Yesterday, Prime Minister Kyriakos Mitsotakis announced in Parliament [1], [2] a set of measures that will take effect in early 2025, focusing on the banking sector. These measures include:
Zero fees for bill payments and public debt transactions via e-banking, and a maximum charge of €0.50 for money transfers up to €5,000 through wire transfers (from one bank to another).
Zero fees for ATM withdrawals from other banks in remote areas (e.g., islands), an increase in the daily IRIS payment limit to €1,000, and no fees for loading up to €100 on prepaid cards.
He also announced that, starting in 2026, the ENFIA property tax on bank-owned properties (approximately 25,000) will be doubled to encourage their release to the market, aiming to reduce rental costs.
Banks generate approximately €200 million annually from fees and transaction charges.
The four major systemic banks will allocate an additional €100 million to fund the renovation or construction of new schools as part of the “Marietta Giannakou” Program.
Banks generate approximately €200 million annually from fees and transaction charges. In 2023, Greek banks reported profits of €3.8 billion and plan to distribute dividends from their 2024 profits for the first time in 16 years.
The opposition criticized the new measures as “too little, too late,” claiming they are largely symbolic and fail to address the banks’ excess profits.
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