EUROSYSTEM

Fees Comparator Glossary

Terms and definitions of the services included in the Fees Comparator

Cash advance The customer takes cash out up to the credit limit available on the credit card.

Cash withdrawal The customer takes cash out of his/her account.

Intrabank credit transfer The payment service provider transfers funds, on the instruction of the customer, from the customer’s account to another account with the same credit institution. See ‘credit transfer’ and ‘intrabank’.

Intrabank standing order The payment service provider makes a regular transfer, on the instruction of the customer, of a fixed amount of money from the customer’s account to another account with the same credit institution. See ‘standing order’ and ‘intrabank’.

Maintaining the account The payment service provider operates the account for use by the customer.

Maintaining the basic The service associated with the management of a basic bank account, as set forth in Article bank account 1 (2) (d) of Decree-Law No 27-C/2000 of 10 March 2000. See ‘basic bank account’.

Maintaining the package The service that includes an integrated management of a payment account and the provision account of associated services under conditions other than those laid down for the basic bank account and for the standard account. This service requires the payment of a single fee. See ‘package account’.

Maintaining the standard The service associated with the management of a standard account referred to in Circular account Letter of Banco de Portugal No 24/2014/DSC, of 10 March 2014. See ‘standard account’.

Non-SEPA+ credit transfer The payment service provider transfers funds, on the instruction of the customer, from the customer’s account to another account outside the SEPA+ area. See ‘credit transfer’ and ‘Non-SEPA+’.

Non-SEPA+ standing order The payment service provider makes a regular transfer, on the instruction of the customer, of a fixed amount of money from the customer’s account to another account outside the SEPA+ area. See ‘standing order’ and ‘Non-SEPA+’.

Providing a credit card The payment service provider provides a payment card linked to the customer’s account. The total amount of the transactions made using the card during an agreed period of time is taken either in full or in part from the customer’s payment account on an agreed date. A credit agreement between the payment service provider and the customer determines whether interest will be charged to the customer for the credit. See ‘credit card’.

Providing a debit card The payment service provider provides a payment card linked to the customer’s account. The amount of each transaction made on the card is deducted immediately and in full from the customer’s account. See ‘debit card’. 2 Banco de Portugal • Fees Comparator Glossary oftermsusedintheFeesComparator Basic bankaccount ATS (Automatedtellersafe) machine) ATM (Automatedteller SEPA+ standingorder SEPA+ credittransfer to-order crossedcheques Requisition anddeliveryof cheques not-to-order crossed Requisition anddeliveryof card Providing aprivatecredit

