Credit card

Thousands of Greek people are facing a serious cash crisis after the daily cash withdrawal limit from the country's ATMs was restricted to just 60 euros per day and the use of credit cards was frozen until June 7.

The level of the economic crisis being experienced at the moment is beyond what they imagined when they voted in January, electing the radical left coalition of Syriza. 

After talks in Brussels broke down in acrimony, there were recommendations and warnings made by countries to their nationals traveling to Greece.

United States:

The Greek government assured that foreign tourists staying in the country will be able to withdraw money and make transactions if in possession of a credit card issued in their home country.

According to the information, anyone issued with a credit card in a foreign country will not be affected by the newly imposed measures, which limit bank withdrawals, daily Kathimerini reports.

Prime Minister Alexis Tsipras’ announcement for a referendum that puts international creditors’ proposals to voters on July 5 immediately had an impact on transactions taking place on the islands.

Greek resort manager Costas Dimitrokallis?s customers have started asking in recent weeks about an amenity often ignored in an age of online and credit card payments: reliable hotel safes to stash their money.

The first ATM using face-recognition technology was presented by China. The novelty ATM aims to combat cases of theft and fraud, according to its designers.

A total of 43 tech retail stores have closed down in the last seven months in Turkey, mainly due to restrictions on the use of credit cards to purchase mobile phones, while also increasing revenues as they cut costs, figures have shown. 

Finance Minister Yanis Varoufakis confirmed a report by Proto Thema on April 20 stating that people will be offered incentives for cash card purchases.

VAT contributions worth 6.5%, 9.5%, 15% and 18% with the average tax rate beneath 15% even if there is a change to the 30% discount on islands with the possibility of VAT on food item charges changing from 13% to 6.5% and 9.5%.

By Evgenia Tzortzi

The government is planning to offer a cash return incentive for Greeks who as of July 1 use debit or credit cards on certain islands for purchases above a threshold of 50 or 70 euros.

By Evgenia Tzortzi

Lotteries with rewards for receipts collection by taxpayers, which could even include cash prizes, as well as free drinks and tickets to events and museums for tourists visiting Greece are among the incentives proposed by the General Secretariat for Public Revenues to combat tax evasion by promoting the use of electronic transactions.