See tables
See press release
From now on, the BCRA will post a series of comparative tables showing the fees that banks charge for the products offered in April, in order to promote greater transparency.
According to Communication A 5928, banks must send such tables to their customers every time their fees are changed. Thus, financial consumers will be able to make informed decisions based on a wider range of information, and to choose the bank that better meets their needs.
The tables will be posted on the BCRA’s website, itemizing the fees for 5 products indicated in the regulation: savings account, current account, credit card, packages, and packages for recipients of social security benefits including pension advance payments.
The rankings of these tables will be prepared based on the stock of holders of these products as of December 2015. Effective rates will also be available to provide consumers with more transparent and comprehensive information.
For savings accounts, information will be provided on the fees applicable to issuance of additional debit card, replacement of lost or stolen debit card, use of ATMs outside the institution’s operating office, use of ATMs at another institution, use of ATMs abroad and minimum effective rate. No fees will be listed for opening or keeping an account, or for the provision of a debit card for the first time as those services are free of charge under Communication A 5927.
As for current accounts, the table will itemize maintenance fees, fees for checkbooks (50 checks) and maximum effective annual rate on overdrafts.
Credit cards will be divided into premium, international, domestic and regional/local. Each of these categories breaks down information into issuance service, renewal service, account administration and maintenance, replacement or reprinting of lost or stolen card, additional card and effective annual rate for financing.
Packages will be divided into premium and international, indicating the maintenance cost.
In the case of pension packages with advance payments, the maintenance cost of the package and the maximum effective annual rate on advance payments can be compared.
