Reported increases in bank account-maintenance and mobile banking charges have prompted calls for parliamentary scrutiny in Montenegro, following the introduction of new payment systems designed to reduce transaction costs and improve digital banking services.
An opposition lawmaker from the European Alliance reported that account-maintenance fees had risen by 30% and mobile banking charges by 20%. The higher amounts had appeared on account statements, prompting calls for an examination of banks’ pricing policies. The initiative includes a proposed hearing involving banking-sector representatives before parliament’s Committee on Economy, Finance and Budget.
Payment Reforms and Banking Charges
The initiative follows Montenegro’s introduction of the TIPS Clone instant-payment system, which enables transfers between accounts within seconds, operating around the clock.
The modernisation, together with the country’s integration into the Single Euro Payments Area (SEPA), has reduced fees for certain electronic transactions and expanded access to digital payment services.
Questions have been raised over whether banks are compensating for lower income from transaction fees by increasing other charges, particularly monthly account maintenance and electronic banking services.
There have also been allegations that some banks applied higher commissions to transfers of exactly €200, despite fee limits designed to protect customers making smaller electronic payments. According to the claims, certain institutions treated transfers of €200 as exceeding the threshold for lower charges, which applies to transactions up to that amount.
Consumer and Business Costs
The reported fee increases have not been independently established as a sector-wide trend, and no regulatory finding of improper charging practices has been announced.
The issue raises questions about how the benefits of payment-system reforms are reflected in the overall cost of banking services. Although SEPA and instant payments are intended to reduce transaction expenses and improve efficiency, customers also pay account-maintenance fees and charges for digital banking services.
For businesses, particularly small enterprises handling frequent transactions, account fees and payment commissions are recurring operating costs. A parliamentary review could examine the relationship between transaction charges, monthly account fees, digital banking tariffs and the costs of providing payment services. It could also assess whether banks consistently apply regulated fee thresholds. The parliamentary initiative is intended to evaluate the justification for higher charges and interest-rate practices.
