Erste Bank stops issuing cheques

Zagreb, 5 March 2015 – Due to a continuing drop in the number of issued blank cheques in recent years, Erste&Steiermärkische Bank d.d. (Erste Bank) stopped issuing them on 1 March. This used to be the most popular means of cashless payment, but less and less so with the rise of electronic payment systems. Hence, Erste Bank issued approximately 37,000 blank cheques in 2010, while around 3,000 were issued during 2014. It should be noted that the cheques issued to date will be honoured up until 31 December 2016, whereupon they will cease to be valid.

Aiming to offer its current account customers a more modern and safer payment in instalments at points of sale, as well as ATM cash withdrawals, Erste Bank introduced the Maestro Plus service in 2010. This service allows for the payment in instalments or deferment of payment at points of sale, free of interest and fees. Furthermore, cash withdrawals from 627 Erste Bank ATMs in Croatia and monthly repayment of withdrawn cash are possible through this service. Customers are free to select the number of instalments for repaying the cash they had withdrawn from an ATM (3, 6, 9 or 12). Depending on the selected number of months, a one-off cash advance fee ranging between 1.6% and 5.4% is charged to the client.

Since its introduction, 77,400 customers have concluded the agreement on this service with the bank by 31 December 2014. The total turnover during 2014 was HRK 323.8 million - by 7.54% more than in 2013. The service is more frequently used at ATMs, whereas last year a significant rise was recorded in the number of transactions at points of sale – by as much as 22.7%. In addition to overdrafts, the bank also allows for additional limits to Maestro Plus service customer, for the same periods of time, but not exceeding 12 months. The agreement for the service can be concluded at any branch of Erste Bank.