Greeks Starved for Cash

Global money-transfer giant Western Union has closed shop in Greece. This announcement came Monday, and it says its services won’t be available in the country for at least a week.

“Due to restrictions imposed across the financial sector by the government, our services are not available at this time,” Western Union’s statement said.

Still, alternative money-transfer companies are still permitting transfers into Greece. But there’s a catch: astronomical fees, often 50 percent of the amount of money being transfered from abroad even if it is being sent via credit or debt card, according to a review by CNBC.com.

CNBC

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