Banks must tell you how much you paid in total for miscellaneous fees last year

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The Law on Payment Services and Payment Systems also specifies that the payment service provider is obliged to submit the report no later than the end of January of the current calendar year for the fees charged in the previous calendar year.

Banks must inform citizens how much they have paid in total for various fees for managing their accounts. The bank should do this at least once a year. This results from the Law on Payment Services and Payment Systems, which came into force on January 1 last year.

Some banks sent a notification that in accordance with the Law on Payment Services and Payment Systems, the bank prepared and provided reports on total fees charged from the payment account in Denars or foreign currency and from credit cards, for the payment services that were used during 2023 . According to the notices, the statements are available free of charge, at the bank's counters, or through the Internet bank profile.

"Sloboden Pechat" checked how it looks in practice at the three largest banks. Those who have electronic banking of NLB Bank can easily find a report on the fees, and by opening it, you can see how many annual fees the user has paid. One specific example shows an annual amount of MKD 2.276, but of course, that is individual for everyone. Broken down by items, in the specific example, the annual charge for maintaining the transaction account is 480 denars, the annual use of a standard package for electronic banking was 840 denars, 130 denars were paid for orders through electronic banking, the annual membership fee for the basic card is 300 denars, 250 denars were spent for cash payments at the counter, 576 denars for orders to the IRS.

Komercijalna banka has sent a notification about the availability of the report, but the electronic banking users we contacted say that they were unable to find the electronic report.

The users of the services of Stopanska banka say that, at least for the time being, they have not received a notification for a report on the total fees charged, nor that they could find such an electronic report.

The Law on Payment Services and Payment Systems also specifies that the payment service provider is obliged to submit the report no later than the end of January of the current calendar year for the fees charged in the previous calendar year.

The Law also specifies how the report should look. According to that guideline, only a summary amount for the fees paid on an annual level is not enough, but an explanation should be given for each item separately. The report should contain information on the fee charged separately for each service used and information on how many times each service was used during the reporting period, along with the total amount of fee charged for each service used. It is the same for services when they are combined in a package. The Law also states that, if applicable, there should be information on the interest rate applied to the permitted overdraft on the payment account and/or to the silent debt balance on the payment account, together with the total amount of interest charged for the used permitted overdraft and/or or the silent liability balance for the reporting period. Also, with the indication "if applicable", there should be information about the passive interest rate applied to the payment account, together with the total amount of interest paid for the reporting period and the total amount of fees charged for all services used during the reporting period.

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