mBank, one of Poland’s prominent banking institutions, has recently faced scrutiny over its decision to exempt many Ukrainian account holders from a fee increase that affects other customers. The bank has defended its stance, citing Polish and EU regulations that protect refugees from such charges.
The controversy emerged after mBank announced a series of new fees, particularly for cash withdrawals, set to take effect from April. In a statement to Gazeta Wyborcza, the bank explained that the fee adjustments primarily target cash transactions, reflecting its emphasis on cashless transactions and self-service options.
Highlighting the necessity of these fee adjustments, mBank pointed to the rising costs of goods and services over the past two years, which have impacted the bank’s operational expenses.
The announcement drew criticism from mBank customers, particularly concerning the exemption of Ukrainian refugees from the fee increases. Many Ukrainians had opened accounts with mBank after seeking refuge in Poland following Russia’s invasion in February 2022.
Responding to allegations of discrimination, mBank clarified that its decision was guided by Polish and EU regulations governing the provision of accounts to Ukrainian refugees. Under Polish law, Ukrainian refugees are granted legal residency in Poland until at least June 30, 2024, entitling them to open basic payment accounts free of charge.
Emilia Kasperczak, a spokeswoman for mBank, emphasized that these basic payment accounts are mandated to be fee-free under Polish legislation. She also referenced a directive issued by Poland’s Financial Supervision Authority (KNF) in March 2022, urging banks to offer Ukrainian refugees accounts with complete exemption from fees.
mBank’s fee adjustments are not isolated incidents in the Polish banking sector. Credit Agricole implemented fee increases in January, while BNP Paribas is scheduled to follow suit next month, according to reports from news website Wirtualna Polska.
The debate surrounding fee adjustments and exemptions underscores the complex intersection of financial regulations, humanitarian considerations, and customer expectations within the banking industry. As mBank and other institutions navigate these challenges, they must balance financial sustainability with societal obligations and regulatory compliance.
