The chief executive of Caixa Geral de Depósitos, José de Matos, today aligned his bank with the position of the president of the Portuguese Association of Banks (APB) saying that he believes that banks need to offset costs and should be compensated for any imposition of a limit on fees paid by merchants to banks for electronic payments.
José de Matos reminded us all today that Portugal has one of the world's most professional and efficient payment systems and its banks need to be compensated for this "huge" service to the economy.
José de Matos told reporters today that “clearly we have in Portugal one of the most efficient payment systems for retail in the world. Such services cost money and therefore banks need somehow to offset the costs incurred in running this service for the economy, businesses and individuals in this country."
The Chairman of APB, Faria de Oliveira, said on Wednesday that the proposed implementation of a limit on fees paid by merchants to banks for electronic payments, could well mean that banks decide to charge fees for cash withdrawals made at ATMs.
See also http://www.algarvedailynews.com/news/754-banks-threaten-to-charge-for-atm-cash-withdrawals
