And yet, there are transactions in the banks that are done for free, as long as the customer uses the electronic banking or the ATM and not the banking branch. Nowadays it is difficult for the customer to imagine that he will not pay a charge, even a small one, if he proceeds with an ordinary banking transaction.
Everything has a cost and many times the issue has been at the center of controversy over the amount of bank charges. Billing is also a way for banks to take customers out of their bank branches and push them into digital transactions.
“F” gathered some interesting data from Bank of Cyprus and Elliniki, which have the largest market share, in terms of services offered free of charge. In the list of debits of Bank of Cyprus through the 1bank service, for natural persons, which is valid from February 2, 2021, it is stated that if the check payment is revoked / canceled, there is no charge, as well as for payment of utility bills or taxes. Also free of charge is the transfer to the same customer account and the transfer to another customer account. Free of charge is the provision of a copy of account statement, the printing of temporary account statement, copies of warrants, checks, etc., the issuance of a certificate of interest / account balances. For businesses – customers of Bank of Cyprus, the free services offered through 1bank are the instruction for withdrawal / cancellation of a check payment, the transfer to the same customer's account, the transfer to another customer's account, the provision of a copy of account statement, the standing bank order , the execution of a standing bank order, non-automated payroll, printing of temporary account statement, copies of warrants, checks, issuance of interest / balance sheet certificates and payment of utility or tax bills.
Based on the list of Elliniki, which is valid from February 2, the free services through the web banking / mobile app service are: Remittance in euros from a bank located in a country within the SEPA zone for an amount less than or equal to € 15,000. Payroll within the bank and countries within the SEPA zone free of charge through the web banking service. Free internal transfers of same currency accounts of the same customer and between same currency accounts of different customers. The opening of an order and the cancellation of an existing order are free of charge. Cash deposit via ATM, check deposit, as well as cash withdrawal are free. Free of charge is from the ATM and the display and printing of the last 10 transactions, as well as through the web banking service. The printing of an IBAN certificate via ATM and web banking is free of charge.