Project: ATMs in Romania to display value of commission for each operation

Banks will be required to display on their ATMs screens all commissions related to the operations the client wants to make with a credit or a debit card, according to a draft order of the National Consumer Protection Authority ANPC, released for public debate. “Service providers that perform payment transactions via credit and debit cards at ATM terminals are required to inform clients of all fees, commissions or any other types of costs,” reads the project. The information on cost must be visible and easy to read, and to specify the exact amount that the client has to pay for each transaction, not the precentage charged. Local bank representatives say that the public debate time window for this project was too short and that they have not been previously asked for their opinions on the initiative. “Any measure aimed at achieving this goal (consumer protection – e.n.) will be supported by us, on the condition that such measures be implemented constructively and not create distortions in the market,” said the Romanian Banking Employers’ Union Council, quoted by Mediafax. Irina Popescu, irina.popescu@romania-insider.com