FIT-Payment

A new service introduced on 1 July 2005 means you win out twice over when making international payments within the Erste Bank Group: The new FIT transfers cost less and your money arrives on your account faster.

Erste Bank Group customers in Austria and abroad benefit from FIT, which stands for "Fast Intragroup Transfer".

Requirements for FIT payments

The payer and payee must both be customers of Erste Bank or one of its banking subsidiaries, namely:

- Česká spořitelna
- Slovenská sporitel'ňa
- Erste Bank Hungary
- Erste Bank Croatia
- Erste Bank Serbia
- Banca Comerciala Romana

The transfers are in euro and are made to a euro account at an Erste Bank branch or a banking subsidiary.

Advantages of FIT payments for payers in Austria:

  • No limit to the amount
  • Your payments credited to payees’ accounts on the next banking day
  • Intragroup incoming transfers received on the same banking day

Thanks to FIT international transfers between Erste Bank and its banking subsidiaries have been subject to the following preferential terms since 1 July 2005.

BankOutgoing paymentOutgoing payment
 Transfer chargesValue date
Erste Bank25 % reduction on customer rate*
New rates:- < EUR 5,500 charge EUR 6.90
>EUR 5,500 charge 0.15% electronic transfer minus EUR 1.10
Trade date + 1 day
 Incoming paymentIncoming payment
 Transfer chargesValue date
Erste Bank25 % reduction on customer rate*
New rates:- < EUR 5,500 charge EUR 6.90
> EUR 5,500 charge 0.15%
Trade date

* 25% reduction on all other international transfers.

Processing of the new FIT payments is fully automated. The payee data immediately identify the international transfers as FIT payments.

Example:
Transfer of EUR 100,000 from an Erste Bank customer account in Vienna to an account with Erste Bank Croatia: A transfer like this used to cost the customer in Vienna EUR 200, but since 1 July 2005 the charge has only been EUR 150.