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Plastic card users to pay a 1% fee for international purchases

Santo Domingo.- Credit and debit card users will have to pay one percent of the amounts of international transactions, after the Banks Superintendence approved the Dominican Republic Banks Association’s (ABA) to pass part of the cost charged by card issuers to the banks, for each transaction.

“The reason is that internationally, the banks that issue cards in the country are charged by the Committee for international transactions,” said ABA President José Manuel Lopez Valdés. He said the international commissions range from 1.5% to 2.5% while Dominican banks charge only 1%.

He said the banks will be charging the commission while they adapt their technology platforms, noting that Popular, the biggest bank, has already announced the measure on the fee starting December 1. “In other parts of the world, such as United States, some countries of Europe and Latin America, card users are always charged this fee.”

Source: DT

Category: DR News |

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Last updated October 24, 2016 at 6:05 PM
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