Erste Bank to make customers pay transaction fees from 2025

Beginning February 3, 2025, Erste Bank will transfer the burden of transaction fees to its clients, as per the notice sent to customers.

Author

Andrew Davison
December 01, 2024

This move follows similar announcements from other financial institutions, including MagNet Bank, Polgári Bank, and Wise, regarding the increased financial transaction fee.

Background on Transaction Fees

The latest announcement aligns Erste Bank with various other banks that have recently decided to raise residential fee structures in response to the transaction tax hike imposed by the government starting August 1 of this year. Until the end of 2024, banks were prohibited from burdening customers with these increased fees.

The new transaction fees will cover common financial operations, such as bank transfers, direct debits, and cash withdrawals. Unicredit Bank, for instance, will introduce an additional fee for these services starting from February 1, 2025, due to the elevated transaction tax.

For further details, visit Telex.