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Parliament harmonises bank fees with EU rules

On November 4, parliament approved an amendment to the law on payment services, which is to come into force on December 1, 2009 and it will change the way clients of banks are charged, the SITA newswire reported.

On November 4, parliament approved an amendment to the law on payment services, which is to come into force on December 1, 2009 and it will change the way clients of banks are charged, the SITA newswire reported.

According to the new law, bank procedures and fees will be harmonised with European Union rules. The changes concern administration of current accounts, bank account statements, payment services, payment card transactions and direct debits. In line with the draft revision to the law on payment services, a bank is obliged to provide a private individual with a bank account statement free-of charge once a month, while electronic statements can be also requested or clients may ask to collect them at a bank branch.

The changes also affect fees for termination of an account, as well as fees for transactions. For instance, a client who withdraws money from an ATM of a competitor must currently also pay the accounting item fee in addition to the fee for money withdrawal. It will not be possible to charge two fees for one transaction under the revised law.

Revenue stamps, which could only be bought at post offices of Slovenská Pošta since August of last year, can again be bought in other venues. The draft amendment will end Slovenská Pošta’s monopoly position in selling revenue stamps as of December. Revenue stamps will be available in all institutions that use them as payment method. The current form of the law led to unnecessary complications, the authors of the proposal told SITA. SITA

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

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