Card Transaction Administration Fees

In the context of the “Provision and Use Of Payment Services and Access to Payment Systems Law of 2018” , the way in which the Card Transaction Administration Fees are presented on the account statements, has changed.

With the implementation of this change on account statements, two separate postings will be presented as follows:

a) The initial transaction amount, as this has been converted to the currency of the account to which the card is connected,

b) The 3% Administration Fees on the transaction amount, where applicable, as this has been converted to the currency of the account to which the card is connected.

It must be noted that in case the transaction concerns cash withdrawals, the postings regarding the Cash Advance Fees will continue to be shown separately.

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