kathimerini.gr
Greece Caps ATM Fees at €1.50 After Years of High Costs
Greece's government implemented new ATM fee regulations, effective August 11, 2025, capping charges at €1.50 for non-network ATMs and offering free withdrawals in areas with only one ATM, following previous unsuccessful interventions by the Competition Commission to address high ATM fees.
- What immediate changes will the new ATM fee regulations in Greece bring for consumers?
- Greece's government intervened to regulate ATM cash withdrawal fees, capping charges at €1.50 for non-network ATMs after two previous interventions by the Competition Commission failed to lower fees, which remained among Europe's highest.
- How did previous attempts to regulate ATM fees in Greece fail to address the high costs?
- High ATM fees in Greece, despite previous regulatory attempts, led to government intervention. The 2008 and 2023 Competition Commission decisions, aiming to curb anti-competitive practices, proved insufficient. This resulted in new regulations, including a €1.50 cap on certain withdrawals.
- What are the potential long-term consequences of the new ATM fee regulations for the Greek banking sector and its customers?
- The new regulations may lead to ATM withdrawals becoming free in areas with only one ATM, regardless of ownership, and a maximum charge of €0.50 for ATM transfers, while also potentially distorting competition by benefiting smaller banks. Concerns remain about potential ATM closures in remote areas, impacting residents who may be less familiar with digital payments.
Cognitive Concepts
Framing Bias
The narrative frames the government intervention as a necessary response to exploitative bank practices. While presenting facts about high ATM fees, it focuses heavily on the banks' responses and the government's efforts to address the issue, potentially downplaying alternative perspectives or the effectiveness of prior interventions. The headline (if any) would heavily influence this bias.
Language Bias
The article uses somewhat charged language, such as "exploitative bank practices" and "erasi-techniki χειρισμούς" (amateurish handling), which reveals a critical tone toward the banks. More neutral language could include describing the practices as "high fees" or "unintended consequences", respectively. The use of the phrase "έφοδο" (raid) to describe the Competition Commission's investigation is also sensationalist.
Bias by Omission
The article focuses heavily on the perspective of banks and the government, potentially omitting the views of ATM users, especially those in remote areas. The impact on smaller banks is discussed, but the detailed experiences of individual citizens are largely absent. The long-term consequences of the changes are also not fully explored.
False Dichotomy
The article presents a false dichotomy between the government intervention and the potential negative consequences (ATM removal from remote areas). It does not explore alternative solutions or a wider range of policy options that could balance the needs of consumers and banks.
Sustainable Development Goals
The new regulations aim to reduce the cost of cash withdrawals from ATMs, thus benefiting lower-income individuals who may rely more on cash transactions and are disproportionately affected by high ATM fees. The elimination of fees for certain transactions and the imposition of a cap on fees promotes fairer access to financial services.