Spectator on facebook

Spectator on facebook

FOCUS SHORT

Card fees increase at some banks

SEVERAL banks are increasing cashless payment fees, while Zuno bank is introducing a new fee for expedited issuance of a bank card.

SEVERAL banks are increasing cashless payment fees, while Zuno bank is introducing a new fee for expedited issuance of a bank card.

Prima Banka will increase its fees for cashless payments by 25 cents as of December, pushing the fee up to €1.50. Withdrawing cash from ATMs of other banks will also be more expensive, the Sme daily wrote on October 21.

UniCredit Bank has already increased the annual fee for the Maestro Bratislava Card (by 50 cents), as well as the fee for the XtraKarta card.

“Several banks have made changes and adjustments,” Maroš Ovčarik, an analyst for the Finančná Hitparáda website, told Sme. “Many of these concern services connected with the use of payment cards.” He said this might be related to a possible step by the European Commission to limit debit and credit card transaction fees.

Matej Kubinec of mBank, another direct bank, admitted that the regulation of fees for cashless transactions would probably impact a portion of the banks’ profits. However, mBank and several other banks denied any connection between their fee hikes and the expected changes from the EC.

One reason for the increases is to cover the expenses incurred from using these services so that banks can remain competitive, Zuzana Ďuďáková from UniCredit Bank told Sme. Prima Banka and Zuno also said such expenses led them to increase some of their fees.

The Slovak Banking Association declined to comment on the fee increases among Slovak banks, but its analyst Marcel Laznia noted that the EC’s proposal to regulate payment cards is still in the discussion stage.

“Even if the provision is approved, it should be effective only in two years,” he said. “Thus, it is unlikely that banks would already now be preparing for the potential regulation.”

Topic: Finances and Advisory


Top stories

Kysuce highway stalled due to missing money

Money is missing to finish the section of highway between Žilina and Poland, stopping the completion of the D3 highway project.

Road-blocking protest in Povina, Kysuce, demanding completion of highway bypass - February 16.

Slovak film won Generation Kplus section at Berlinale

The film Little Harbour that won the Crystal Bear – beating movies from many other countries - is the work of (mostly) Slovak women.

Director of Little Harbour, Iveta Grófová, with the Cristal Bear

State insulation falls behind expectations, ministry widens support

Only 134 homeowners in the first round and 62 in the second applied for a subsidy via the insulation programme.

Only 134 homeowners in the first round and 62 in the second applied for a subsidy via the state insulation programme. Illustration stock photo

US philosopher with Slovak roots, Michael Novak, dies

The man who advised politicians and even presidents Gerald Ford and James Carter died on February 17, aged 83.

Michael Novak