The accounts have been frozen - no withdrawals, not transfers - not even to another account in the same bank - additional Bank Holiday declared for Tuesday.
There will likely be some type of limit after that, and transfers out of country will likely be punitive.
“The accounts have been frozen - no withdrawals, not transfers - not even to another account in the same bank - additional Bank Holiday declared for Tuesday.”
You’ve been warned people.
I’ve read that as well. Looks like when the banks reopen Wednesday, capital controls will be in place.
I’d be willing to bet that out-of-country transfers will be impossible. They won’t be allowed.
Apparently, Cypriot-based banks operating in Greece are not affected by this, as they’re going to be taken over sometime this week by a Greek bank, and banks in the Northern sector of Cyprus, the TRNC, are unaffected by this measure as well.