Banks against ban on coin-handling fees

The Slovak Banking Association (SBA) views a proposal to ban commercial banks from charging fees for handling coins as a bad move, said SBA president Igor Vida on February 9. According to SBA members, such a move is not justified and would be a violation of EU rules concerning legislation and competition, the TASR newswire wrote.

The Slovak Banking Association (SBA) views a proposal to ban commercial banks from charging fees for handling coins as a bad move, said SBA president Igor Vida on February 9. According to SBA members, such a move is not justified and would be a violation of EU rules concerning legislation and competition, the TASR newswire wrote.

The problem with euro coins is unique and temporary, said Vida. The surplus of euro coins in circulation was caused by businesses ordering more coins than they needed. The European Commission is partly responsible for this, he added, as it recommended putting more coins into circulation than normal based on the experiences of other countries that had adopted the euro, reported TASR.

Individual banks have already lowered their fees. The situation should be back to normal at the end of March, said SBA presidium member Imrich Bereš, adding that a ban on cash-handling fees would be an unprecedented legal move. Moreover, it could lead to the importing of euro coins from other countries where fees are charged for such services.

The parliamentary committee for financial, budgetary and currency affairs has supported a proposal drawn up by SNS MP Ján Ďuračka that states that commercial banks will be banned from charging fees to traders for depositing coins in their accounts. The proposal is due to be discussed in Parliament during the current session. TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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