Banks report sharp hikes in fees and commissions

Banks have started to tell their customers that they will increase their commissions and fees for credit card arrears. Considering that banks are required to report adjustments 60 days in advance, the increases will take effect in April. The DNU signed last December by President Javier Milei releases commissions and penalties for non-compliance. Previously, the law set a cap of 50% above the financing rate. Now, that limit is gone, and issuers can charge users as much punitive as they want. It should be remembered that the only condition is that they will not be able to capitalize on them. In this context, Banco Santander informed its customers that as of April the cost of maintaining the current slope will increase from $2,780 to $5,420. In the case of the Black package, the cost will range from the $33,395 per month currently in force to $65,120.Banco Galicia indicated that the increases will be communicated in March and will begin to take effect in May. For its part, Brubank will have a maintenance cost for an international Visa credit card of $4,800 per month from April. The digital entity will adjust the cost of cash withdrawals at ATMs, from the current $750 to $1,500 in April. Ualá reported that cash charges from $5,000 to $50,000 will increase by 1.5% plus 21% VAT in April and those that exceed that amount will have an adjustment of 3.5% plus VAT. Withdrawals by Rapipago or Pago Fácil will go from $500 to $725.HSBC pointed out that the increases are in the pipeline, will accompany the inflation index and will have an impact starting in April. The DNU also enabled the payment of salaries through virtual wallet accounts (with CVUs), a benefit that the legislation until now reserved exclusively for bank accounts (with CBU). The Decree omitted the free payment of the so-called salary accounts. However, with the suspension of justice in the labor chapter, for the time being these continue to be rewarded.

Original source in Spanish