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In 2021, bank customers in Serbia will have to reserve more money for certain common services, such as account maintenance, SMS notifications, use of ATMs, and cash withdrawals.
Based on the first information, these banking services, which are used by virtually everyone with a bank account, will be 15 to 60 percent more expensive next year.
There are 26 banks, 14 payment banks and two electronic money, operating in the Serbian market, and one bank has already started sending its clients framework agreements with new rates that will be valid from March 1, 2021.
Thus, maintaining the account from the third month of next year will cost 190 dinars, instead of the previous 160, it appears in the document that customers received. SMS notifications will require 100 dinars per month, instead of 70 dinars, and the minimum fee for paying in cash with a payment card at an ATM or another bank’s counter instead of 150 will be 200 dinars.
So in one year, you will pay 2,280 dinars just to keep the account instead of 1,920 dinars above, while SMS notifications will cost 1,200 dinars instead of 840 dinars today in 12 months in the future.
The card replacement service will increase in price by almost 70% if it is stolen or lost, for which it will cost 500 dinars instead of 300, and a fee has been introduced for checking the balance at an ATM with the help of a 40 dinar credit card.
Other banks also announced changes in rates and correction of certain prices of services. As they claim, it is already known that there will be certain corrections, but not in which direction they will go. Some bankers say that the prices of certain services have fallen, others have increased slightly, while for most services the price has remained unchanged.
For individuals, the rate for instant payments through mobile banking has been reduced from 30 to 20 dinars for transactions of up to 300,000, while the price of this service at the branch has been increased from 0.5 percent of the amount paid to the bank. 0.8 percent. The bank continues. it does not charge for non-monetary transfer of funds within the bank ”, they explain in a bank, where the new rates will be applied as of January 18.
The account maintenance service with the lowest fee for now ranges from 95 dinars to 200 dinars, depending on the bank.
Banks are independent in setting rates.
The National Bank of Serbia states that they have no information that financial institutions intend to raise the prices of their fees, but also recalls that banks are not obliged to present changes in the fees of the services they provide in advance. According to the Payment Services Law, they only have to inform their customers in writing, at least two months in advance.
“The user of the payment service is not obliged to accept the increase in fees for the payment services provided by the bank and can terminate the framework agreement with the bank without paying fees and other costs,” explains the NBS, adding that each bank is independent to decide the price of its services. Since there are currently 26 banks operating in Serbia, it is in everyone’s interest to have a competitive offering. “
What commissions do we pay to banks?
Since March last year, all banks are obliged to send the price of 14 commissions charged to customers to the National Bank of Serbia, for the purpose of making a public announcement on the central bank’s website.
Thus, for example, monthly account maintenance costs clients 150 to 350 dinars, for basic account packages, although some banks do not charge this fee.
Check writing is charged up to 20 dinars per check, and the least allowed is still convincingly the most expensive item charged by bankers in Serbia, ranging from 30 to 40 percent.
Banks also have special fees for receiving money from abroad in a foreign currency account in Serbia, then for mobile and electronic banking services, debit and credit cards, but also cash withdrawals. There are also fees for issuing multiple certificates, for changing the credit limit, and for sending reminders if you are late in paying the loan installment …
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