The 4 major changes in banks’ ATMs from August 11 – the benefits for the trading audience

New landscape is created since August 11, as the new will come into force legislation For bank supplies in cash withdrawals from ATM.

Specifically, the new legislation on ATM withdrawals is included in an amendment tabled by the Minister of National Economy and Finance, Kyriakos Pierrakakis, in the draft law on the National Customs Code.

In summary, the following are provided:

• Zero the charges for cash withdrawals from the Banks’ ATM network.
• Abolition of charges in municipal communities where only one ATM operates, whether it belongs to a bank or a third provider.
• Establishment of a national ceiling of 1.5 euros for withdrawals of third -party ATMs in other cases.
• Free Balance Questions and Harmonizing Providers with Banks’ Charges for Removals.

More specifically, the 4 key changes are as follows:

1. Transactions using ATMs to take cash from ATMs of business or legal entity which exploits ATM, in municipal communities, where there is only one ATM. This case also applies to municipalities consisting only of municipal units. There has been an improvement, as “this case is also applied to municipalities consisting of municipal units only” to include municipalities with no municipal communities. Therefore, the measure is now true for municipal units.
2. Transactions using ATMs to take cashwhich takes advantage of a payment service provider using a credit or debit card issued by a payment service provider who is a member of the DIAS- Diabetic Systems. This arrangement nullies supplies when a card owner issued by a bank that is a member of Diarrhea (eg all systemic, credia, optima) Takes up from a bank ATM. Examples: Eurobank card holder can withdraw from ATM Piraeus Bank. National Bank card holder can withdraw from Optima ATM. The cardholder VIVA It does not fall into this provision and is out of arrangement. Like the foreign bank card holder does not fall into this provision and is out of arrangement
3. Transactions using ATMs to take cash from ATMswhich exploits a business or a legal entity, using a credit or debit card issued a payment service provider, which is directly or indirectly involved in the management or capital of the business or legal entity operating this ATM. This arrangement applies to cases where a bank and an operator ATM is related. B.C. Cashflex and Piraeus. In this case there is no charge to take cash
4. Supplies and all kinds of charges of businesses or legal entities exploiting ATMs of paragraph 1 of the amendment, do not exceed, per transaction, the amount of 1.50 euros for withdrawal Cash from ATMs using a credit or debit card, which has issued a payment service provider referred to in paragraph 1, without prejudice to par. ATM Operators (Euronet, Cashflex), since the card publisher with ATM Operator has nothing to do with. Examples: National Bank card holder who withdraws from Euronet ATMs will have a maximum charge of 1.50 euros. Optima card holder with Cashflex ATMs will have a maximum charge of 1.50 euros. Holder of a foreign credit institution card which withdraws from Cashflex or Euronet ATM or other third party provider has no maximum charge. That is, the foreign bank billing policy of the foreign bank is followed.