The Central Bank of Venezuela (BCV) published a statement on August 5 updating the maximum fees that financial institutions may charge for their services. There are increases in the replacement costs of debit cards and account maintenance. The measure comes into effect Monday, August 10.

The charge for replacing debit cards in case of loss, theft or damage will be Bs. 2,620 (USD 0.099). The cost applicable to credit cards remains the same, ranging from Bs. 1,843 (USD 0.007) to Bs. 7,000 (USD 0.026), depending on the category of the card. Meanwhile, the maintenance fee for current accounts of legal entities rises to Bs. 949 (USD 0.003). For individuals, the cost remains at Bs. 60 (USD 0.0002).

There are also increases in fees for using Interbank Mobile Payment services. All transactions (both approved and rejected) of the Person-to-Person Service (P2P) and the Person-to-Commerce Service (P2C) will pay a minimum fee of Bs. 373 (USD 0.001) and Bs. 3,120 (USD 0.011), respectively.