Monday, 9 January 2012Many banks in Bulgaria have been quietly imposing new, higher fees, analysts have said without disclosing the names of the financial institutions.
With lending at anemic levels and a tangible fall in the income earned on deposits, banks are relying on the quiet creep of existing fees, hoping that consumers will not notice the increase, the experts told Nova TV channel.
In their words the first signs of the trend were visible even before the start of the new year and concerned primarily the banks' corporate clients, but not only.
For all consumers, the result is a quiet creep of new charges and fees of BGN 0.10 for cash withdrawals at ATMs even if these belong to the bank the clients are keeping their savings at.
A major lender, whose name was not disclosed, has even resorted to charging customers to use their debit cards.
Most banks however have not updated the fee rates on their sites, the experts warned.
Banks have already lowered the rates they pay savers and even though most consumers barely notice, it translates into real money.
Yet a financial analyst told the media that for the time being banks are reluctant to increase the costs of credit.
Regardless of what fees banks are trying to sneak past their clients, they have no right to hide them in fine print or impose them with no notice at all.
Bank officials have been adamant that they have been transparent about the price increases and are providing ample ways for customers to avoid the monthly charges. Experts in their turn recommend using online banking.
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Monday, 9 January 2012
Novinite
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