The biggest Croatian bank, Zagrebačka Banka, has inked a deal with UK-based Paysera, an e-money institution licensed in Europe. The partnership will drive the costs of international money transfers to Croatia
to 1 HRK (0.13 EUR).
In all of the countries where Paysera has partner banks costs for international transfers are the same as for the local ones: to Poland – 1,50 PLN (0,35 EUR), Slovakia – 0,20 EUR, UK – 0,60 GBP (0,80 EUR), Norway – 1 NOK (0,11 EUR), Sweden – 1 SEK (0,10 EUR), Bulgaria – 1 BGN (0,50 EUR), Romania – 3 RON (0,65 EUR), Denmark – 1 DKK (0,13 EUR), Czech Republic 3,5 CZK (0,12 EUR). Transfers are free of charge to some banks in Latvia, Estonia and Poland. What is more, despite the location of the owners transfers among Paysera accounts are free of charge as well.
For international transfers banks charge commission fees twice higher or even more. For instance, if an owner of a small business in Poland transfers 700 EUR 5 times a year to a supplier in Croatia using bank services, it costs him/her 60 EUR. With Paysera it would cost 5 HRK (0,65 EUR), which is 92 times less, and the payment usually reaches the recipient on the same day.
Paysera users save millions of Euros from international transfers only. In Lithuania, with almost 3 million people and where Paysera occupies 13% of the market of international transfers, business and residents save 3-4 million EUR a year just from international transfers and currency convertion.
Having finished an important stage of development in ES countries, Paysera is looking towards development in the Eastern part of Europe. In the near future the company intends to enter Russian and Belorussian markets. At the moment, money transfers to these countries via Paysera cost 3.25 EUR.
Currently Paysera has 180,000 users. EUR 750M was transferred via Paysera in 2014. Since the system was launched two years ago, 70 banks all over the world have chosen to become its partners.
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