Limits on bank fees on transfers made through payment platforms such as MB Way came into force today, after the publication of the legislation last week in the Official Gazette.
Transfers via these platforms already have, by law, exempt commissions when they do not exceed 30 euros per operation, 150 euros per month, or 25 transfers made in an agreed period.
If operations exceed these limits, operators can charge commissions that, with this legislation, are limited.
As of today, fees are limited to a maximum of 0.2% of the transfer amount for transactions associated with debit cards or instant transfers.
In August, the consumer protection association Deco warned of the risk of increased commissions on the MB Way service following the new payment regime, stating that it had sent a letter to the Government asking for urgent intervention and proportionality in commissions.
On the 2nd of October, the Government approved, in the Council of Ministers, limits on bank fees on this type of instant transfer, saying that the objective is to “protect consumers and bank customers.”
Samantha Gannon
info at madeira-weekly.com
