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GreekReporter.comAustraliaNational Australia Bank Halts Transactions with Every Greek Bank

National Australia Bank Halts Transactions with Every Greek Bank

Officials of the National Australia Bank (NAB) decided to halt every transaction with Greek banks “to protect their clients,” due to the worsening financial crisis looming over Greece.

More specifically, Lifo website reports that during the past two weeks, the Australian bank stopped drawing checks that would be cashed in Greek banks, as well as any e-banking transactions direct to Greece. The customer should follow the following procedure to send money to Greece via the online transaction system: they should send the money to the German Deutsche Bank Frankfurt who in turn will transfer the sum to Greece.  The result of all this–the Australia-based sender pays more fees, including those of the German bank!

Nab representative Fiona McRae, director of the Public Relations Sector of the bank, confirmed the news about the transactions with Greece. She said: “The recent downgrade of the Greek banks by international ratings agencies and our bank’s policies concerning the risk management to protect our clients’ transactions led us to this decision.” Mrs Fiona added that “our first priority is the protection of our clients’ interests.”

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