Martedì, 25 Settembre 2018

Italian banking could be cheaper, says watchdog


Rome, September 12 - Maintaining a current account
in Italian banks is expensive and clients should be able to find
cheaper alternatives, the antitrust authority said Thursday.
By shopping around, citizens could save as much as 180
euros annually in banking costs, and online banking is one
viable option, said the watchdog.
It called for greater transparency from banks in the costs
of the services they provide, noting it can be difficult for
bank customers to know how much they are being charged or how to
change banks.
Up to 70% of customers bank at the same high-cost
institutions, the watchdog added.
It noted that there are still significant barriers to
competition in Italian banking, and greater competition might
help to lower prices.
In response, the Italian banking association said that the
price of banking has fallen by about 100 euros on average over a
five-year period ending in 2012.
Online banking saves a client about 30% on banking costs,
it said.

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