Consumer, bank unions fight over service charges

Consumer, bank unions fight over service charges

BALIKESİR - Anatolia News Agency
Turkey’s Consumers’ Union has locked horns with the Turkish Banks Association (TBB), claiming most banks’ service charges are illegal, while the bank organization countered that lenders have a legal right to charge for their services.

“The fact that a bank, which earns money from yours, additionally charges you an account maintenance fee has no excuse, and it’s unacceptable,” the Consumers’ Union said in a written statement sent to Anatolia news agency.

Union claims that credit card fees and account maintenance fees are not legal since some banks prefer not to charge and provide fee-free credit card options.

Meanwhile, the TBB said customers had the right to choose between banks as Turkey’s banking watchdog, the BDDK, offers a platform where they can access compared prices, unlike any other sector.

The union of lenders referred to the 12th clause of Turkey’s Commercial Code, which ensures the rights of businesses to charge fees for services. The Turkish banking sector earned 14.8 billion Turkish Liras from service charges last year.