Bank fees are making a comeback in style in the Czech Republic. It shows how important was the effect of competition in the form of smaller banks, which are gradually disappearing from the market. Everything is once again starting to be controlled by a few large banks, which do not hesitate to raise fees quite significantly again.
What are they really after?
Vojta Žižka, a former banker of Česká spořitelna, drew attention to one really unpleasant one. Coincidentally, he leaned against his former employer for charging a really high fee, namely 1000 CZK, for an incoming foreign payment.
“Should I feel healthier after paying a fee of 1000 CZK for transferring a few thousand USD to my account? Will you be an example to others and change it, or will it remain just slogans,” Žižka alludes to the fact that Česká spořitelna currently has a large advertising campaign where it emphasizes that it cares about the financial health of its clients.
However, it should be noted that other large banks have a similarly high fee for this service. These are ČSOB, Komerční banka, Unicredit or Moneta. These banking houses usually argue that there is simply no other way, since they have to pay fees even to so-called correspondent banks that intervene in transactions outside the European Economic Area.
Good day, @TSalomon_Sporka a @Ceskasporitelna, you say that you are the first bank that cares about the financial health of clients. Should I feel healthier after paying a fee of 1000 CZK for transferring a few thousand USD to my account? Will you be an example to others and change it, or will it just stick to slogans? pic.twitter.com/qVFUlrGb7b
— Vojta Žižka (@VojtaZizka) February 26, 2024
But it is cheaper, and significantly so. As shown by the remaining smaller banks. They charge ten times less for this service in unison, i.e. around 100 CZK. These are Fio Bank, Air Bank and Creditas. So they are the ones who really care about the financial health of the clients.
Foto: Shutterstock
Another nasty case
At the same time, Česká spořitelna also upset another important client. That is entrepreneur Michal Bláha. “I send a couple of euros to another account at Česká spořitelna and they want a fee for it,” says the entrepreneur, who is clearly concerned with principle. “To another bank, I would understand. However, before sending, they write a fee of 0.20 euros and then they deducted 0.28 euros from my account and from the destination as well. The price list says it’s free and then it’s edited to say it costs CZK 7.“
The first problem with @Ceskasporitelna.
1️⃣I send a few hundred euros to another euro account in the Czech Republic, and they want a fee! To another bank I would understand. But!👇
2️⃣ before sending, they will write a fee of 0.20 euros.
But then they deducted 0.28 euros from my account and from the target account as well.
3️⃣ The great thing about enik is that it’s free,… pic.twitter.com/q7cvLvlGh6— Michal Blaha (@michalblaha) March 3, 2024
Here, the client came across an unpleasant “trick” of Česká spořitelna. It does indeed declare that it provides so-called SEPA payments free of charge, as can be seen from its price list. But only from accounts where currency conversion is expected to be carried out, from which the bank also has money, as its exchange rates are disadvantageous.
Read also: ATMs in the Czech Republic will rob you of money again. Just one wrong press and you pay the fee immediately
However, if you transfer euros directly from a foreign currency account, you must pay a fee of CZK 7. And if the other party also has an account in a foreign currency, i.e. most likely in euros, you will again pay CZK 7 for the incoming transaction. “And so not really,” roared Blaha.
At the same time, it was not so long ago that Česká spořitelna changed its price list and significantly increased the price of a number of items in it. For example, the payment for confirmation SMS has already risen to CZK 3.50 per piece.
Foto: Shutterstock
2024-03-03 20:00:00
#largest #Czech #bank #flooded #clients #Burned #fees #outrageous
