In the light of the recent developments in Greece we would like to encourage observing a couple of recommendations before going to Greece or performing transactions with Greek business partners.
If you are planning to travel to Greece, we strongly recommend ensuring that you bring along sufficient amounts of cash with you.
Considering the current financial situation in Greece, for those of you who plan to travel to Greece, we recommend bringing along sufficient amounts of cash.
Recent developments have resulted in a situation where cash may not be available at ATMs in Greece, and limited card payment opportunities may exist at sales points or venues.
Citadele payment cards function in Greece as usual provided that cash is available at ATMs and merchants accept payment cards as a means of payment.
Reminder: when entering or exiting an EU member state you may be requested to declare your cash.
Please remember that, whenever crossing the border of an EU member state (both arriving and departing), all physical persons are obliged to declare cash that is equivalent or exceeds the amount of EUR 10 000.
We strongly recommend contacting your transaction partners in Greece before carrying out any transactions with them.
In case of carrying out transactions with partners in Greece, we strongly recommend to contact your transaction partners before making wire transfers to any Greek bank (IBAN account number begins with GR) and making sure that they are capable to perform their obligations and deliver goods or services in the current economic situation. Thus, before providing any services or selling any goods to partners in Greece, please make sure, whether they will be able to pay for them.
Do Citadele payment cards function in Greece?
Yes, they do. No restrictions exist in Greece regarding the functioning of MasterCard, Maestro, Visa and American Express payment cards (including payment cards issued by Citadele) issued outside of Greece. Thus, payment card transactions in Greece should function as usually, provided that cash is available at ATMs and sellers and service providers accept cards as a means of payment.
Is it possible to make payments to Greece?
Yes, it is still possible to carry out payments to Greece in various currencies (including the euro), however one must bear in mind that they may be delayed. We strongly encourage contacting recipients to make sure that their bank account data is still correct before making payments.
Is it possible to receive payments from Greece?
While Greek banks are closed, payments from Greece to other countries are prohibited unless the payer has received a special permit from the Finance Ministry's Commission. Such permits are available only for socially important payments. Citadele Bank will process all payments from Greek banks upon the receipt of money at our bank. We strongly recommend contacting payers to clarify how and when they plan to carry out payments.