kathimerini.gr
Greece: Surge in ATM Withdrawals After Fee Removal
Following the August 11th elimination of ATM fees in Greece, cash withdrawals surged 36% in August 2025 compared to August 2024, reaching 496,000 transactions totaling €101.4 million.
- What was the immediate impact of eliminating ATM fees for cash withdrawals in Greece?
- The immediate impact was a dramatic increase in ATM withdrawals. Transactions surged 36% in August 2025 compared to the previous year, reaching 496,000 and totaling €101.4 million. Over 66,000 transactions involved ATMs from different banks during the peak tourist season.
- What are the potential long-term consequences of the free ATM withdrawal policy in Greece?
- The policy's long-term viability is uncertain. Banks may reduce or sell off their ATM networks to offset increased costs, potentially leading to a reduction in ATM access or the reintroduction of fees by third-party providers. The sustainability of the policy for the banks is questionable.
- How did the elimination of ATM fees affect different stakeholders in the Greek banking system?
- Citizens benefited from increased access to cash, regardless of their bank's ATM network coverage. Smaller banks without extensive ATM networks profited by leveraging the investments of larger banks, serving customers without incurring costs. Larger banks, however, face increased operational costs and potential long-term losses.
Cognitive Concepts
Framing Bias
The article presents a balanced view of the impact of the new law on free cash withdrawals, highlighting both the benefits for citizens and the potential drawbacks for banks. While it emphasizes the increased ATM usage and the convenience for consumers, it also acknowledges the financial burden on banks and the potential for future network reductions. The introduction clearly states the main subject, avoiding sensationalism or biased framing.
Language Bias
The language used is largely neutral and objective. The article uses precise figures and data to support its claims, avoiding emotionally charged language. There are no significant instances of loaded terms or biased word choices.
Bias by Omission
The article could benefit from including perspectives from smaller banks beyond mentioning their benefits. A broader range of viewpoints from various stakeholders could provide a more complete picture. Additionally, the long-term economic consequences of the policy are not extensively explored.
Sustainable Development Goals
The new law eliminating ATM fees for cash withdrawals benefits citizens, especially those in areas with limited banking infrastructure. This reduces financial barriers and promotes equal access to financial services, thus directly contributing to reduced inequality. The increase in cash withdrawals demonstrates increased access to funds for a wider population.