According to a survey by the Chamber of Labor (AK), seven of the nine financial institutions surveyed have increased rates for a wide range of services. While self-service devices are very common, banking services are becoming more expensive.
The Erste Bank shot into the air: this year it increased the management fee for loans for new customers from the previous EUR 4.05 to EUR 35, or by 764 percent. According to the AK’s analysis, the institutes also made significant gains in other areas.
Seven of the nine banks surveyed increased individual costs by an average of about five percent. This ranges from two rate categories (easybank) to twelve times (RLB NÖ-Wien) or 13 times (Hypo NÖ) to 25 price increases (Bank Austria, range 2.9 to 33 percent). Only Generali Bank and Santander kept all account fees the same.
Expensive individual services, high current account interest
In general, banking services are becoming more expensive, criticizes the AK. More and more often, cash withdrawals or account statements have to be paid extra, because the overdraft rate (5.9 to 13.5 percent) is too high.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
