Fico Calls on Banks to Cancel Fees for Depositing Coins
Arizona Coin Collector
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Fico Calls on Banks to Cancel Fees for Depositing Coins
Bratislava, January 29 (TASR) - If commercial banks
don't propose a solution to the current situation in
which they charge fees for depositing coins in
accounts, the Government will take action, Prime
Minister Robert Fico said on Thursday.
"The only proposal we'll accept is that there won't
be any fees, otherwise we'll take action against
such banks," said the premier following his meeting
with central bank (NBS) governor Ivan Sramko.
According to Fico, Slovak banks are in good condition,
as they achieved record profits of ?600 million in
2008. "I expect that the banks will do this themselves
and that we won't have to use tools that the state
has at its disposal," he said.
The issue of high fees for depositing coins in banks
was raised by Finance Ministry State Secretary Peter
Kazimir at Wednesday's session of the Prices Council.
He warned banks that if they don't change their
pricing policy, the ministry will consider regulating
charges for handling coins.
Traders in Slovakia have pointed out that the number
of small coins in circulation since the country
adopted the euro on January 1 often makes it
expensive for them to deposit their takings at
the bank.
"Finance Minister Jan Pociatek has sent a letter to
(outgoing) Slovak Banking Association (SBA) chair
Regina Ovesny-Straka appealing to the banking sector
to make corrections vis-a-vis this issue. We also
noted that we're considering regulating this
service," said Kazimir.
Wednesday also saw the new chairman of the SBA Igor
Vida assuming office. Fico expects him to resolve
the matter. On the same day, SBA recommended that
its members should lower the charges on a temporary
basis.
"Handling cash involves relatively high costs, so
charges are justified. The current situation is
special in that due to the transition to the euro,
there are far more 1- and 2-cent coins in
circulation than was formerly the case with 50-heller
coins. The Association ... is ready to propose a
solution that would eliminate the problem," said
SBA executive director Ladislav Uncovsky.
.