Despite offering the first prepaid MasterCard with 14 currencies on a single card at ‘spread free’ exchange rates, Centtrip is urging holidaymakers visiting Greece in the next few days to physically take enough spending money for their entire holiday, because it believes local merchants may impose limits on how much they will accept by card, or reject cards altogether as they fear they will not be able to access funds from their own banks.
Centtrip hopes that the level of uncertainty facing Greece will be removed soon, and that it can start recommending people use cards again when visiting the country.
Greece has announced that banks will be closed until July 6 – the day after a referendum on bailout proposals, and there is a €60 euro limit on ATM withdrawals. However, foreign tourists, a key driver of the Greek economy, will be exempt from the restrictions.
Brian Jamieson, Co-Founder and Managing Director of Centtrip, said: “Although customers will be able to use our Centtrip card and others at ATMs, they will be faced with long queues to withdraw their money. Local merchants may also impose limits on how much they will accept by card or reject these altogether because they may be concerned about accessing funds from their own bank.
“During the current situation in Greece and the uncertainty that prevails, we are advising people to take all the spending money they think they will need for their entire holiday in hard physical Euros. As the situation develops, we will provide further recommendations to our clients and to those travelling to Greece.”
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