from 1 October 2018, all cash withdrawals abroad, with debit, credit and prepaid cards issued by banks operating in Greece, up to an amount of € 5,000 or the equivalent in foreign currency, per calendar month per customer ID, by Bank.

4. Is it possible to deposit a check?

YES, it is permitted to deposit bank and private bank credit accounts. Cash checks are permitted from 1 October 2018.

5. Can I buy my credit card, debit card and / or prepaid card in Greece?

Yes. Credit, debit and prepaid cards can normally be used for purchases of goods and services within Greece, up to the limit stipulated in your contract with the bank if the companies from which the goods or services were purchased cancel their card transactions in an account. hold on to a bank operating in Greece.

On the other hand, if companies operating in Greece have installed a POS (POS) terminal from a foreign bank and the settlement of card transactions is carried out to an account held with banks, credit cards, bank cards and prepaid cards issued by banks and Electronic money institutions operating in Greece may not be used unless specifically approved by the Banking Commission.

6. Can I use my credit card, debit card and / or prepaid card to buy abroad or on the internet?

YES, if you are abroad, you can use your cards for buying goods and services:

• to the limit stipulated in your contract with the bank, and

• within the limit of an amount approved for each bank or e-money institution separately from the Bank Transaction Banking Committee.

For purchases made via the internet, you can use your cards up to the limit set in your contract with the bank, without limitation if online stores delete their account transactions with a bank that is active in Greece.

Because online stores erase their card transactions in an account they have with an overseas bank, you can use your cards:

• to the limit stipulated in your contract with the bank, and

• within the limit of an amount approved for each bank separately from the Bank Transaction Committee.

However, the following eight (8) general categories of online transactions are not permitted if online stores delete account card transactions stored at a foreign bank:

1. Money transfers abroad.

2. Purchase of artworks and auctions.

3. Deal with gambling companies and gambling.

4. Purchases in jewelers.

5. General codes in which a majority of pornographic transactions are found.

6. Personal services (escorts and appointments).

7. Payments to charitable organizations.

8. Markets for food service.

7. Can I open a new account or add a co-beneficiary to my existing deposit account?

YES, you can open an account and add a co-owner to an existing account with a credit institution, regardless of how to create a new customer ID.

8. Can I repay my loan prematurely?

YES, the early, partial or total repayment of a loan to a credit institution is permitted.

9. Can I request an early termination of my term deposit?

YES, early, partial or complete cancellation of term deposits is allowed.

10. I am a company that wants to accept transactions with credit cards, debit cards and prepaid cards. Can I do it?

YES if you enter into a contract with a bank, payment institution and / or an electronic money institution operating in Greece. In this case it is allowed to open a new account for clearing card transactions based on this new contract.

On the other hand, payment transactions can not be completed if they are settled via your account, which is held with a bank, payment institution and / or an e-money institution outside of Greece.

11. I am a company that accepts transactions with credit cards, debit cards and prepaid cards. When will my account be credited?

Settlement transactions with payment cards, both Greek and foreign, are credited to your business account in accordance with the relevant contract.

12. Can I refuse POS companies to refuse card transactions?

NO, because the Law on legal content, as in force, stipulates that anyone who refuses payment by credit cards, debit cards and prepaid cards, will be punished with heavy fines and / or imprisonment, according to the following provisions:

• Articles 288 (1) and 452 of the Penal Code,

• Article 13a of Law 2251/1994 (A 191),

• Article 18 Act 146/1914 (A 21), and

• Article 19 of Law 4177/2013 (A 173) as applicable.

13. Credit, debit and / or prepaid cards from foreign banks are normally used?

Credit, debit and / or prepaid cards from foreign banks issued abroad are used for purchases of goods and services as well as cash withdrawals without restrictions, within the limits of your contract with the issuing bank.

14. Can funds be transferred from abroad?

Yes. Transferring money from accounts with a foreign bank to an account with a bank operating in Greece is permitted.

15. Is it possible to transfer cash outside Greece?

It is permitted to carry banknotes in euros or in foreign currency up to an amount of ten thousand euros (10,000) or the equivalent in foreign currency per person and per foreign trip. The limit of 10,000 euros is excluding permanent residents. Borders and authorized persons of the shipping companies for the needs of the ship (cash-to-master) up to the amount of fifty thousand (50,000) euros per day are also exempted by submitting supporting documents to the competent customs authority. These supporting documents were established by a decision of the Banking Commission for Approval.

