Debits and credits
Turkish central bank raises credit card cash withdrawal rates
Turkey's central bank on Saturday raised the maximum interest rate on credit card cash withdrawals to 5% from 4.42%, according to a decision published in the Official Gazette, in a move aimed at additional tightening.
Little use of cards in services
The value of debit and credit cards transactions by Greeks last year reached 49.6 billion euros, accounting for approximately 38% of private consumption.
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Bank Fees in Bulgaria Continue to Rise
The trend of rising fees that banks collect for various products and services continues. The next increase has been a fact since the beginning of August, mainly referring to the service in the branches. The explanation is that, in addition to inflation, the administrative costs of maintaining a branch network make services offered locally more expensive.
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Only 14 percent use cash for daily purchases
Some 14 percent of Turkish consumers use cash for everyday purchases, while 49 percent say they prefer credit cards, according to a survey by IPSOS.
Around 55 percent of those who chose cards say they don't have enough income to make payments in cash, while 32 percent say cards help them postpone payments for a month.
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Online payment demand to be put on ice
The government will suspend the measure that forced taxpayers to spend 30% of their annual earnings online, though only for 2020 incomes. This means that those who failed to reach the necessary quota will be spared the fines due, which normally amount to 22% of the shortfall.
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No need for EU pandemic credit line on Cyprus
Cyprus has no need to tap the European pandemic credit line at present, the island's Finance Ministry said on Wednesday.
"The ESM credit line is also being evaluated but no political decision has been taken... to utilize the said instrument," it said in a statement to Reuters.
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Demanding rule for online payments to start applying
Taxpayers will need to remember to use their credit and debit cards from the start of the new year, as they will need to make online payments amounting to at least 30 percent of their income over the 366 days of 2020, or face a hefty fine.
Card payments leap higher in third quarter
Credit and debit card transaction turnover grew almost 15 percent over the third quarter of the year on an annual basis, banishing fears that the growth rate of online transactions might slow to below 10 percent in 2019.
Card transactions added up to 11.4 billion euros in July-September, up 14.6 percent or 1.4 billion euros from the third quarter of 2018.
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Banks charge customers for almost all of their services
Greek banks are now imposing charges on virtually all their services and customers' transactions in an effort to offset their losses from interest takings, which have been in constant decline over the last few years.
Lamda close to securing major line of credit
Lamda Development is close to sealing an agreement to open a major line of credit from foreign and domestic banks that will be used to finance the first phase of the Elliniko plot's development, Kathimerini understands. A share capital increase is also under consideration, without its timing, coverage or amount having been determined yet.
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