Pireaus Bank

For discussion, news, comments, questions and information about Crete & Greece.
Yin&Yang
Posts: 365
Joined: Thu May 24, 2012 6:03 pm
Location: Megala Horafia/Aptera

Pireaus Bank

Postby Yin&Yang » Sat Sep 15, 2018 5:38 pm

Does anyone have any more information?

Couldn't use Pireaus debit card in Inka this morning and when I presented my card at two cash machines, one Pireaus and one a different bank, was told that Pireaus are experiencing technical difficulties.
Someday is now : )

filippos
Posts: 5614
Joined: Mon Feb 05, 2007 7:38 pm
Location: Kalyves
Contact:

Re: Pireaus Bank

Postby filippos » Sat Sep 15, 2018 9:09 pm

Yin&Yang wrote:Does anyone have any more information?
Couldn't use Pireaus debit card in Inka this morning and when I presented my card at two cash machines, one Pireaus and one a different bank, was told that Pireaus are experiencing technical difficulties.

That's one of the reasons I use cash wherever possible: it doesn't have "technical difficulties".
Since we came to live here permanently I've used a debit card twice in face to face transaction, on both occasions to pay a hotel bill and I've used it on line a few times for things like booking flights. It's never been used to purchase goods. I have a Greek credit card which I've used occasionally when renting a hire car in the UK (I don't have a UK credit card). I also have a Greek pre-loaded credit card that I use for most Internet purchases in Euros. It usually has about €10 available and if I want to buy something I load the card immediately before making a purchase. Even if it's hacked the scammers can't run up big bills. I also have a UK debit card that's never been used for a purchase outside the UK* but it is used for online purchases payable in Sterling but the account balance is rarely above £100. The rest of our money is tucked away in other banks only one of which we use online to transfer funds occasionally for requirements here.

*On my last visit to the UK almost two years ago I tried to use it and it was blocked because the attempted purchase rang alarm bells by being so far from usual transactions.

Kilkis
Posts: 9780
Joined: Sat Apr 21, 2007 3:58 pm
Location: Near Chania

Re: Pireaus Bank

Postby Kilkis » Sat Sep 15, 2018 11:02 pm

For those of us that are tax resident in Greece, use of electronic payment is essential to ensure we get the maximum tax rebate, the Greek equivalent of a tax free allowance. That change in the tax code altered my purchasing habit from 90 % cash to getting on for 90 % card.

Until I came to Greece, I paid for virtually everything on card in the UK. Back then the threat to our liberty by the total withdrawal of cash was not an issue. Today, in the UK, I would pay cash for everything to try to fight back against the war on cash.

Warwick

filippos
Posts: 5614
Joined: Mon Feb 05, 2007 7:38 pm
Location: Kalyves
Contact:

Re: Pireaus Bank

Postby filippos » Sun Sep 16, 2018 3:15 pm

Kilkis wrote:Today, in the UK, I would pay cash for everything to try to fight back against the war on cash.
Me, too, for exactly that reason.

Kilkis
Posts: 9780
Joined: Sat Apr 21, 2007 3:58 pm
Location: Near Chania

Re: Pireaus Bank

Postby Kilkis » Sun Sep 16, 2018 4:43 pm

Slightly off topic but the finance minister claims that they are going to carry out further relaxation on capital controls soon but he doesn't give any details. See ekathimerini article.

Warwick

scooby
Posts: 1258
Joined: Thu Mar 04, 2010 6:54 pm
Location: Agia Nr Chania

Re: Pireaus Bank

Postby scooby » Tue Sep 18, 2018 3:21 pm

Kilkis wrote:For those of us that are tax resident in Greece, use of electronic payment is essential to ensure we get the maximum tax rebate, the Greek equivalent of a tax free allowance. That change in the tax code altered my purchasing habit from 90 % cash to getting on for 90 % card.

Until I came to Greece, I paid for virtually everything on card in the UK. Back then the threat to our liberty by the total withdrawal of cash was not an issue. Today, in the UK, I would pay cash for everything to try to fight back against the war on cash.

