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The decision by Bank SEB next year to offer customers free cash withdrawals at ATMs around the world, a spokeswoman for Revolut's finished tachometer, calls the game a word. A person from the Lithuanian commercial banks is slowly refusing to pay a tax on cars, but the fact that the conversion of the currency must be continued is false. However, the bank representatives themselves deny that the customers are really aware of the additional charges.
New for not everyone
"From now on, customers will be able to use their free cash limit by taking money from any ATM in the world, and this change will come into effect on February 8," said Vaidas Žagonis, Service Manager. Bank retail banking, in a press release issued by SEB.
The bank representatives say that the amount of money that can be taken abroad at no extra cost will depend on the customer 's plan. In other words, this amount can range from 100 to 1000 euros per month. However, SEB has warned that some foreign banks may, in some cases, apply their additional charges for transactions made at their automated teller machines.
True, the latest SEB solution is not a complete innovation in the Lithuanian banking market.
Erika Brazaitytė, Communication Specialist of Šiaulių Bankas, confirmed by tv3.lt that customers of this bank can release withdrawals to all ATMs of Lithuania and the world if they have any of the programs banking services – Traditional, Maximum or Youth – and this with the latter. plan badociated with a payment card.
"The maximum amount of free redemption varies depending on the plan chosen," noted E. Brazaitytė.
Citadele Banka also offers free cash withdrawals worldwide for some cardholders. According to Rasos Petruškevičiūtė, head of the Bank's Corporate Communications Department, the maximum amount of free cash withdrawals in the world can reach 5,000 euros.
Well, Giedrė Bielskytė, Head of Communication of Luminor, said that in the near future, SEB would not go to the end.
"From now on, our customers can release a certain amount of money on all Luminor ATMs in the Baltic States, the amount depends on the basket of services we choose, we constantly appreciate the changing needs of our customers and look for solutions to simplify services.
So we are discussing various solutions, as well as free refinancing in other foreign countries, but we do not foresee any specific solutions in the near future, "said Bielskytė.
Swedbank spokeswoman, Saulius Abraškevičius, also badured that the bank would make a decision on how to make a free cash withdrawal worldwide, by badessing customer behavior and needs. .
Blame the defect
Fintech company "Revolut" introduces free cash withdrawals from vending machines around the world as one of its strengths. According to Andrius Bičeikos, head of the company's commercial development, banks deny another important fact when announcing the latter service.
"The consumer must also say that the withdrawal of free money does not mean a free exchange rate.If a bank customer goes to the euro area, it means that his conditions are equal to ours." However, for example, when he goes to a country outside the euro zone, a person will only remove a cash tax and the exchange money will always be lost.
Thus, the announcements of banks on free repatriation abroad are the words of the game. Look here, you do not need to pay withdrawals at ATMs, do not say that if you withdraw from the Money in the currency of your account, the currency conversion charges will apply. Well, Revolut does not apply this tax, "explained Bičeika.
According to a spokesman for Revolut, different banks apply different conversion margins, but they often reach up to 5%. Revolut customers, with a simple service plan, are currently free worldwide at a cost of € 200 per month.
It is true that the representatives of SEB banka themselves claim that, if the transaction is carried out outside the currency of the account, exchange fees will be applied, they do not really hide from the customers and inform them by personal letter.
The foreign exchange commission of the bank Ieva Dauguvietytė-Daskevičienė has not changed. The foreign exchange fees of SEB Bank have not changed. They reach 2.65% in SEB banka.
At present, the controlling institution, the Bank of Lithuania, supervises banks operating in Lithuania and branches of foreign banks. The three largest banks registered in Lithuania are supervised directly by the European Central Bank and by experts of the Bank of Lithuania.
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