Greece’s finance minister Euclid Tsakalotos announced that as of September 1, Greek citizens will be given greater access to their money following the controversial capital control restrictions that were imposed on the country in June 2015.
According to the minister, capital controls will be eased and Greeks will now be able to withdraw a total of 1,800 euros in cash per month.
Individuals will be able to withdraw a lump sum of up to 1,800 euros per month from each bank account. The limit is currently at 840 euros every two weeks. Tsakalotos’ decision – published in the Official Government Gazette on Thursday – further allows individuals and companies to open new bank accounts.
Additionally, bank account holders will also be able to withdraw up to 50 percent of funds which, after September 1, 2017, are transferred from abroad by credit transfer.