Lim­its in­creased for trans­ac­tions abroad

Kathimerini English - - Front Page -

The daily limit for banks’ busi­ness trans­ac­tions abroad will be in­creas­ing from 5 to 7 mil­lion eu­ros, the Bank­ing Trans­ac­tions Ap­proval Com­mit­tee has said, in­di­cat­ing a pos­i­tive step to­ward the re­lax­ing of cap­i­tal con­trols. In a sep­a­rate de­ci­sion, the monthly max­i­mum over­seas trans­fer limit for in­sti­tu­tions has been set at 40 mil­lion eu­ros, while the thresh­old for sim­i­lar trans­ac­tions by in­di­vid­u­als is 500 eu­ros a month. In­creas­ing the daily trans­fer limit is ex­pected to give some breath­ing room to busi­nesses and the Min­istry of Fi­nance is work­ing to­ward a limit of 20,000 eu­ros for im­ports, with­out lengthy pro­ce­dures re­quired for ap­proval from the banks. This limit cur­rently stands at 10,000 eu­ros, and busi­nesses have been ap­peal­ing for its in­crease. The limit for car­ry­ing cash abroad re­mains at 2,000 eu­ros per in­di­vid­ual per trip. A max­i­mum of 5,000 eu­ros per cal­en­dar quar­ter is al­lowed for cov­er­ing the cost of liv­ing for stu­dents study­ing abroad. Ac­cord­ing to the latest data, the ap­proval rate by the com­mit­tee for trans­ac­tions stands at around 60 per­cent.

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