The central bank has decided to remove all limits on domestic and international payment fees charged by banks. Banks will be free to fix their own fees from 1 December. Banks have praised the decision as they will be able to charge different fees for different types of transaction to counter risk, and can adjust their current fees to make them attractive. However, given the current low lending, banks are unlikely to raise their fees for fear of losing customers.
To continue reading...
Start a Trial
Register for a Central Banking trial to access this article. Sign up today and get access to: