Greek banks are considering a joint ATM model to tackle high operating costs, inspired by the success of the model in Portugal.

The proposal aims to create a network of ATMs operated under the same brand, similar to the Portuguese Multibanco model, which allows banks to share operating costs. This comes in the wake of the abolition of fees on cash withdrawals, which has affected ATM profitability. The fee-reduction law will come into force on August 11, which could affect Greek banks' revenues from fees charged to tourists.