The burden on small businesses managing accounts at Erste will increase in two steps this summer. First they have to pay more for some services at the rate of inflation, and then in the middle of the summer they have to prepare for another bigger increase due to the transaction tax.
The early summer increases only add a small extra burden to businesses, as they are 1.7 percent, the equivalent of inflation. However, it may be more painful for some account packages to increase their monthly fee by one thousand forints from July, but you’ll also have to pay hundreds of forints for your credit card and transfer. We estimate that it will cost companies between $ 1,500 and $ 2,000 a month to maintain their account packages.
Fee increases from May 15, June 1 and July 1
The Bank has announced in its May 1 list of Bank Card Services Terms and Conditions that after the previously announced May 15 fee increase, it will again increase the annual fees for business bank cards, but the cash withdrawal fees will no longer change as of July 1. Bank account management fees will also increase from July 1, following previously announced increases of May 15 and June 1. Thus, from May 15, the transfer fees will increase, from June 1, the monthly fee for account packages and the monthly fee for SMS services, and from July 1, the monthly fee for account management and the fee for electronic orders.
Reasons for the changes
“The Bank shall increase the individual fees and commissions by the value of the consumer price index determined by the HCSO for 2013 (1.7%) subject to the rules of rounding on the following dates:
- As of May 15, 2014, the Bank will increase fees and commissions related to bank account management and bank cards.
- From 1 June 2014, the Bank will increase the monthly fee for account management, account packages and the monthly fee for SMS services.
Don’t like the price increases? Find the best account package for your company with us.