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All Greek banks to implement extra charges for services free until now

Greek banks will impose charges on services that used to be free of charge until now. The charges on virtually all their services and customers’ transactions are an effort to offset their losses from interest rates taking, which have been in constant decline over the last few years, media report.

After imposing a commission of 2 to 3 euros for each cash withdrawal from ATM by card holders of other banks, the four Greek systemic banks decided to rip off their customers also for simple actions like issue of new PIN, debit card issue or renewal, printed statements at ATMs.

The new charges have been adopted by all banks and will go into effect as of October 30, 2019.

For example the Eurobnak reportedly will charge €3 for reissuing of PIN, and a fee of €5-€6 for the renewal of a debit card (usually after 5 years), as well as its renewal after loss or theft.

Credit card “subscriptions”, a service that was free of charge in the past, will cost to bank customer 25-30 euros for simple Master- or Visa cards, with minor variations, such as free  subscription for six months or one year.

The annual credit card subscription is limited to 15-20 euros for each additional card.

For upgraded Platinum or Gold cards the subscription is multiple, with additional benefits.

The new charges will go into effect as of the end of October and will be completed gradually by the end of the year.

The new charges analytically:

1. One-off reissuing of card following loss / theft / damage / manual renewal statement: €6  with effect from 31/10-
2. Information about card account balance on the ATM from other bank in EU area: €0.20 with effect from 31/10
2.1 Non-EU area: €0.30 with effect from 31/10 –
3. Copy of 7 recent moves at the ATM EIB (mini statement): €0.15 euro with effect from 31/10
4. PIN re-issue regardless of how it was received: €3 euros valid from 30/10
5. One-time renewal subscription: €6 euro with effect from 31/12

What is interesting is that all banks will implement the same charges eliminating the “honorable” tradition of competitiveness in a free market.
The decision for the new charges comes when the Greek banks are about to swallow 5 billion euros in state aid from the 37-billion-euros “safety pillow” o order to deal with their non-performing loans.
On Thursday, the European Commission announced that it has approved the Greek government plan “Hercules” to support the reduction of non-performing loans (NPLs) of Greek banks. The banks “are free of state aid,” the EC found.
PS It is a “satanic” coincidence that the new charges have been decided at the same time when the Greek Finance Ministry increased the annual volume of required e-payments so that taxpayers manage to achieve a tax-return.

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  1. Disgusting

  2. and yet all i see if people scurrying to obey the new diktats, nobody yet willing to stand up and refuse plastic, refuse to do business with banks and third parties? nope, we still have a nation of happy slaves, just grumbling a little as the massa cuts their rations back a little more and tightens the chains. if youre not willing to throw out the banks, put the bankers in prison, put a lot of politicians in prison with them, and go back to honest cash transactions between people, then you can just expect even more of this kind of oppressive misery. of course its always little measures bit by bit so most of you dont feel it’s worth resisting, just go along with it, yeah right.
    wake up people! it’s bankers and fiat money that are the barbaric relics, and have no place in a civilized society!

  3. This move is clearly illegal — a breach of European competition law. If the ND government has any integrity (which seems highly unlikely) it will rule the oligopolistic decision by banks to be unlawful.

    Just to explain to the ND idiots: the big problems with the Greek economy have always been two things: too many small businesses with too many self-employed; and the larger businesses behave as an oligopoly so there is no competition at all, just rigged prices and pretending to be part of capitalism. So, if ND is claiming to be trying to promote competitive efficiency and economic progress, they need to stamp out this bank nonsense. So far, the ND government looks like a typical corrupt Greek government, handing out money and jobs to their family and friends, at the same time as trying to privatise the public sector. This is a disaster.

  4. Someone who caresm

    How can you squeeze water from a stone this is more like a dictatorship thAn a modern day democracy I thought the poor people were going to be looked after it is the same old same old the underdogs suffer while the rich become richer why not charge the greek people for just breathing .all of this is corruption in full view it is becoming a punitive not to the rich but to the poor those few euros each poor person scraps by on is now been taken away by the very government they voted in .everything in Greece is about how big and how far can we keep tightening the noose round our people’s neck I can’t see why this move the banks are making is not deemed illegal by the greek government and the EU . Instead of focusing on screwing the poor people over why not put your top dogs in order and stop all the corruption that is on full sight off the world. You have already sold Greece to the Chinese why don’t you also start selling our banks hospitals . Why not put Greece up for takes by the highest bidder that is all that is left we are as they say in Greek a πουλημένος ΛΑΟΣ and that against the will of the greek people I am ashamed to call myself Greek this is totally barbaric the we hole of the nation should stand up and say enough is enough p.people in Greece are starving it is at the brink of desaster yet all you hear is things are getting better .how can be when the people at the bottom of this so called food chain have been totally forgotten as the saying goes you pay with peanuts you get monkeys .this is a dictatorship not a democracy these banks are run by corrupt people and they all have they hands in the cookie jar while the nation suffers this is not Europe it is the dark ages God help us