By Chrysostomos Tsoufis

The government found that the banks have deviated from the core of their original mission and with 6 measures, which were announced by the prime minister himself from the floor of the Parliament, he is trying to get them back on the (intended) track.

SUPPLIES FOR BASIC PAYMENTS

The prime minister announced zero fees for payments to:
Public
Insurance Funds
Municipalities – Regions
Utility bills (Electricity, Water, Telephone)

The study of the charge data published by the banks themselves on their websites shows that the charges are scaled according to the customer’s payment method (over the counter, ATM, internet, mobile banking, direct debit system):
For the payment of certified taxes, a charge of up to €2.5
For payment in OTA up to 2.5€
For utility bills up to €3
For payment to insurance funds – chamber fee up to €3
For payment to insurance companies up to €3

EMBASMATA

Money transfers for amounts up to €5,000 are subject to a charge ceiling of €0.5 per transfer.

Banks currently charge €10 to €17 for remittances of up to €5,000 to a bank within the European Union. The amount increases to €20 if the transfer is urgent.
Fees increase for remittances in a currency other than the euro or to a bank outside the eurozone to even €37

LIGHT

As had written, from 2026 banks and real estate managers will pay double ENFIA.
It is estimated that the banks have at their disposal about 20,000 properties, half residential and the other half business. The servicers have 13-15,000 properties. Properties that are stagnant since they have no use.
The double ENFIA will increase the cost of maintaining this stock of properties and therefore the pressure to bring them to market by increasing supply and therefore pushing down purchase and rental prices according to the government’s reasoning.

STRENGTHENING COMPETITION

Previous restrictions on the ability of businesses outside the banking system to give business and housing loans are lifted. The prime minister spoke in particular about lending to small and medium-sized businesses, which have difficulty accessing financing and when they do, the interest rates are very high. With the possibility of granting loans from large companies with liquidity, competition with banks will increase leading to the rationalization of interest rates.

AGENT OF ACQUISITION AND RE-LEASE OF PROPERTIES

It was agreed with the banks that they will participate with €100m in the specific private entity which, when it is operational – it should already be operational and now the target is set somewhere in April 2025 – will buy properties through auctions at a 30% discount on their commercial value. But it will enable their former owners (who lived in them and were their main residence) to stay for 12 years paying rent which will be subsidized based on property and income criteria with €70 to €210 per month. After 12 years and as long as their financial situation allows it, the former owner will be able to repurchase their property from the agency.

MARIETTA GIANNAKOU PROGRAM

Banks will “voluntarily” contribute €100m to the MARIETTA GIANNAKOU program. The amount is very significant if one considers that the total budget of the program aimed at building new or renovating existing schools is €250m

In addition to the measures announced by the prime minister, the following will work:
Zeroing of the charge for charging prepaid cards up to €100
The expansion of the transaction limit through the IRIS system to €1000 daily without commission. (€500 for payments to friends/individuals and €500 to businesses)
The announcement from the beginning of January 2 times every month by the Central Bank of all bank charges, commissions and interest rates so that consumers can be informed and compare.