PKO BP raises fees. New rates from August 1
Banks clearly want to discourage people from paying cash. As of August 1, new fees are coming into effect at PKO BP. Will this move change the habits of Poles?
Any changes to ATM fees are a topic that arouses considerable emotion among customers. The announcement alone that the popular bank PKO Bank Polski is introducing a fee of PLN 10 for cash withdrawals from an ATM caused quite a stir. There have been many negative comments and suggestions on the forums that banks should focus more on the quality of their services than on raising prices.
Banks, on the other hand, explain the increase in the costs of maintaining and servicing ATMs. It is hard to disagree with this. The introduction of fees can also be seen as part of a larger strategy, which is to encourage customers to use alternative, more modern forms of payment. We have been observing this trend for a long time.
Which banks provide additional fees?
PKO Bank Polski, one of the largest banks in Poland, announced significant changes to its tariff of commissions and fees for customers in June. The new rates will come into force on August 1, 2024. Open cash deposits in the bank’s cash deposit machines will become more expensive. The prices of maintaining corporate accounts will also increase, and there will be higher fees for cash transactions. For customers who do not like the new conditions, the bank has provided a 14-day period to terminate the agreement from the date of notification of the changes. If no notice is given, the new tariff will automatically become effective on 1 August 2024.
PKO BP is not the only bank that will introduce changes to its price list.BNP Paribas announced the introduction of fees for withdrawing cash from ATMs Euronet – 5-7 PLN fee. But that’s not all, BNP plans increase the prices for withdrawals at the branch from PLN 10 to PLN 12. We’ll also pay more for a debit card.
Will ATMs become less necessary?
Fees charged when withdrawing funds from an ATM can affect our habits. More and more people can choose modern forms of payment, such as the already ubiquitous BLIK, Apple Pay, Google Pay or traditional payment cards.
See: The risk of card payments. Customers rarely know about it
See: Check this before you go to the ATM. It can be troublesome
