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Banks Start Commission for Coin Deposits

6 February 2007

Slovenian banks started cutting commission for coin deposits after they came under fire from companies which mainly operate with coins for the exorbitant fees.

After a thorough analysis, Slovenian largest bank NLB decided to reduce the fee from 4% to 2%. The bank started charging lower fees at the beginning of this week, the bank said on Tuesday.

Abanka reduced the commission fee from 4% to 1.9% already on 1 February. On the contrary, Banka Celje will raise the fee on Monday - from 0.27% to 1.86%. Gorenjska banka has still not decided to decrease the commission fee, which currently stands at 4%.

Most banks raised the fees from 0.25% to 4% prior to the 1 January euro adoption, but the impact was not as big when the tolar was still in circulation.

The Chamber of Commerce and Industry (GZS) warned at the end of January that the fees mainly affected small companies that mostly operate with coins, such as confectioneries, taxis and vending machine operators.

Source: Slovene press agency