As part of the application of the Law No. 31143, Law that protects consumers of financial services from usury, The Superintendency of Banking, Insurance and AFP (SBS) has been preparing a project for a few days that seeks to end the commissions or charges that financial entities make to their clients.
The resolution, which is in the pre-publication phase, establishes that if the banks wish to make these charges, they will have to support the charges as services that, in fact, have been provided, or that generate an additional cost. Among the sections of the document, it appears:
Examples of charges that do not meet the criteria of the regulation to have the quality of commissions or expenses:
“In banking companies, inter-place charges for withdrawing cash through an ATM of the bank itself or at service windows in a location other than the city where the bank account was opened.”
This new measure prepared by the SBS will reach withdrawals made at ATMs located in a different province than the one in which the account in question was opened. The project also restricts fees for policy evaluation, administration or management, as well as financial advice.
This project is still in the stage of receiving comments that will continue until November 12, after which it can be published.
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