16. Are money transfers allowed abroad?

(A) the Special Subcommittees of the Banks, in accordance with the provisions of Decision No 26 / 15.11.2017 (Government Gazette B 4050) and (b) the Adoption of Bank Transactions, as defined in the Legislative Content Act, as in force .

Even without the approval of the special subcommittees of the Bank or the Committee for the approval of banking transactions:

• the acceptance and execution of orders to transfer money to banks abroad up to an amount of Euro 4,000 (4,000) per Customer ID and per calendar month from 1 July 2018, to a monthly limit in euro for all banks active in Greece and accept deposits that have been allocated and assigned by the Bank to the Banking Commission for Approval;

• transactions by legal entities or traders abroad in the context of their business activities, which do not exceed 100,000 (100,000) euros per day, per customer, on presentation of the relevant invoices and other documents and supporting documents, which will be accompanied mandatory statement in which the above persons declare that the documents presented above are genuine and have not been submitted to another bank. These transactions are processed directly from the branch network of banks, credited to the counterparty's account and are calculated within the weekly limit set by the Bank Transaction Banking Commission for each bank,

• Transactions of natural persons imposed for serious health reasons or for exceptional social reasons concerning the execution of payments abroad or cash withdrawals, by providing the necessary documents to the bank, showing that the conditions are met and with a monthly limit of two thousand 2,000) per person (with one or more transactions) to all banks operating in Greece. The aforementioned requests will be accompanied by a responsible statement stating that the aforementioned natural persons declare that the documents presented above are genuine and have not been presented to another bank.

The above permitted transactions are processed directly from the banks' branch network.

17. What about foreign trade transactions (payment of imports)?

For the current procedure for submitting and approving applications for the transfer of funds abroad by legal entities and traders in the context of their business activities, dated 27 November 2017, see Commission Decision No 26 / 15.11.2017 (Stcrt B 4050) Approval of banking transactions.

18. How do I pay for hospitals and medical costs?

The payment of hospitals and medical expenses is subject to the approval of the Banking Commission for Approval under the following conditions:

• Provide the necessary supporting documents to the bank with which the transaction is executed, and

• transfer of the relevant amount of hospitalization and medical expenses per credit account to a bank account of the hospital and not to an account of the beneficiary.

It is also possible to withdraw from a bank account the transfer of a lump sum of two thousand (2,000) euros or a foreign currency corresponding to a foreign person who goes abroad for hospitalization, depending on the written documentation of his purpose transition.

19. How are tuition fees paid to an educational institution abroad?

Payment of tuition fees is subject to the approval of the Banking Commission for Approval under the following conditions:

• Provide the necessary supporting documents to the bank with which the transaction is executed, and

• transfer of the relevant amount by credit to a bank account of the educational institution and not to an account of the beneficiary.

It is also allowed to transfer a maximum amount of five thousand (5,000) euros or the equivalent in foreign currency, per calendar quarter, for accommodation and accommodation costs for students studying abroad or participating in exchange program & # 39; s for students. Payment is made to an account abroad, where the beneficiary is the student.

However, if the aforementioned amounts are credited directly to student flats of students or the home of student tenants, when submitting a rental agreement or other relevant documentation, the maximum amount of eight thousand euros (8,000) or their equivalent in foreign currency per calendar year quarter.

20. Amounts that have been credited to my bank account from abroad can be transferred abroad?

YES, as a whole. They can also take cash. The relevant documentation of the transaction of the inflow of foreign capital and their outflow abroad is the responsibility of the bank and must be complete.

It is also permitted to transfer funds outside Greece to an institution for the purchase of financial instruments within the meaning of Article 5 of Law 3606/2007, as applicable, abroad, provided that:

• the bank account of the beneficiary from whom the transfer takes place, or

• the customer account maintained by the investment service provider in an institution whose transfer takes place on behalf of the beneficiary,

has been credited after the start of the official public holiday on 28 June 2015 with funds from foreign transfers, including transfers due to the sale, redemption or refund of foreign financial instruments or the collection of financial distributions related to those financial instruments. In the above cases where the transfer of funds outside Greece is permitted, the relevant funds may be transferred and the units of UCITS of Law 4099/2012.

21. Is it possible to deposit cash that has been seized in cash at a bank?

NO, in case of forfeiture of a bank debt, the Bank of Greece or the Fund of Deposits and Loans as a third party, the amount is paid by issuing a check or is credited to a bank account that the depositor the same bank or another bank.

22. Is it possible to pay for guarantee letters?

Yes.

