Until now, it was possible to make immediate transfers through the MB WAY app at zero cost. But starting tomorrow, May 1st, using this application will be expensive, especially for customers of Banco BPI, which will start charging € 1.20 for the operation. Following is Millennium BCP. On June 17, customers will spend € 1.30 per transfer.
But these are not the only banks with commissions up their sleeves. Others already foresee this charge in their price lists, ranging from 21 cents (Caixa Geral de Depósitos) to 1.56 euros (Bank Asset). And they can start charging at any time.
It is up to the Bank of Portugal to limit the charges applied to transfers made through MB WAY, since it is this institution that validates the banks' prices. In order for the regulator to realize the impact these commissions have on users, we will send you a complaint on behalf of each consumer who signs up for our action.
For this purpose, DECO makes available on its website at www.deco.proteste.pt/mb-way a specific complaint form, which will give voice to consumers' dissatisfaction with the regulator.
Small amounts charged in large
MB WAY is the most used mobile payments app in Portugal. In addition to the transfers, it allows to make payments in commercial spaces and withdrawals in the Multibanco without resorting to the card, among other operations. An attractive land for the application of commissions.
According to SIBS data, more than one in four transfers via MB WAY are under € 10, which means that on average the consumer will pay a commission up to 15% of the total transaction, a figure we consider to be completely disproportionate.
We demand limits
Applying commissions to MB WAY, which replicates the use of Multibanco, contradicts its basic principles. Therefore, we believe that any fees associated with this service should not exceed the limits of the costs charged to merchants for card payments imposed by the European Union (0.2% for debit cards and 0.3% for credit cards) .
How much does it cost to pay and make transfers with MB Way?