SIBS says MB charges up to the banks

SIBS, the card payment services company that operates Portugal’s network of Multibanco ATM machines, has thrown the controversial issue of charges for using MB Way services squarely into the banks’ court.

“The possible increase of MB Way charges (by as much as €1 on a €40 transfer) is the responsibility of the banks”, SIBs said, quoted by business daily Jornal de Negócios.

Last week news of the possible increase in MB charges caused a furore among consumer watchdog groups like DECO.

SIBS has admitted that it is working (with the Bank of Portugal) on an amendment that allows linking payment accounts (in addition to the solution that already exists for payment cards) to MB Way.

This change implies that transfers are treated as “immediate”, rather than a payment between cards — which can also imply an increase in costs and therefore charges to cover them — a decision that will have to be made by the banks, which are also SIBS shareholders.

“It is the financial institutions that define the different conditions of use for the services used by their customers,” said the company’s official source. “SIBs is a processor that provides technological services to financial institutions, companies and other institutions. The MB Way is made available by 28 financial institutions with whom service users have a direct contractual relationship.”