merely allowsthecardholder: between the institution and the customer. This card may only be used in a limited way and The serviceassociatedwithprovidingacardundercreditagreemententeredinto Current accountthatprovidesaccesstoarangeofservicesdefinedbylaw: depending onthenetworkused,paymentsforservicesorfundtransfers. such as: cash withdrawal and deposit, check of account balancesand transactions and, of automatictellermachinetoaccessarangeservicesmadeavailablethesecards, holders of payment cards witha magnetic stripe and/or chip issued by the institution owner automated equipment belonging to aprivatenetwork of that institution, which allows the The channelforcustomerstoaccesstheservicesprovidedbyinstitutionthroughan transfers. and transactionsand,dependingonthenetworkused,paymentsforservicesorfund available tothesecards,suchas:cashwithdrawalanddeposit,checkofaccountbalances ment cardswithamagneticstripeand/orchiptohaveaccessrangeofservicesmade automated equipmentbelongingtosharednetworks,whichallowstheholdersofpay The channel for customers to access the services provided by the institution through See ‘standingorder’and‘SEPA+’. of afixedamountmoneyfromthecustomer’saccounttoanotherSEPA+account. The payment serviceprovidermakes a regulartransfer, on the instruction ofthecustomer, See ‘credittransfer’and‘SEPA+’. customer’s accounttoanotherSEPA+account. The payment service provider transfers funds, on the instruction of the customer, from the See ‘crossedcheque’and‘to-ordercheque’. endorsing thecheque. cheques. Ato-orderchequeisathattherecipientcanpassontothirdparty,by The customer requests andthepayment service provider delivers to-order crossed See ‘crossedcheque’and‘not-to-ordercheque’. as thebeneficiaryandcannotbeendorsed. cheques. A not-to-order cheque is a cheque that can only be paid to the person identified The customerordersandthepaymentserviceproviderdeliversnot-to-ordercrossed See ‘privatecreditcard’. the SocialSupportIndex(IAS),i.e.EUR 4.38accordingtothevalueofIASin2021. of value the of 1% exceed cannot year a in account bank basic the for fee maintenance The • • • • • • • • • • • • • • • • • • to purchasegoodsorservicesattheissuer’s premises orwithinalimitednetworkof an amountequaltoorlessthan30euros pertransaction. Five transfers, per month, through payment applications operated by thirdparties for Union; European the within and transfers interbank 24 of year, calendar each for maximum, that can be carried out, and online or mobile banking services, in which case there is a Interbank transfers through ATMs, without restrictiononthenumberoftransactions carried out; Intrabank transfers,withoutrestrictiononthenumberoftransactionsthat canbe Deposits, cashwithdrawals,paymentsforgoodsandservicesdirectdebits; Union, theonlineormobilebankingservicesandbranchesofcreditinstitution; Providing access to the transactions from the account through ATMs in the European types; more restrictiveconditionsthantheotherdebitcardsprovidedwith account Providing adebitcardtomake transactions from the account; this card must not have Opening andmaintainingacurrentaccount; to purchaseaverylimitedrangeofgoodsorservices. service providersunderdirectcommercialagreementwithaprofessionalissuer;or - Cash advance Basis (offees) European Union European EconomicArea Debit card Crossed cheque Credit transfer Credit card Cheque Channel (distribution) tion, regardless of the frequency of charge (this is the case, for example, of fees charged for for charged fees of example, for case, the is (this charge of frequency the of regardless tion, institu the by charged amount annual maximum the show basis annual an on shown Fees an annual,occasionalorregularbasis. Field oftheFeesComparatorthatshowsinformationcharacterisesfees.canhave respective paymentaccount. the card is used for payments, the amount is immediately debited from the balance of the ments forgoodsandservices,cashwithdrawalsordeposits,amongotheroperations. When Payment cardlinkedtoapaymentaccount,whichallowstheholdermake purchases,pay ter ifthebankindicatedispayer’sandpayeeacustomerofthat bank. be depositedinthebankindicatedbetweenlines,althoughitcanpaid overthecoun bank iswrittenbetweentheparallellines,itcalleda‘specialcrossing’: cheque canonly one of name the If bank. payer’s the of customer a is beneficiary the if counter the over paid lines, itiscalleda‘generalcrossing’:thechequecanbedepositedinanybank,but Cheque crossedbytwoparallelandobliquelines.Ifnothingiswrittenbetweenthe ment accountsbymakingthemavailabletoapayee. holds thepayer’spaymentaccountandthatallowspayertotransferfundsbetweenpay Operation carriedoutontheinitiativeofpayerthroughpaymentserviceproviderwho amount usedandnotpaidonthemonthlypaymentdate. to a payment schedule agreed in advance. In the latter case, interest may be charged on the referred to as ‘end of month’ or ‘100%’) or may be partially paid over time, usually according the credit used may be paidin full on the monthly payment date (payment method usually deadline and under the conditions agreed with the institution issuing the card. For example, tions orATMs. When thecardisused, the holderreceives a credit,whichisrepaidupto and, insomecases, to make cash advances,institu in particularatthebranchesofcredit and the card holder. This card allows the holder to make payments for goods and services Payment card with a credit limit previously agreed between the payment service provider deposit accountsheldbythem. A