Slovenská Sporiteľňa and VÚB Banka will increase fees starting from July

Two large banks in Slovakia, Slovenská Sporiteľňa and VÚB Banka, will increase several of their fees starting from July.

Some clients to pay more for ATM withdrawals

Slovenská Sporiteľňa decided to change one of the conditions for obtaining a bank account without a fee. Clients will have to make card payments in the amount of at least €350 to enjoy a free bank account. Currently it is €250. The conditions for young and older clients will remain unchanged, the SITA news agency explained.

An urgent transfer requested at a Slovenská Sporiteľňa branch will cost €10 more, rising to €40. The fee for depositing cash into a bank account will increase by €1, to €4.

Coin processing fees will also increase.

Also, the bank will increase a fee for a cash withdrawal from an ATM. For withdrawals from Slovenská Sporiteľna ATMs and Erste financial group ATMs, the fee will increase from €0.20 euros to €0.25. There will be a fee of €3.50 for withdrawing money from another bank’s ATM in Slovakia and in the European Economic Area countries. Currently, the fee is €3.

The cashless payment for goods and services will increase from €0.20 to €0.25.

“Card payments as well as withdrawals from our ATMs are free for the vast majority of our clients who have various types of SPACE accounts,” the bank said, adding that the fees apply only to the MINI SPACE account, Sporožíro senior, a basic banking product, and an account with basic functions.

VÚB’s new fees

As for VÚB Banka’s package accounts, in which the terms of the reward for loyalty are determined, the monthly volume of credit transactions for the first type of account will increase from €500 to €700. With the second type of account, it will rise from €1,000 to €1,200. At the same time, the client must use internet banking or a mobile application at least once a month, SITA added.

Balances in deposit accounts, savings accounts and investments will have to be at least €13,000 a month. Currently it is still €10,000.

The fee for sending statements by post will increase from €2.50 to €3.20.

The bank will also introduce a new fee of €10 for issuing an account confirmation letter based on a client’s request in internet banking or via a mobile application.

Deposits of cash into the account, as well as cash withdrawals from the account at a VÚB branch, or transfers and direct debits made at a bank branch will also become more expensive for the client.

The fee for transfers by bank cheque outside Slovakia and urgent transfers at a branch will also increase.

From July, a fee for a plastic credit card will also be introduced. Depending on its type, it will range from €0.25 to €0.50 a month. Payment card services at the branch will also become more expensive.