Warwick
It is so easy to pay by card, too easy, and when I move back to the UK I will also use cash only wherever possible. The Halifax fraud dept have just been on the blower as some scumbag has been trying to use my credit card details, everyone's information is out there just waiting for someone to hack and it must be a constant battle behind the scenes. Luckily they never managed to take anything before the Halifax blocked the card. It only takes one person to sell your details or use the details of your card themselves. Scary. I will in future draw money out each week etc and spend cash for everything I possibly can.
Men in suits will always make you pay.

Yin&Yang
Posts: 365
Joined: Thu May 24, 2012 6:03 pm
Location: Megala Horafia/Aptera

Re: Pireaus Bank

Postby Yin&Yang » Tue Sep 18, 2018 4:44 pm

Despite my initial question, we pay by cash on almost every transaction. We don't use credit cards and enjoy shopping in the small local shops, paying with cash, whenever we go out. We were caught on the hop the other day. Pleased to say that Pireaus' technical glitch is now sorted out and we were able to withdraw funds this morning. It was probably sorted out yesterday but we didn't go out.
Someday is now : )

TweetTweet
Posts: 296
Joined: Fri Jan 13, 2012 10:35 am

Re: Pireaus Bank

Postby TweetTweet » Tue Sep 18, 2018 4:57 pm

Greece imposed capital controls to stem a flight of cash from its banks in July 2015, when, at the height of its debt crisis, it faced bankruptcy and a euro exit.

Unfortunately, Greece is still bankrupt.

Please bring on the euro exit - at last the totally shafted younger generation might have a chance? But then you'd have to factor in/out the TOTAL destruction to intelligence caused by e.g social media.

Kamisiana
Posts: 142
Joined: Tue Jul 25, 2017 4:06 pm

Re: Pireaus Bank

Postby Kamisiana » Tue Sep 18, 2018 5:21 pm

European Central Banks analysis of the Greek austerity today http://www.keeptalkinggreece.com/2018/0 ... ltipliers/

Kilkis
Posts: 9780
Joined: Sat Apr 21, 2007 3:58 pm
Location: Near Chania

Re: Pireaus Bank

Postby Kilkis » Tue Sep 18, 2018 6:27 pm

It is odd that governments throughout the world justify increasing government spending based on a multiplier greater than 1, i.e. each €/£/$1 increase in government spending will generate more than €/£/$1 increase in economic output. Often very large multipliers are claimed. If they believe that, why do they assume that cutting government expenditure will have a multiplier less than 1, i.e. each €/£/$1 decrease in government spending will generate less than €/£/$1 decrease in economic output? They can't have it both ways.

It's amazing that nobody told them that is what would happen? Oh, sorry, isn't that exactly what that total idiot Varoufakis told them? I thought he was the one who was responsible for all Greece's ills today?

Warwick

Guy M
Posts: 254
Joined: Fri Mar 15, 2013 9:20 pm
Location: Kalamitsi Alexandrou

Re: Pireaus Bank

Postby Guy M » Wed Sep 19, 2018 8:43 am

To quote the comedian Al Murray when explaining the Euro crisis: ‘it’s much more complicated than that’ (it’s on YouTube - funny but not for the faint-hearted).

Varoufakis was right about the basic multiplier calculation, but you can’t magic up public spending in isolation - there are other economic impacts, as Greece knows all too well. This is what is annoying about Varoufakis: he speaks in sound bites that are designed to make him look even cleverer than he is. He wasn’t responsible for Greece’s economic woes - we all know they started way before Syriza - but he gets the blame because he is an easy target. Why is he an easy target: well, he’s a clever man with a rich wife who rides a motorbike and has cashed in on lecture tours after his brief spell in government. That’s enough for most people to dislike him, however unfairly.

Kilkis
Posts: 9780
Joined: Sat Apr 21, 2007 3:58 pm
Location: Near Chania

Re: Pireaus Bank

Postby Kilkis » Wed Sep 19, 2018 11:28 am

Guy M wrote:To quote the comedian Al Murray when explaining the Euro crisis: ‘it’s much more complicated than that’ (it’s on YouTube - funny but not for the faint-hearted)...


I wish you hadn't posted that. I've just spent 2 hours watching Al Murray clips. The last 6 minutes of this one are quite good. He explains the banking crisis. Obviously British oriented but it was the same crisis that triggered events in Greece.

Warwick


Return to “General Discussion & News”

Who is online

Users browsing this forum: No registered users and 23 guests