How to get money out of Greece?
Thread poster: Jana Garnsworthy

Jana Garnsworthy
Local time: 23:49
Czech to English
+ ...
Oct 12, 2015

Hi all,

This question is perhaps best suited at fellow Greek translators. Recently, I finished the translation of a book for a Greek client. Unfortunately, as we later discovered, sending payment to the UK is not as simple as it used to be... International bank transfer doesn't work and PayPal has been disabled in Greece. Has anyone had a similar experience? Any suggestions of how to get money from Greece to the UK?

Thank you.

J.


 

James Heppe-Smith  Identity Verified
Germany
Local time: 00:49
Member (2010)
German to English

Moderator of this forum
Perhaps this might help Oct 12, 2015

UK Government website:
https://www.gov.uk/government/news/greece-has-introduced-temporary-capital-controls-guidance-for-businesses

Recent article from Daily Telegraph:
http://www.telegraph.co.uk/finance/economics/11810974/Greeks-can-now-send-money-abroad-as-capital-controls-eased.html

From both the above, you may be able to get paid at a rate of EUR 500 per month (!), or possibly more if the client is able to get authority (perhaps using the invoice to prove the debt?). Is it a private client, or a company?

Good luck!

Edit to add: It would appear that the restrictions have been reduced further and up to EUR 5,000 can now be transferred for business transactions?

http://greece.greekreporter.com/2015/10/05/greek-finance-ministry-makes-two-changes-to-capital-control-restictions/


[Edited at 2015-10-12 19:20 GMT]


 

Jana Garnsworthy
Local time: 23:49
Czech to English
+ ...
TOPIC STARTER
Thank you Oct 12, 2015

Dear James,

Thank you so much for your efforts! Despite of what it might or might not say in the first two links the transfer was not possible until about two weeks ago... The third link does look promising, though, and I will email my client (a private client) and hope that it's trueicon_smile.gif I suppose different Greek banks might implement their own rules as to what they do/don't allow...fingers crossed.

J.


 

Rania Ioannou  Identity Verified
United Kingdom
Local time: 23:49
Member (2015)
English to Greek

MODERATOR
International bank transfers should be available now Oct 12, 2015

I don't know the details but I will talk out of experience. I have recently received a payment exceeding EUR 500 from a Greek translation company in my UK bank account. They should be able to send money abroad now for business purposes - they might need to ask for a certain permission but it is feasible. The accounting department of the company you worked for should know that this is possible and they should know how to transfer the money to your account. Unless of course the client is a private person in which case it may not be possible yet or might be more complicated. Probably PayPal is not an option yet for business or other purposes.

I hope they are not using the recent mishaps as an excuse to delay payment.


 

Jana Garnsworthy
Local time: 23:49
Czech to English
+ ...
TOPIC STARTER
Thank you Rania Oct 12, 2015

Thank you for your message Rania. The client is very respectable and I don't think they are trying to get out of paying. As I said to James, the last time she tried transferring the money was more than two weeks ago so, hopefully, it should work now. I have emailed her and will see what happens.

 

Markus Nystrom  Identity Verified
United States
Local time: 17:49
Swedish to English
+ ...
Alternate instruments Oct 14, 2015

You could request that they send you an insured package of silver coins, or share certificates in some publicly traded enterprise, or a crate of olives. Or bitcoin. Anything is better than fiat currency, whose value is arbitrary and constantly degrading. What has happened to Greece will happen in every other country as well once the banks run out of money to steal to backstop their leveraged bets gone sour.

 

Jana Garnsworthy
Local time: 23:49
Czech to English
+ ...
TOPIC STARTER
Money received now :) Oct 14, 2015

Thanks to James and his very useful link the money has now arrived in my British bank account, yippeeicon_smile.gif Thank you all for your help!

[Edited at 2015-10-15 16:22 GMT]


 

David Lin  Identity Verified
United Kingdom
Local time: 23:49
Member (2013)
English to Chinese
+ ...

MODERATOR
Great update Oct 15, 2015

James Heppe-Smith wrote:

Edit to add: It would appear that the restrictions have been reduced further and up to EUR 5,000 can now be transferred for business transactions?

http://greece.greekreporter.com/2015/10/05/greek-finance-ministry-makes-two-changes-to-capital-control-restictions/




Many thanks James too as I've a Greek client struggling with bank transfer to my account in London.

Cheerio!icon_smile.gif

David


 

James Heppe-Smith  Identity Verified
Germany
Local time: 00:49
Member (2010)
German to English

Moderator of this forum
Glad it worked Oct 15, 2015

Good to hear that you have both got your payment issues sorted out. I know how frustrating it can be at times to be waiting for a client to pay up.

Although, a government / EU / World Bank caused delay is somewhat unusual!
James


 


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