Greece to further ease restrictions on individual bank withdrawals

Greece will marginally lift the cash limit on bank account withdrawals and allow the opening of new accounts as part of an incremental easing of capital controls first introduced in 2015.

New regulations, effective on September 1, will allow individuals to withdraw lump sums of up to 1,800 euros per calendar month, compared to a maximum 840 euro limit every two weeks which existed previously.

The decision also allows companies and individuals to open new bank accounts, according to a decree from the Finance Ministry published in Greece's Official Gazette on Thursday.

Greece first imposed capital controls in mid-2015 to stem a flight of cash from its banks at the height of a debt crisis which led to its third financial bailout since 2010.

[Reuters]