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The Peruvian Congress approves a bill to eliminate bank transfer fees

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The Peruvian Congress approves a bill to eliminate bank transfer fees

The Peruvian Congress has approved a bill that seeks to eliminate commissions for bank transfers and credit card payments, with the aim of preventing abusive practices in the financial system. The measure was announced this Saturday by Parliament, after a vote in plenary.

The project introduces modifications to Law 31143, known as the law that protects consumers of financial services from usury. According to the new regulations, the charging of commissions for bank transfers between savings accounts and checking accounts within the financial system will not be allowed, with the exception of transfers to or from rural and municipal savings and credit banks, as well as cooperatives.

Likewise, it is established that financial entities may not charge commissions for credit card payments made through entities other than the card issuer, with exceptions similar to those mentioned for transfers.

The president of the Consumer Defense Commission, Wilson Soto, highlighted that this modification will eliminate the costs that consumers assume for basic operations such as transferring their own money or paying their credit cards through different financial entities.

The bill also establishes that the Superintendency of Banking and Insurance of Peru (SBS) will supervise compliance with these regulations and that non-compliance by financial entities will give rise to sanctions as established.

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