Regulatory Alerts2024-01-29
Circular to Banks No. 2024-3 dated January 29, 2024
The Central Bank of Tunisia issued Circular No. 2024-3 mandating banks to revise and cap fees for specific domestic services, including national card subscriptions, account maintenance, POS usage, and transfer commissions. The directive requires fee-free or reduced pricing for individual clients with a net monthly income of 1,500 dinars or less, while setting a maximum rate of 1.3% for POS transactions by equipped merchants. These revised fee structures take effect on February 12, 2024, and remain valid for a twelve-month period to alleviate customer costs and support national digital payment objectives.
Tunis, January 29, 2024
CIRCULAR TO BANKS No. 2024-3
Subject: Revision of certain bank fees.
The Governor of the Central Bank of Tunisia, Having regard to Law No. 2016-35 of April 25, 2016, establishing the status of the Central Bank of Tunisia and in particular Article 8 thereof, Having regard to Law No. 2016-48 of July 11, 2016, on banks and financial institutions, Having regard to Circular No. 2020-11 of May 18, 2020, on the conditions for providing domestic mobile payment services, Having regard to Circular to Banks and Financial Institutions No. 2021-05 of August 19, 2021, on the governance framework for banks and financial institutions, Having regard to Circular to Banks and Financial Institutions No. 2024-02 dated January 29, 2024, on the marketing and pricing conditions for financial products and services, Having regard to the opinion of the Compliance Control Committee No. 2024-3 dated January 22, 2024, as provided for in Article 42 of Law No. 2016-35 of April 25, 2016 establishing the status of the Central Bank of Tunisia, Considering the mission assigned to the Central Bank of Tunisia to promote the protection of banking service users in accordance with Law No. 2016-35 of April 25, 2016 establishing the status of the Central Bank of Tunisia, Considering the national objectives to combat financial exclusion and develop digital payments, Considering the willingness of banks to adhere to any initiative aimed at achieving these objectives and to any measure revising certain fees with a view to lightening the burden on customers.
Decides: Article 1: Banks must revise the level of fees for the services listed in the table below as follows:
| Services Provided | Beneficiaries | Characteristics/Basis | Maximum Pricing/Free |
|---|---|---|---|
| National Card Subscription | Individual clients with a net monthly income of 1,500 dinars or less | Any national card allowing withdrawals up to the balance at all bank and ONP automated teller machines, as well as online and POS payments | Free |
| Card Dispute/Blockage | Any client | National card | Free |
| Card PIN Recalculation | Any client | All types of cards | Free |
| POS Usage on National Card | Merchants equipped with POS terminals | Payment transaction | 1.3% of the paid amount |
| Account Maintenance | Individual clients with a net monthly income of 1,500 dinars or less | Deposit account | 3 dinars/month |
| Issued Transfers | Individual clients | Transfer | 30% reduction on transfer fee |
Article 2: This circular takes effect as of February 12, 2024. The provisions of this circular remain applicable for a period of twelve (12) months from the date of its entry into force.
The Governor Marouane EL ABASSI