Wednesday, October 26, 2016

Banks justify delays in the receipt of commissions with technical issues – Jornal de Negócios – Portugal

A specific inspection of the Bank of Portugal found 29 breaches out of a total of 44 institutions, with regard to the sending of the invoice-the receipt of commissions, that should have occurred up to the end of January, advanced to the Public. The Portuguese Association of Banks (APS) has clarified that the delay in the sending of this invoice will be related to technical issues.

“The implementation of this legal obligation implied changes and significant developments at the level of systems of the banks that have motivated the delay referred to by the Bank of Portugal,” says the APB in a statement sent to journalists.

“Be that as it may, the APB emphasizes that the banks already inform their clients about the commissions and expenses charged in the statements and in the invoices they issue, the latter with fiscal goals,” adds the entity led by Fernando Faria de Oliveira.

“The invoice-receipt is a document only, complaint summary, which aims to allow clients to view aggregated in a single document the fees and expenses incurred, supported in the previous year, associated with the account to the order. This is one element of additional information, since the banks already offer to their customers, throughout the year, all information regarding the commissions and expenses charged through the statements sent (on paper or by e-mail) and via platforms such as online banking and the ATM,” concludes the association representing the national banks.


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