There are already five banks that charge or have confirmed that they will charge commissions on transfers made through the MB Way app: After BCP, BPI, Caixa Agrícola, and Santander, it was known that Caixa Geral de Depósitos (CGD) will also start to apply commissions to the operations carried out in MB Way.
Check out the fees set for the clients of these five banks when they transfer money through MB Way:
BCP: Millennium BCP customers have paid since June 1,248 euros for each transaction made on MB Way. Whoever prefers Millennium's own app pays 52 cents. For customers considered frequent transfers are free.
BPI: BPI was one of the first banks to announce commissions to MB Way. Bank customers pay 1.2 euros for each money transfer. Only those with so-called package accounts are excused. Those who prefer to use BPI's own application also do not have to pay anything.
Caixa Agrícola: Since June Caixa Agrícola has been charging for each transfer made on MB Way 25 cents including stamp duty. Commissions were applied in parallel with commissions applied to transfers made to traditional online banking accounts.
Caixa Geral de Depósitos: Caixa Geral de Depósitos (CGD) expects to charge commissions of 85 cents for each transfer made to MB Way. To this value is added the stamp duty that raises the final cost to 88.4 cents. Commissions begin to apply in January 2020. Eco News reveals that customers under 26 years of age or who have opened a Cash Account are exempt. Note for one more detail: who, instead of MB Way, use the application developed by CGD also does not pay for the transactions.
Santander: Customers with Stream, Maestro Jovem, #U, # Global U and Mundo 123 cards are exempt from commissions on both the MB Way app and Santander's own app. The bank that bought the Totta brand is also free of charge who uses the Santander app for a maximum of three monthly transfers not exceeding 50 euros. Santander app users who exceed these limits will have to pay 46.8 cents per transaction. By contrast, each transaction at MB Way is 93.6 cents if the customer does not have any of the Santander cards that do not require it.