In the past ten years, we got used to the fact that complicated price lists of banks were rather cleaned up and various, more or less, absurd fees disappeared from them. However, you still remember how you had to pay for account management, any outgoing, but often also incoming transaction, or even for the cancellation of the account itself. There were also various competitions in which the least meaningful fee was evaluated.
A high amount for a common thing
Then, of course, competition came in the form of smaller banks, which built on the fact that they were purely free of charge and did not really charge a single crown for routine operations. Although the big banks didn’t want to at first, they eventually had to react to it, which led to the cultivation of the entire banking market. Today, no one will charge you anything for a current account, let alone for individual payments.
However, the situation has already stopped developing in the right direction. On the contrary, a number of banks on the Czech market have closed, most recently Sberbank, Equa Bank or Hello Bank, for whatever reasons. Big banking houses are once again realizing their opportunities and some of them are once again introducing quite pointless fees.
The fee for sending an SMS is very popular on their part. This could still be understood with various informative messages, such as account changes and balances. These are not things you necessarily need to operate the account. However, banks have also started charging for authorization SMS, which are used to log in to internet banking or to confirm a payment.
The last time Moneta Money Bank did this was that they didn’t bother with it at all and since October 1 they are charging people a really hefty fee for an authorization SMS message. It costs CZK 5, and if you continue this method of verification, it will deplete your account quite quickly. For example, those who check the status of their account every day, which is definitely a good thing in the age of various internet frauds, and regularly make various transactions, can easily pay several hundred crowns a month.
Foto: Shutterstock
Clients don’t like it
The bank argues that it has certain costs with sending SMS and offers people an alternative to sign up. This is nothing more than authorization using a mobile application, which, however, requires ownership of a smartphone and an installed application.
“I don’t really want to have my bank on my mobile because I don’t think it’s safe. What if I lose it somewhere? I always logged in only on my private computer at home using SMS. And now I have to pay for it” says Mrs. Andrea, who does not like Moneta Money Bank’s approach at all and is seriously considering switching to a competitor.
Also read: They withdraw one bank account after another. The crooks in the Czech Republic came up with a new trick that works great for them, they take everything from you
However, the truth is that other banks are also moving towards a similar model. For example, ČSOB or Česká spořitelna also already charge for authorizations using the message, but they are cheaper in this respect. One SMS will cost “only” CZK 2.50. However, there are still a number of banks that allow you to log in and confirm payments in this way for free. However, the question is how much longer.
Foto: Shutterstock
2023-10-28 16:00:00
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