23. Is it possible to grant new financing?

YES, provided that the conditions of the current legislation and the business policy of the bank are met.

24. Is the reimbursement / reimbursement of open loans and limits allowed?

YES is permitted according to the terms and conditions of your relevant contract with your bank.

25. Wage payments abroad for employees are permitted?

NO, if the invoice for the payroll is held at a bank that is active in Greece and the credited accounts are held with foreign banks. Restrictions do not include employees in diplomatic missions, permanent representations or other Greek government services. Επίσης, οι εργαζόμενοι σε διπλωματικές αποστολές, μόνιμες αντιπροσωπείες ή άλλες υπηρεσίες του Ελληνικού Δημοσίου στο εξωτερικό, οι οποίοι τηρούν λογαριασμούς μισθοδοσίας σε τράπεζα που εδρεύει και λειτουργεί στην Ελλάδα, επιτρέπεται να μεταφέρουν το ισόποσο της μισθοδοσίας τους σε λογαριασμό τους στο εξωτερικό, αποδεικνύοντας εγγράφως την ιδιότητά τους.

26. Πληρωμές συντάξεων στο εξωτερικό για συνταξιούχους επιτρέπονται;

ΝΑΙ, επιτρέπονται οι πληρωμές συντάξεων και προνοιακών επιδομάτων πάσης φύσεως στο εξωτερικό από φορείς κοινωνικής ασφάλισης που διέπονται από το ελληνικό δίκαιο, με πίστωση λογαριασμού που τηρείται σε τράπεζα που εδρεύει και λειτουργεί εκτός Ελλάδος, στις εξής περιπτώσεις: (α) αν πριν από την έναρξη της τραπεζικής αργίας, η οποία κηρύχθηκε με την από 28 Ιουνίου 2015 ΠΝΠ (Α & # 39; 65), ο δικαιούχος της σύνταξης ή του προνοιακού επιδόματος λάμβανε με τον ανωτέρω τρόπο τη σύνταξή του ή το προνοιακό επίδομα ή αν είχε αποδεδειγμένα υποβάλει έως τότε τη σχ ετική αίτηση για τη χορήγησή τους, καθώς και (β) αν του απονέμεται για πρώτη φορά σύνταξη μετά τις 22.07.2016 εφόσον στην τελευταία περίπτωση ο δικαιούχος αποδεικνύει ότι είναι κάτοικος εξωτερικού τουλάχιστον κατά την τελευταία διετία.

27. Ανάληψη μετρητών από τα μέλη των διπλωματικών αποστολών και των έμμισθων προξενικών αρχών επιτρέπονται;

Επιτρέπεται η χωρίς περιορισμό ποσού ανάληψη μετρητών, καθώς και η αποστολή εμβασμάτων στο εξωτερικό, έως του ποσού των 5.000 ευρώ μηνιαίως από έναν, ανά δικαιούχο, τραπεζικό λογαριασμό από τα μέλη των διπλωματικών αποστολών και των έμμισθων προξενικών αρχών, καθώς και από τους υπαλλήλους των αναφερόμενων στην παρ. 16 του άρθρου πρώτου της από 07.18.2015 ΠΝΠ διεθνών και ευρωπαϊκών οργανισμών, οι οποίοι εξομοιώνονται με τα μέλη των διπλωματικών αποστολών, κατόπιν επίδειξης της ειδικής ταυτότητας που τους εκδίδει το Υπουργείο Εξωτερικών.

28. Μπορώ να ενεργοποιήσω αδρανή λογαριασμό;

Ναι, αφού από 14 Νοεμβρίου 2017 έπαψε να ισχύει η αναστολή της προθεσμίας των άρθρων 7 και 8 του ν. 4151/2013 (Α 103).

29. Μπορώ να μεταφέρω στο εξωτερικό κέρδη και μερίσματα από επενδύσεις μου στην Ελλάδα;

ΝΑΙ, εφόσον τα κεφάλαια για την επένδυση στην Ελλάδα έχουν μεταφερθεί από την αλλοδαπή με έμβασμα σε λογαριασμό του επενδυτή / δικαιούχου που τηρείται σε τράπεζα που λειτουργεί στην Ελλάδα. Η σχετική τεκμηρίωση της συναλλαγής εισροής κεφαλαίων από την αλλοδαπή και εκροής των κερδών και μερισμάτων προς την αλλοδαπή ανήκει στην ευθύνη του πιστωτικού ιδρύματος και πρέπει να είναι πλήρης.

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