Six out of ten Portuguese citizens consider bank account maintenance fees high, yet half are unaware of how much they pay, a study by Nickel, a BNP Paribas payment institution, and DATA E revealed on Wednesday.
“The results of this study show that many Portuguese are not fully informed about the charges associated with their bank account and feel they are paying excessively high fees. This scenario underscores the importance of clearer, more balanced solutions that cater to the population’s needs, promoting a fairer and more transparent relationship with financial services,” stated João Guerra, CEO of Nickel Portugal, in a statement obtained by Notícias ao Minuto.
The study shows that the “average fee amounts to around 52 euros per year,” according to the same report.
“However, significant regional disparities exist: Algarve and the North regions pay above average, while Alentejo and Porto present below-average national values. Cost remains a key factor in choosing a bank, with five out of ten respondents considering maintenance fees in their decision,” the report noted.
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Notícias ao Minuto | 10:30 – 20/02/2025
Do Portuguese citizens check bank fees?
“The same study also reveals that nearly half of the Portuguese (46%) do not recall the last time they checked their bank’s fee schedule, with only 40% remembering the last time they did, particularly in Porto (44%) and Centro (45%) regions, which are above average,” it stated further.
Additionally: “31% admit not knowing their bank’s fee schedule, especially in Alentejo (39%), which has the highest percentage,” it was noted.
According to the same announcement, this study was conducted by Nickel in partnership with DATA E, carried out from April 1 to 4, 2025, involving 1,015 individuals residing in Portugal (mainland and autonomous regions of Azores and Madeira), aged between 18 and 64 years, with a geographic distribution divided by NUTS II.
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Notícias ao Minuto | 11:08 – 03/04/2025
It should be noted that last year the Government approved, in the Council of Ministers, limits on bank fees for instant transfers made via mobile applications.
“To protect consumers and banking customers, we approved a decree that imposes limits on bank fees for immediate transfers via mobile applications,” said Minister of the Presidency, António Leitão Amaro, at the press conference following the Council of Ministers.
The Government today approved in the Council of Ministers, limits on bank fees for immediate transfers via mobile applications.
Lusa | 17:51 – 02/10/2024
