OTP, K&H and UniCredit Bank increase their fees

UniCredit Bank has confirmed it will introduce additional transaction fees effective February 1, 2025, specifically for transfers and direct debit payments on its Ikon Plus account package, as reported by biztosdontes.hu.

Author

Andrew Davison
November 27, 2024

This decision comes as a response to an increased transaction tax. However, customers with a Mobil Aktív Plus account will still enjoy unlimited transfers via the mobile application.

Starting next February, a bookkeeping charge of 0.134% will apply to transfers and direct debit payments on the Ikon Plus account, with a maximum fee of HUF 8,079 per transaction. Additionally, while the first four cash withdrawals each month will remain free, all subsequent withdrawals will see a fee increase of 0.3%.

Other Banks Following Suit

A summary from biztosdontes.hu outlines the timeline for transaction fee increases among various banks:

- Raiffeisen Bank: November 21, 2024

- OTP Bank: January 1, 2025

- K&H Bank: January 6, 2025

- CIB Bank: January 17, 2025

- UniCredit Bank: February 1, 2025

Meanwhile, Erste Bank, Gránit Bank, MagNet Bank, and MBH Bank have not yet announced any fee increases.

Industry Insights

Recently, the vice president of OTP Bank compared the introduction of transaction fees to innovative practices seen in foreign banking systems, claiming that international banks can adapt more easily to such changes than domestic institutions can.

For more detailed information, visit Telex.