Eurobank cuts commissions

Eurobank is proceeding with a reduction in charges or even free transactions that serve the daily needs of its customers.

The changes will take effect from August 2 so that new and existing customers can access daily commission packages that offer more transactions at a lower cost to the user.

The improvements concern all four “advantage” packages provided by Eurobank (Blue, Silver, Gold and Platinum) for transactions such as paying monthly bills via standing order, renewing a debit card, transferring money up to 500 euros per day from Eurobank through the Iris Payments service etc.

For example, for the simplest and most economical My Blue Advantage package with a cost of just 60 cents per month – which is offered completely free of charge to customers who receive their salary or pension from Eurobank and have chosen it as their main bank – users will be able to make unlimited standing orders for bills for free, up from just one before the upgrade. Other banks are expected to follow Eurobank’s example.

This move is a response to pressure exercised by National Economy and Finance Minister Kostis Hatzidakis on the domestic credit sector to reduce their charges for banking services.