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ProCredit Bank incentivises international payments by reducing the prices for foreign currency transfers


To support and stimulate the international business activities of its clients, ProCredit has reduced the prices of its foreign currency transfers; the bank’s fees are now the lowest on the market. All incoming foreign currency transfers to accounts at ProCredit Bank are free of charge. For one-day transfers of foreign currency to another bank through the online ProB@nking platform, the bank charges a flat fee of EUR 10, regardless of the amount of the transfer.

This is good news in a market where most banks calculate their fees for outgoing foreign currency transfers as a percentage of the total amount. Meanwhile, the price for international transfers through the system for express payments between clients of ProCredit banks in the region, - ProPay, has been already reduced from EUR 8 down to EUR 2.50. With these new favourable conditions, the bank aims to stimulate the business of its clients in the region. The ProPay system can be used by companies in Albania, Bosnia and Herzegovina, Bulgaria, Germany, Georgia, Kosovo, Macedonia, Romania, Serbia, Ukraine and Moldova.

At the beginning of March, ProCredit Bank also reduced the additional fees for transfers in euros with expenses charged to the originator. Such transfers to Germany will go through ProCredit Bank at a net price of EUR 10 with no additional fees; for transfers to other countries, the total price is now EUR 20.

“Foreign currency payments rose by 20% at ProCredit Bank last year and we assume that the international business of our clients will increase. In today’s world, businesses have to operate internationally and we, as the partner bank for our SME clients, want to facilitate this development by offering fair and transparent prices for money transfers,” explains Reni Peycheva, Executive Director and Member of the Management Board.

This decision complements ProCredit’s modern, forward-looking strategy. The bank has invested heavily in developing cashless services for its clients at its modern 24/7 Zones. Indeed, the banking sector as a whole is working to modernise and develop remote banking services, making them more suitable, safe and accessible via all kinds of devices. Whether clients want to pay in cash, exchange currency or pay bills, everything is now possible with the stroke of a few keys. However, some loan or cash operations still require clients to visit their banks, where nothing has changed – working hours are from 9:00 to 17:00, there are only one or two desks, you have to fill out forms, wait in queues, etc. Despite the new technologies available, the approach to providing banking services in Bulgaria seems to be frozen in time.

However, traditions are not what they used to be. The way forward to modern banking services will require the country to adopt European best practices and change the approach that has been in place for decades.

The reduction currency transfers at ProCredit Bank are just an additional step in the process of developing its electronic banking services. During the last few years, the bank has made large investments in establishing a modern new service model, and so far ProCredit is the only bank in the market that is doing so. Aside from offering one of the most convenient systems for Internet banking, last year ProCredit Bank equipped its entire branch network with 24/7 self-service areas.

Thanks to the automation of so many processes that used to be performed by staff, the bank’s employees can now devote their time entirely to client service, providing clients with personalised advice on their finances and projects. Routine daily transactions that do not require consultation with an employee are now handled by the machines. The change has evidently been well received, because during the first month of this year, nearly 90% of the bank’s clients did their banking electronically – in the bank’s 24/7 Zones or through Internet banking.

ProCredit’s 24/7 Zones are the only ones that offer complete and modern banking services. They have machines for depositing and withdrawing cash, both in Bulgarian leva and euros. Here you can print out statements in just two minutes, without a cashier. Large amounts of money can also be deposited quickly and easily in a matter of minutes using deposit safes at any time, including outside the bank’s working hours. In addition, the bank recently introduced a new machine for depositing large amounts, which does not require clients to sort the banknotes beforehand. 

The 24/7 Zones can be used to make personal payments and transfers, but they are even more popular for business transactions. However, private clients and business clients alike can make routine banking transactions, such as depositing company turnover, printing statements or making withdrawals from an account, at their convenience. ProCredit is the first bank on the market to adapt its branch network to the 24-hour service model used in Western Europe.

A bank card is required to enter the 24/7 Zones to ensure the comfort and safety of our customers who visit the self-service areas.