Greece ‘Bank Holiday’ Through to July 6, Withdrawals Only at ATMs

The Greek government announced on Sunday, that a “bank holiday” would be in effect through to Monday, July 6, in efforts to put a damper on cash being transferred abroad and prevent banks from collapsing.

During this period, all banks, Greek or foreign, will remain closed. In this time, Greek account holders can make cash withdrawals from automated teller machines (ATMs) of up to 60 euros per day — the payment of pensions is exempt from the restrictions with banks informing on methods of payment in due time.

Foreign card or prepaid card holders will be allowed to withdraw the maximum limit set by their bank.

Furthermore, e-banking, Web Banking or transactions by telephone for payments within the country, namely for payments credited to a given account held in Greece can be carried out.

Banks are expected to reopen on Tuesday, after the result of the July 5 referendum, which was announced early Saturday.

Foreign governments have advised travelers to Greece to bring along cash, warning of the liquidity crunch.

In the meantime, Reuters reported that the euro has fallen sharply against the dollar.

To read the Government decision (in Greek) on Greece’s bank holiday, press here.