The below Press Release was issued in the Czech Republic as a response to a Czech YouTuber who released several videos spreading false information about Euronet ATM services in the country and beyond. In the following Press Release we dissect and explain the truth behind each untrue assertion.
Press Release
Prague, 5th March 2024
Euronet strongly refutes the false claims made on Janek Rubeš`s channel. We ask the media not to disseminate information without verifying the facts. Euronet is currently assessing its options and reserves its position to take any necessary legal action to protect its rights and to help prevent the dissemination or promotion of false claims about the company’s activities.
Below, we provide a description of the false statements that have been damaging to Euronet.
False: Euronet charges clients a fee for balance inquiries.
True: Euronet does not charge clients any fee for balance inquiries. Any fees that are charged are levied by the customer’s bank , and in most countries, banks do not charge any fees for this service. Euronet does not receive any share of the fee charged by the customer’s bank. Euronet’s relationship with banks is mediated only through card schemes on whose terms Euronet is fully financially dependent and whose regulations Euronet fully complies with.
False: Euronet charges a fee for balance inquiries even if the client cancels the operation.
True: As mentioned above, Euronet does not charge clients any fee for balance inquiries. Fees are invariably levied by the customer’s bank, and in most countries, banks do not charge any fees for this service. If there is a rather unusual situation where a client selects the cash and balance service, confirms it, and then decides not to proceed with cash withdrawal, in this rare case, the bank may charge the client a fee for balance inquiry only. For this case Euronet has modified the screen flow to provide the balance information earlier in the process.
False: Euronet can impose balance inquiry fees to the client.
True: Euronet has no influence over the setting of any bank fees. The amount of fees is determined by the client’s bank; hence complaints must be addressed to the bank that issued the payment card.
What service is involved? Clarification:
This relates to the combined cash & balance service launched by Euronet to increase customer convenience by allowing them to know their account balance at the same time as making a withdrawal. In many cases Customers wishing to withdraw cash were also selecting the balance service as a separate transaction and the combined service offer additional convenience. The Customers still have the option to choose to withdraw cash without checking the balance.
Euronet does not charge any fee for this service. Balance enquiry fees are always set and charged to the customer by the customer’s bank. In most countries, banks do not charge any fees for this service. Only banks can influence the level of these fees and banks do not share these fees with third parties. Our relationship with the banks is only mediated through the card schemes, on whose terms we are fully dependent and with whose regulations we are fully compliant.
Operating an ATM and enabling availability to cash 24X7, requires strict operating procedures and adherence to security standards and continuous investments. All charges levied for ATM operations, and in particular relating to balance inquiry, are set by the international card schemes and apply between members of those schemes. Such charges are not related in anyway to fees levied by banks on their on own cardholders in their respective contractual relationships.
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Find the press release in the Czech language here.
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About Euronet in CZ
Euronet Services spol. s.r.o. is a part of Euronet Worldwide, the global leader in processing secure electronic financial transactions and owner of the largest ATM network in Europe. The company has been operating in the Czech Republic since 1997. For more information, visit https://www.euronetworldwide.com.
Media Contact
| Nicole Baronová | Tomáš Vrána |
| nicole.baronova@abbba.cz | tomas.vrana@abbba.cz |
| +420 776 204 565 | +420 604 134 037 |
