Wednesday, 29 September 2021 18:23

Financial Commission seeks to eliminate mandatory credit card overdraft and membership fees

Written by Evelyn Alas

Deputies belonging to the Financial Commission of the Legislative Assembly, presented today a piece of correspondence that contains the reform to the Ley del Sistema de Tarjetas de Crédito with the purpose of eliminating membership and overdraft charges that allow users to make these payments optionally.

"We have decided to make a reform in the sense that membership payments are of an optional nature, under a contract where the client expresses his will", deputy Dania González.

In addition, deputy Caleb Navarro expressed that they have specifically presented two reforms to the Ley del Sistema de Tarjetas de Crédito. The first reform is to eliminate the mandatory charge of memberships. The second reform will seek to avoid credit card overdrafts.

"We know that many are charged between US$100 and US$250 depending on the category of the card", he said.

The President of the Financial Commission, Dania González expressed that since a few days ago they enabled an email in which many salvadorans have sent their complaints related to the mandatory charging of memberships and overdraft fees. "We have come to the conclusion that this should be eliminated", said the official.

The reforms presented will seek to avoid the abuse of undue charges on the credit cards of salvadorans.