In 2021, bank clients in Serbia will have to set aside more money for certain services, such as current account fees, SMS notifications, ATM use and cash withdrawal.
According to initial information, these banking services, used by virtually everyone with a bank account, will cost between 15 to 60 per cent more next year.
There are 26 banks, 14 payment institutions and two e-money institutions in Serbia. One bank has already started sending its clients the framework agreements with the new tariffs that will be valid from March 1, 2021.
Bank account maintenance fee will cost 190 dinars as of March 2021, instead of the previous 160, reads the document that the clients of a certain bank have received. SMS notifications will cost 100 dinars per month, instead of 70 dinars, and the minimum fee for cash payment using a card at an ATM or a counter of another bank instead of 150 will be 200 dinars.
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Therefore, in one year, bank clients will have to pay 2,280 dinars just for maintaining their account instead of the previous 1,920 dinars, while SMS notifications will cost 1,200 dinars instead of the current 840 dinars in the next 12 months.
The card replacement service will increase in price by almost 70% in case of theft or loss, so it will cost 500 dinars instead of 300, and a fee of 40 dinars has been introduced for checking your bank balance on an ATM.
Other banks have also announced changes in fees and correction of some service prices. Some say that prices for some services have been reduced, for others slightly increased, while for the most services the price has remained unchanged.
“For individuals, the fee for instant payments via mobile banking has been reduced from 30 to 20 dinars for transactions up to 300,000 dinars, while the price of this service at the branch has been increased from 0.5% of the amount paid to 0.8%. The bank does not charge for the transfer of non-cash funds within the same bank”, one bank says.
For now, the fee for bank account maintenance service rate ranges from 95 dinars to 200 dinars a month, depending on the bank.
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