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Greece Increases International Transaction Amounts

The Greek Banking Transactions Approval Committee confirmed that the daily cap for international banking business transactions will be increased to 7 million euros, from a previous 5 million euros mark.

Additionally, the highest monthly foreign transfer amount for financial institutions has been marked at 40 million euros, while individual transactions is set at 500 euros per month.

The daily transfer limit is predicted to offer leeway to the private sector, while the Finance Ministry is aiming to set a 20,000 euro limit from imports. The limit's current value is 10,000 euros; businesses have been calling for a rise.

The current amount of 2,000 euros per foreign traveler remains as is, while a 5,000 euro cap has been placed on international students for each academic quarter year.

(Source: Kathimerini)