When withdrawing small amounts, the transaction fee can reach up to several dozen percent
Euronet's new fees were brought to our attention by Cashless readers. - I experienced a peculiar treatment of a Curve card in a Euronet machine. After withdrawing 50 zł, my account was charged with 63 zł - one reader said. Another reader complained about similar fees for Revolut card transactions.
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I asked Euronet’s Polish press office to explain the extra fees. They confirmed that cash withdrawals for certain cards may be charged with additional fees. - The customer is informed of this on the ATM screen each time and has to accept the charges before proceeding with the transaction. They are also indicated on the transaction receipt - the company wrote in an email.
Unfortunately, Euronet wasn't able to immediately indicate which users can expect additional fees and in which situations. However, I managed to find out unofficially that the fees were charged for transactions made using cards issued outside Poland. It so happens that both Curve and Revolut are UK-based fintech companies.
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What does Revolut, a company with way over 100 thousand users in Poland, has to say to that? - We're surprised by Euronet's decision to introduce the surcharge. This situation is very disadvantageous for our customers. We are trying to clarify it. I would like to point out that other ATM operators do not charge such fees - said Karol Sadaj, who is in charge of Revolut's development in Poland, in a conversation with Cashless.
According to the law implementing the PSD II directive on the Polish market, surcharges are not allowed for payments using Mastercard and Visa cards issued to individual customers. This, however, does not apply to cash transactions. According to some unofficial conversations taking place during the European Financial Congress, which I have the pleasure of attending, Euronet's actions may be the result of lobbying by companies issuing cards in Poland, which want to defend against the British fintechs’ expansion.
