Czech banks quietly reintroduce and increase fees despite years of declines
After years of criticism for charging fees unknown in Western countries — and after a decade of scaling them back — Czech banks are now quietly reintroducing or increasing service fees.
“Following years of reducing or canceling fees, banks are discreetly bringing some back. Even if many fees are small, clients increasingly notice new charges on their bank statements,” said Jiří Ušjak from the financial consulting company 4fin.
For example, Moneta Money Bank introduced a new fee in April: customers must now pay 0.1% of deposited cash (minimum 50 CZK) when depositing money into their own account at a branch. For a deposit of 200,000 CZK, the fee would be 200 CZK. Moneta argues that most clients now use deposit ATMs free of charge.
Rising Costs for Other Banking Services
Not only cash deposits, but other services at branches are becoming more expensive — such as placing payment orders or requesting paper statements. Experts say banks are pushing clients toward mobile and online banking, helping them cut operational costs and reduce staff numbers.
ATM cash withdrawals from other banks are also getting pricier. Starting May, Komerční banka (KB) will raise its withdrawal fee at external ATMs by 10 CZK to 49 CZK. Even checking an account balance at a foreign ATM will now cost 49 CZK, instead of the previous 25 CZK.
KB pointed out that customers can still use about 2,000 ATMs from their shared network (KB, Moneta, Air Bank, UniCredit) free of charge.
Maintaining a current account may also come with fees, but banks typically offer benefits in return, such as better savings account rates.
Unexpected Paper Fees
Despite promoting sustainability and digital transformation, some banks still require unnecessary paperwork. For instance, mBank sends a physical confirmation of loan or credit card repayment by mail even if customers prefer only an email. This service costs 250 CZK.
Inquiries on why it cannot be fully electronic went unanswered — the bank stated simply that “this is how it is currently set in the fee schedule.”
Clients with Building Savings Accounts Also Face Higher Fees
Customers with building savings accounts are not spared either. For example, ČSOB Stavební spořitelna charges 360 CZK annually for account maintenance — including for children’s contracts. To avoid the fee, clients must have at least 15,000 CZK deposited monthly into their ČSOB current account and make five card payments monthly.
From May, the building society is also raising its loan account management fee from 360 CZK to 399 CZK per year.
Banks’ Profits Rise Thanks to Investments
Czech banks posted a combined net profit increase of 17.7 billion CZK in 2024, reaching 121.7 billion CZK. Fee and commission income rose by 8.9 billion CZK to 65.3 billion CZK.
“The increase in fee income is primarily due to the growth of assets under management as clients invest more,”said ČSOB spokeswoman Monika Hořínková. Analysts confirm that investment into mutual funds, pension plans, and other financial products is growing.
At the same time, banks are saving costs through digitalization, including reducing employee numbers. “Banks compensate lower loan margins by introducing or raising fees,” Jiří Ušjak explained.
Trend of Lowering Basic Service Fees Continues
Despite rising fees elsewhere, the overall trend toward reducing basic service charges still holds. For instance, mBankwill scrap its 1 CZK fee for instant payments starting in July.
Roman Lux from Deloitte notes that banks’ fee revenue increasingly comes from providing complex services, such as investment advice or housing loans.
“The fee structure today better reflects the added value banks and advisors offer in managing client assets,” he concluded.
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