Transaction bundle model at local banks

Local banks are now adopting a European model in their charges, with special packages which include a certain number of free transactions every month via internet, mobile banking or ATM, and with a parallel charge to the bank account.

Transaction bundles are promoted as an alternative to the increased cost to the customer of fragmented fees for electronic transactions, benefiting those who regularly pay or transfer money monthly through electronic channels. They cost from 2 to 10 euros per month and come with privileges for depositors depending on the package and the bank they choose.

Charges in banking transactions have been at the center of criticism lately, with an emphasis on the transfer of money from one bank to another via credit transfer – i.e. by direct debit. The average cost today is close to €3 if the transaction is not carried out immediately, and €4-5 if the transaction is executed right away.

The packages mark the shift of Greek banks to a banking model based on charging the bank account every month in order for the customer to have access to free services and transactions. This is a model that has been in effect for many years at European banks.