Spectator on facebook

Spectator on facebook

Finance Ministry: Banks must be more transparent about fees

THE SLOVAK Finance Ministry has prepared a revision to the law on banks that will force them to inform clients openly about fees for banking services, the daily SME reported.

The ministry wants to encourage competition, which it thinks could lead to a decrease in banking fees.

This would be achieved through several changes to existing practice. One is that the banks would be obliged to inform their clients about all expenditures and yields resulting from a contract with the bank. Under the new legislation, banks would also be obliged to publish all changes in the prices of banking fees on their website and in bank branches 15 days before they take effect.

Another measure is the creation of a database on bank fees from different bank, which will be published on the website of the central NBS bank, allowing people to compare the fees and choose the bank that suits them best.

The banks say, however, that the information is already available. The banks and independent analysts alike are sceptical about whether fees would decrease as a result of the measures.

Compiled by Martina Jurinová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

LGBTI people in the regions: We change people’s minds

Bratislava will dress up in rainbow colours this August again, for the seventh time. This will be for the Bratislava Dúhový Pride diversity festival. But the colours of the rainbow are less bright in the regions,…

Slovakia’s LGBTI community seeks to expand their rights.

Foreigners: Top 10 events in Bratislava Video

Tips for the top 10 events in the capital between August 18 and August 27, as well as regular services in different languages, training for foreigners in English and highlights of the year.

Pivobrana - Beer Festival

Have you ever climbed a via ferrata? Photo

In central Slovakia, there is one also suitable for beginners. Here are some of the views it offers.

Agrokomplex opens its gates Photo

This year’s exhibition has more discussions with experts and a family programme.