Ecuador: Credit cards begin new fees and classfications

A new set of rates applies in this quarter for the financial services and the renewal of membership and credit cards. The difference this year is that new segments are created to differentiate the costs of the cards. The resolution of the Banking Board approved in December and is applicable from January to March, also endorsed the basic free 50 transactions that the client in financial institutions. The maximum rates they can charge credit cards are reduced in some cases and in others are raised according to the segment in which it is classified. Segments this quarter are not six but ten. Read Article