The Office of Competition and Consumer Protection declares that the bank fees for the reminders sent to clients should correspond to the actual costs incurred by banks for the preparation and delivery of the document.
Otherwise, they would expose consumers to unjustified costs. Will we pay the same amount for the prompt?
Credit forgetfulness, whether it is more or less intentional, can cost us a lot. By signing the loan agreement, we confirm that we have read and accepted the bank’s table of fees and commissions.
This may contain indications of the costs we will incur when the bank undertakes certain actions to recover the outstanding debt or reminds of the need to comply with contractual provisions.
Charges for late payment
Individual banks not only use different writers and debt collection tools but also tell them to pay for them differently. The most common writings are:
- prompt in writing: the table of commission fees of Good Finance assumes that the cost of the prompt regarding late repayment, unauthorized debt or lack of declared receipts for limited accounts is not more than USD 1.75 for ordinary mail, USD 4.20 for registered mail and USD 6.60 for registered mail with pickup orders. At Thrift Bank, we will pay no more than USD 18 for a written warning, but it has been added here that this fee is calculated on the basis of the actual costs of preparing the letter, printing it, monitoring the timeliness and repayment of the debt, and delivering correspondence. The Get Bank table of fees and commissions regarding Mortgage and Financial Loans and Loans indicates that the paper reminder sent is worth USD 15, which is exactly what Good Credit Bank deletes for the notification. A much higher cost – USD 25 – appears in the column “preparing and sending a reminder” in the tariff of fees and commissions for individual customers of Good Finance.
- electronic prompt: sending a reminder SMS will be free at Honest Bank and Good Credit. Unfortunately, for an SMS at Good Finance, which deletes USD 2 for sending an e-mail reminder, we will pay USD 3.
- telephone prompt: we will pay a lot more if a bank employee calls us by phone overdue. The least amount of phone prompts will get us at Honest Bank – it’s 3.90 USD. Talking with an employee of Good Finance (USD 10) or Good Credit (USD 13) will cost us a lot more.
- field debt collection: this one can cost a lot: Good Credit – USD 50, Good Finance – USD 85, Honest Bank – USD 106.
Not just debt collection
As mentioned, the reminders sent to us do not have to remind us of any arrears, we will also be out of pocket if the bank is forced to remind us of the obligation to provide documents or information which we have obliged to provide when signing the loan agreement.
As above, we will pay no more than USD 1.75, USD 4.20 or USD 6.60 for this type of shipment at Good Finance.
The table of fees and commissions for loans and mortgage loans at Good Credit already indicates, however, that this fee – charged no more than once a month, is USD 15.
At Across Lender, it will be USD 30 for housing loans, consolidation loans, and mortgage loans. Despite all this, Thrift Bank, which cancels as much as USD 50, is paying less than for this “privilege”.
Exposure to unreasonable costs
The dispersion of the number of gift fees is, however, surprising in the context of the recently completed proceedings of UOKiK in relation to Good Finance.
The bank has already changed the number of fees charged (as above), but until October 27, 2014, it collected USD 25 for sending a reminder by post and e.g. USD 9 for a telephone prompt.
The Office concluded that “the way Good Finance charged fees was unlawful because it exposed consumers to unjustified costs. The Office reminded us that the number of fees should result from the calculation of actual expenses incurred by the entrepreneur.
” As a consequence, Good Finance significantly reduced the number of fees charged for its remembrance activities. In this context, it is impossible not to ask, however: what about the rest of the banks?