Greece Raises Individual Bank Withdrawals to 1,800 Euros per Month

Greece will further relax capital controls by September 1, in terms of both monthly cash withdrawals and opening of new accounts.

According to a decision of the Minister of Finance published in the Government Gazette, Greece will marginally lift the cash limit on bank account withdrawals.

New regulations, effective on Sept. 1, will allow individuals to withdraw lump sums of up to 1,800 euros per calendar month, compared to a maximum 840 euro limit every two weeks which existed previously.

The decision also allows companies and individuals to open new bank accounts.

Greece first imposed capital controls in mid-2015 to stem a flight of cash from its banks at the height of a debt crisis, which led to its third financial bailout since 2010.