Three Greek developers, Dimitris Chatzieleftheriou, Harry Spentzas and Christos Kritikos, came up with the idea shortly after capital controls were put in place in the country.
“With two clicks you can let all the app users know if there’s money [in an ATM] and also whether there are 20s or just 50s,” says Xatzileftheriou. In addition, you can see live updates from users (for example, that 20 seconds ago a particular ATM had 20s)”. The app doesn’t have any actual data from banks.
The controls were put into place to prevent people draining the banks dry for fear of losing their savings if Greece were to exit the euro following its bailout referendum. Banks shut down, and the amount people could withdraw from ATMs was limited to just €60 a day. This led to long lines at cashpoints as people tried to access their money, with many running dry.
“Technically it was not difficult,” Chatzieleftheriou said. “It took us 1-2 days to prepare. The most demanding part was to find all the ATMs in Greece and register them.”
The app is only available for Android right now and will be on the Apple App Store too, as soon as it gets approval for download.
Source: Business Insider, Huffington Post