Changes to price lists and services change at all banks and throughout the year. In November, however, two important Czech banking houses fell in price. Are you familiar with the changes and where they are headed?
Are you familiar with changes?
You may feel that going to a branch is sometimes an unnecessary luxury. From November, that feeling may deepen, because ČSOB and Komerční banka are raising prices, especially for cash. A similar trend will probably appear sooner or later at other banking houses as well.
During the whole year, more or less all banks change their tariffs and conditions, which is reflected in the price of services. Each change has a reason and usually indicates what behavior the bank expects from you.
We often do not read e-mail correspondence on this topic or we do not understand the changes and cannot compare them. Feel free to use artificial intelligence for this, because it can quickly compare old and new conditions, but remember that it is good to verify every piece of information in the end.
It is also convenient and clear when you learn to work with it. At the beginning, everyone is worried about whether they can handle the application, however, it is very practical and today the application can arrange a lot of things in a matter of seconds or minutes.
ČSOB account holders get smarter!
ČSOB no longer offers free cash deposits at the branch. You will pay again CZK 70 for a deposit of your own money. For coins, the fee increases to 5 % from the deposited amount (minimum CZK 150) if you bring more than one hundred pieces of the same value.
It also makes it more expensive to deliver cash to an address. The price rises from 65 to 125 CZKif you have no discount.
The exchange of banknotes or coins of more than 100 pieces of one value will cost 10 % from the submitted amount (min. 200 CZK).
You will pay again with euros 5 %at least CZK 150, if you deposit more than 50 pieces of the same value.
But there are smaller positives. For ČSOB Premium credit cards, the CZK 20 fee for automatic repayment disappears if you set it manually. And good news for parents. You will now be able to change limits for children’s accounts directly in the application, not just at the branch.
At the same time, the bank adds a warning in its terms and conditions that the virtual assistant Kate may not always have accurate information, so it is advisable to check it. This is quite sad, especially if the banks are pushing us into online communication, and yet they are not able to provide it with sufficient quality.
Komerční banka: Minor changes that you will feel
Komerční banka is shifting fees for working with cash. The deposit at the counter has a new cost CZK 50as long as you do not exceed 50 deposited coins. The fee for withdrawing cash at the branch is increased from 125 to 150 CZKwhen it comes to a smaller number of coins.
If a third party deposits your money, the minimum fee increases from 125 to 150 CZK.
And credit card users 4U will feel the biggest change. Free ATM withdrawals end. You will pay again 1% of the amountat least CZK 30, including in a shared network of ATMs (KB, Moneta, Air Bank).
November changes in practice
If you often work with cash at the branch, it’s time to consider whether it makes sense to move part of the operations to ATMs or to an online environment.
With more coins, the new fees add up quickly and can add up to a large amount.
If you use a 4U credit card for withdrawals, you may want to rethink this strategy.
ČSOB openly states that people use cash registers less often, their operation is more expensive and most clients switch to ATMs. Banks thus change the entire setup of working with cash and push clients to operate cheaper operations.
