Greek Depositors Entitled to Withdraw €420 Each Week Beginning Monday



banks_openAfter Deputy Finance Minister Dimitiris Mardas announced that banks will open on Monday, the Greek government issued a Legislative Content Act that delineates the new rules and restrictions for capital controls.

Though the daily withdrawal limit will remain at 60 euros per day, depositors will now be able to collect up to 420 euros per week. Thus if a depositor prefers to skip a daily withdrawal, they can let the 60 euros roll over to the following day and can do this all the way up to the end of the week. However, if a depositor does not withdraw any money during a whole week, those 420 euros will not carry over to the next week.

Furthermore, pensioners are eligible to collect 300 euros from their pension per week.

On Monday, 2,500 bank branches across Greece will reopen.