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Commission-Free Exchange of Tolars at Banks Ends1 March 2007
Banks, postal offices and savings banks will be able to charge commission for changing tolars into euros as of Friday as 1 March marks the last day of two-month period in which they had to provide the service free of charge. Meanwhile the central bank will continue to convert tolar cash to euros for free. While tolar coins will be accepted until 31 December 2016, there is no deadline for the exchange of banknotes. By next week Banka Slovenije will select one or more commercial banks to continue to provide the service on its behalf for free. Pending its decision, most major banks have not yet decided on the amount of the commission they want to charge. According to data provided by the central bank, commercial banks, postal offices and savings banks have so far collected some 93% of the tolar bank notes in circulation. Coins have been trickling in more slowly - so far 33% of the coins in circulation at the end of 2006 have been returned. Following the 1 January euro changeover, all postal offices have fully switched to euro stamps. Tolar stamps can be exchanged for the ones in cents in nine major postal offices across the country until the end of the year. Source: Slovene press agency
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