"The Eurogroup's decision prompted the ECB to not increase liquidity to Greek banks and forced the Bank of Greece to recommend that banks remain closed, as well as restrictive measures on withdrawals," Greek Prime Minister Alexis Tsipras told the nation in his Sunday night address.

The bank deposits in the Greek banks are entirely secure," he reassured. "This holds true for the payment of wages and pensions as well."

Banks are expected to remain closed for the whole week before the Sunday referendum on the bailout conditions set by Greece's creditors.

There will be a daily 60 euro ($66) limit on cash withdrawals from cash machines, which will reopen Monday afternoon, Reuters reports citing a government official.

Online transactions will be allowed only within Greece while foreign transfers will be prohibited, the official said.