OREANDA-NEWS. July 10, 2013. New fees for cash transactions come into force at Swedbank branches. The fees are increased for such transactions, which are currently performed by customers using online banking and ATMs cheaper or without charge.

This pricing change is a consistent step to focus the activities of the bank's branches on financial consultations, promote the use of online banking tools, and balance the fees for transactions physically performed in the bank's branches and other channels.

Anyone who wants to get professional financial advice is welcome at the bank's branches: this is the main objective of the bank's specialists. We are constantly expanding the ATM- and self-service-area network, and are improving online banking functionality for simple everyday transactions. The fees of simple everyday transactions were reviewed only after we were sure that all of them have cheaper and easily accessible electronic alternatives.

Although the share of daily transactions carried out in bank branches is insignificant, these simple operations take up to 30 percent of bank’s specialists’ working time. This creates inconveniences for all customers – both those who come for a serious financial advice, and those who come for simple transactions. Therefore, the bank encourages its customers to carry out daily operations independently by using bank’s electronic tools. These tools are being continuously improved by Swedbank to ensure that customers can perform daily financial operations in a simple and convenient way.

Increase of fees apply only to cash operations in the branches and do not affect the prices of operations in e-channels. These fees remain the same with some of them even being reduced from 1 July. In the internet bank fees for certain international transactions in foreign currency will be reduced. Transactions for business customers carried out via Bank link system become cheaper. This should encourage more companies to develop e-commerce solutions and residents would be offered even greater opportunities of convenient payments via the internet.

Currently Swedbank customers can perform daily financial operations using more than 500 ATMs, 62 self-service zones, internet bank and smart phone application.