6  BIS central bankers’ speeches  In this regard, it should be mentioned that the fees charged by Greek banks on POS usage correspond, on a weighted average basis, to about 1.1% of the payment amount, compared with 1.8% in the US and 1.3% in the EU, and that the bulk of these fees goes to international card clearing houses and not the banks themselves.
Finally, it is important to note that Bank of Greece inspections of compliance with the capital controls legislation have shown that the banks’ management and staff have effectively ensured the compatibility of their operations with the regulatory framework, despite the various implementation difficulties.