By David Robinson

The current situation in Greece has led to certain financial restrictions that could potentially affect visiting yachts. Inchcape Shipping Services (ISS), the world’s largest port agency operator, has provided an overview of the situation.

ISS points out that the capital controls enforced by the Greek government on 28th June, 2015 are continuing. This means:

  • All Greek banks are currently closed until Tuesday, 7th July
  • ATM withdrawals from Greek credit and debit cards have a limit of €60 per card, per day
  • The Ministry for Economy, Infrastructure, Shipping and Tourism in Greece has advised that there are no current restrictions on foreign bank cards; all foreign bank card-holding tourists/passengers should have normal access to funds
  • Remittances from Greek banks to any non-Greek bank are not possible or are subject to approval from the Ministry of Finance
  • Credit/debit cards are currently operating without limits, as long as the receiving bank account is in Greece
  • Internet banking and bank transfers are currently working normally as long as the receiving bank account is in Greece
  • With the above, ‘cash to master’ withdrawals are affected and will not take place in any Greek port until at least 7th July

As for ISS activities, which often and increasingly involve yachts, they are continuing in Greece despite the latest local developments. ISS Piraeus personnel are keeping suppliers and principals informed. “The current capital controls do not represent a risk to any port operation for ships or their passengers calling under ISS agency oversight in Greece at this time,” says the company.