Greek banks promise to ‘freeze’ hikes in transaction fees

The “freeze” of the planned November 1 hike comes after pressure from Prime Minister Kyriakos Mitsotakis at a meeting with bankers, which took place a few days earlier at the Maximos Hall.

On Thursday, Minister of Development and Investment Adonis Georgiadis warned banks in Parliament saying: “We are examining very carefully any harmonised practices of the three banks in particular. I am ready to send personal complaints. The Competition Commission will impose severe fines if violations are found,” he said.

The Greek PM had recently warned the bankers during a meeting against imposing increases on commissions, and especially at a time when the government was trying to increase the use of plastic money.

A second matter broached by the bankers and the PM was to review ATM charges especially in remote areas where there is only one trading machine.