Brand new accounts will bring additional millions in rewards to clients

Press release

3/31/2011
8:00 AM

The new pricing policy has brought almost CZK 35 million to KB’s clients in reward for their active use of banking services. In connection with the development of the unique MojeOdměny [My Rewards] concept, KB is now changing its offering of bank accounts. Two accounts, MůjÚčet [My Account] for individuals and Profi účet [Profi Account] for companies and small businesses, will replace the most widespread packages in KB’s offering from 1 April 2011.

MůjÚčet is a package of the basic banking services, which replaces the accounts that are currently most frequently offered in KB’s range on offer. MůjÚčet brings a brand new logic to the Czech market: for an attractive price, it offers all basic banking services; further, clients will receive rewards in the form of a refund of up to 50% of the monthly fee for package keeping.

For CZK 68 per month, MůjÚčet provides KB’s clients with a current account in Czech crowns and with electronic account statements, and all incoming transactions, an embossed international payment card with travel insurance, telephone, internet and mobile banking and withdrawals from KB’s ATMs free of charge provided that the client uses the card for payments at retailers.

“For specific groups of clients, KB has prepared attractive schemes, which are adjusted to their requirements and capabilities. Such schemes have been designed for students, graduates, families, and senior citizens,” said Monika Truchliková, Deputy Executive Director for Marketing and Business Development at Komerční banka.

For example, under the Family scheme the partners can connect their accounts and so jointly receive rewards of up to 50% of the fees for the keeping of both accounts. The Senior scheme makes it possible for clients aged over 60 to obtain rewards under much simpler conditions.

Profi účet is now a single package of services, which is intended to replace the existing account packages for companies and small businesses. As with the new account for individuals, firms and businesses will also receive basic banking services for an affordable price and can buy additional services as their business develops and grows.

In the basic option, Profi účet offers ten free incoming transactions or outgoing transactions executed via the MojeBanka internet banking channel. As the business grows and needs to make more payments, the client will simply buy a Transaction Package and increase the number of free transactions by 10, 25, 50, 75 or 100.

Under the MojeOdměny scheme, every month KB will pay start-up businesses a reward in the form of a refund of a part of the fee for Profi účet keeping in the previous month. In the first two years from the opening of a Profi účet, KB will credit CZK 70 to the firm’s account, and the cost of a Profi účet will therefore only be CZK 99 per month in the start-up phase of the running of the business. Moreover, this advantage will be preserved for the following two years provided that at least CZK 50,000 is credited to the account every month.

KB has prepared specific schemes that can cut the cost of banking services by way of rewards also for small businesses. For example, thanks to the Profi scheme every business owner or statutory representative of a company can obtain a personal MůjÚčet package under bargain conditions.

“On 1 April, the new accounts will become the basis of KB’s offer for the individuals and small business segments. Thanks to the MojeOdměny concept, banking services can now become even more advantageous for KB’s clients,” added Monika Truchliková.

Starting this year, under the MojeOdměny concept every KB client can influence, by their behaviour, how much they pay the bank in fees for using banking services. MojeOdměny was launched on the full scale in January by refunds of the fees for cash withdrawal from KB’s ATMs when clients actively used their card for payments at retailers. Further benefits have been introduced by the Lady credit card, which also rewards KB’s clients: Komerční banka contributes 1% of transactions executed using the card to the card holders’ saving accounts with Penzijní fond Komerční banky.

Komerční banka is one of the best run universal banks in Central Europe. It provides comprehensive services to clients in the areas of retail, corporate, and investment banking. The Komerční banka Group’s 8,619 employees serve 2.5 million clients, who can use an extensive network of 395 points of sale throughout the country. Komerční banka currently operates 677 ATMs and more than one million of its clients use one of direct banking channels. Komerční banka is part of the Société Générale Group.

Societe Generale is one of the largest European financial services groups. Based on a diversified universal banking model, the Group combines financial solidity with a strategy of sustainable growth, and aims to be the reference for relationship banking, recognised on its markets, close to clients, chosen for the quality and commitment of its teams.

Its 157,000 employees* based in 85 countries accompany more than 33 million clients throughout the world on a daily basis. Societe Generale teams offer advice and services to individual, corporate and institutional customers in three core businesses:

  • Retail banking in France with the Societe Generale branch network, Credit du Nord and Boursorama
  • International retail banking, with a presence in Central and Eastern Europe and Russia, in the Mediterranean basin, in Sub-Saharan Africa, in Asia and in the French Overseas Territories
  • Corporate and investment banking with a global expertise in investment banking, financing and global markets.

Societe Generale is also a significant player in specialised financing and insurance, private banking, asset management and securities services.

Societe Generale is included in the international socially-responsible investment indices: FTSE4good and ASPI.

* including employees of Societe Marseillaise de Credit acquired in September 2010 by Credit du Nord