The Plenary Session of Congress approved in a second vote the bill that eliminates commissions for bank transfers and credit card payments. The rule introduces a modification to Law 31143, known as the law that protects consumers of financial services from usury.
Said modification introduces the Complementary Provision, specifying that the collection of commissions for bank transfers between savings accounts and checking accounts within the financial system will not apply, except for transfers to or from rural and municipal savings and credit banks, as well as cooperatives.
Card fees
Similarly, 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 rule states that this provision comes into force immediately and does not allow exceptions that limit its application, ensuring its effective compliance without legal ambiguities that can be exploited to continue abusive practices.
The Superintendency of Banking, Insurance and Private Pension Fund Administrators (SBS) has a period of 60 days to adapt the regulations and guarantee their implementation.
The approved opinion specifies that the SBS will supervise compliance with this new law; non-compliance by financial entities will give rise to sanctions as established, thus promising a fairer and more transparent operating framework for Peruvian consumers.
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