ČSOB from November, it will tighten the conditions for free use of its premium banking. This is not a major restriction: it is enough to pay by card three times each month.
The condition of “active use of other products and services” will also apply to clients who joined the ČSOB Premium program before the end of October 2020. Until now, only those who set up the ČSOB Premium service after November 1, 2020 had to fulfill it.
The client can meet the condition of active use in two ways, one of which is sufficient:
The first option is to “make at least three card transactions per month” with a debit or credit card issued for a premium account. It does not matter the amount of the payment or its form (terminal in the store or via the Internet).
The second option is “ownership of at least two ČSOB Group products that are not provided to the client free of charge”. It can be, for example, a consumer loan, mortgage, building savings, insurance, pension savings, investments in mutual funds and others. Services that the client has for free as part of premium banking – typically travel insurance – are not counted.
The existing main criteria for the ČSOB Premium service will not be tightened. Furthermore, it is sufficient to fulfill one of three conditions: Anyone who has at least 50,000 crowns per month in their account, or has at least one and a half million crowns deposited in the ČSOB group (for example, on deposit products), or has a mortgage from Hypoteční banka or ČSOB stavební spořitelna in total for at least three million crowns.
The first two conditions are to remain the same after the beginning of November, despite inflation therefore, the limit for income or savings will not increase either. The third condition will be slightly expanded: in addition to mortgages, general loans from the ČSOB group (except revolving loans) will now be counted.
The mentioned conditions need to be met every calendar month. If they are not complied with, the bank may charge the client a fee of 900 crowns in the following month – that’s how much it costs account Premium according to the price list if the criteria are not met. In practice, the bank usually resolves these cases individually with the client, in exceptional situations the fee may be waived.
In addition to a personal banker, the ČSOB Premium service includes, for example, travel insurance for the whole family with high limits, free withdrawals from ATMs around the world, card loss and theft insurance, insurance for certain purchases against damage or theft, an extended warranty or four entrances to airport Lounge Key lounges for year.
Much more prominently tightened the conditions of its premium bankingí Česká spořitelna. Since last September, it is no longer enough for the client to have at least 70,000 crowns in their account to maintain a free Erste Premier account. It is now necessary to have at least 250,000 in deposits, investments or loans in the savings bank. This is a so-called combined criterion. It can be replaced by one of the other two optional criteria: deposits or investments worth at least 2.5 million crowns (since September it is one million more than before) or the sum of deposits, investments and loan products in the volume of at least four million crowns. If at least one of the three criteria is not met, there is a risk of a monthly fee of 2,500 crowns.
