New development in capital controls

The Bank of Greece today announced changes in the capital control restraining orders, which help more the greek companies having interstates transactions.

The new development are:

Transfer of funds using debit, credit and prepaid cards abroad for cross-border payments

It is clarified that now it is permitted the use of cards for purchasing transactions and payments:

A. Via Internet or Telephone to enterprises (e-shops) abroad except for the following categories:
– Clothes and footwear
– Home Furnishing
– Electronics / equipment
– Cosmetic
– Financial services (transfer money abroad)
– Works of art, auctions, pawnshops, stamp collections / coin
– Gambling, betting companies and video games
– Jewellery, watches and silverware shops
– Telemarketing services
– philanthropic organizations
– Dating services

B. In physical stores abroad except the categories of traders associated with handling money like: Securities-Brokers / Dealers, Gambling Transactions, Money Transfer, etc

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