The FINANCIAL — Western Union Co. said it resumed money-transfer services that allow customers to move funds from Greece to more than 200 countries following the Greek government’s decision to allow the restart of certain outbound money transfers, according to Nasdaq.
Greece in late June shut down its banking system, ordering lenders to close, and its central bank moved to impose controls to prevent money from flooding out of the country.
The Englewood, Colo.-company on Monday said its customers will be allowed to send as much as 500 euros (US $562) a month to more than 200 countries through its agent, WorldBridge Payment Institution.
Western Union has been “working hard to restore Western Union services fully in Greece,” said Giovanni Angelini, Western Union vice president and general manager for Europe. “This has been a priority for us since the commencement of the enforced bank holiday in late June.”
Western Union already had reopened much of the money-transfer services that allowed transfers into Greek banks in July, though the funds were subject to bank-withdrawal limits set by the government.