paperpaymentinstrumentthatallowstheissuers(drawers)tousefundsdepositedin the service. fees, customersshouldchoosethedistributionchannelthroughwhichtheyintendtoaccess ing a credit card, and (vii) providing a private credit card, when searching for information on the basicaccount,(iv)maintainingpackage(v)providingadebitcard,(vi)provid maintaining (iii) account, standard the maintaining (ii) account, the maintaining for(i) Except operator andmail. branch, ATM, ATS, online, mobile device, SMS, telephone with operator, telephone without For the purposes of the Fees Comparator, the following distribution channels are considered: provided. The meansbywhichtheserviceincludedinFeesComparatorisrequested,usedor may alsobecharged. included inthegeneralconditionsofuseagreedwithrespectivecardissuer,andinterest account. Theuseofacashadvancemaybesubjecttothepaymentfees,whichmust in thecreditagreement.Theamountofadvanceispostedrespectivecard institutions, ATMs,throughanonlinechanneloramobiledevice,uptothelimitestablished Possibility of a credit card holder to withdraw cash, in particular at the branches of credit order ornon-SEPA+standingagreedwiththecustomerisshown. of each payment transaction carried out under an intrabank standing order, SEPA+ standing In the case of regular fees, the maximum amount charged by the institution for the execution cheques). withdrawals, intrabank credit transfers or the requisition anddeliveryof to-order crossed cash for charged fees example (for shown is question in service the of provision the for tion institu the by charged amount maximum the occasionally, only charged fees of case the In account maintenance,providingadebitcardorcreditcard). Malta, Netherlands,Poland,Portugal, Romania, Slovakia,Slovenia,SpainandSweden. Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, 27 Member States: , Austria, Belgium, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, Established bytheTreatyonEuropeanUnion(Maastricht,1992),itis composedof and Iceland. Area whichincludesthe27MemberStatesofEuropeanUnionandNorway, Liechtenstein ------3 Glossary 4 Banco de Portugal • Fees Comparator Private creditcard Price list Package account Online Not-to-order cheque Non-SEPA+ NIB Mobile device Intrabank IBAN Frequency ofcharge Fee and cannotbeendorsed. name ofthecheque’srecipient.Thischequecanonlybepaidtopayeeindicatedtherein the after or before appears order) to (not ordem’ à ‘não expression the which on Cheque provided bytheinstitutions,oroutsourced,withinscopeoftheiractivity. services for exchange in institutions to pay to obliged are customers that money of Amount parties) that customers may have to pay to the credit institution. In the interest rate leaflet, leaflet, rate interest the In institution. credit the to pay to have may customers that parties) third by required are that institutions by incurred (charges expenses the of amount tive indica the and offer they services and products banking the for charged fees all of amount maximum the submit to required are institutions credit leaflet, expenses and fees the In websites. their on and branches their at leaflets these provide to obliged are institutions Credit leaflet. rates interest the and leaflet expenses and fees the includes that Document associated services. are includedinthepackage.Asinglefeeischargedtomanageaccountandprovide age accountisnotastandardisedaccount,sotheinstitutionfreetodecidewhichservices than thoseestablishedforthebasicbankaccountandstandardaccount.Thepack Payment accountthatincludestheprovisionofassociatedservicesunderconditionsother phone, smartphoneortablet). mobile computer, (namely devices different by used be can which browser, internet the via The channelthroughwhichcustomershaveaccesstotheservicesprovidedbyinstitution See ‘standingorder’,‘credittransfer’,‘SEPA’and‘SEPA+’. Expression usedtodesignatestandingordersorcredittransferswhere: See ‘IBAN’. 2016, theIBANhasbecomeonlyidentifierofpaymentaccountsinPortugal. about the provider, 11 digits for the account number and 2 control digits. Since 1 February er inwhichthepaymentaccountwasopened,followedby4digitsforadditionalinformation in Portugal. The NIB contains 21 digits: the first 4 are the code of the payment service provid opened accounts payment identify to used number the is This Number. Identification Bank institution viaanapponamobilephone,smartphoneortablet. The channel through which customers have access to the services made available by the See ‘standingorder’and‘credittransfer’. service provider. A standingorderorcredittransferbetweenpaymentaccountsheldwiththesame followed by21digitscorrespondingtotheBankIdentificationNumber(NIB). contain up to 34 characters. In Portugal, the IBAN has 25 characters and starts with PT50, can IBAN the (SEPA), Area Payments Euro Single the In account. payment each identifies uniquely that structure International BankAccountNumber.TheIBANisthestandardised fees. Field oftheFeesComparator,whichshowsinformationabouthowofteninstitutionscharge Credit cardthatcanonlybeusedinalimitedwayandmerelyallowsthe holder: normally carryout,theloanstheygrantanddepositsreceive. institutions must indicate the most representative interest rates for the transactions they • • • • • • • • to purchaseaverylimitedrangeofgoodsorservices. service providersunderdirectcommercialagreementwithaprofessionalissuer; or to purchasegoodsorservicesattheissuer’s premises orwithinalimitednetworkof leu, eveniftheaccountsofpayer,payeeorbothareheldinSEPAarea. Romanian or kronor Swedish euro, than other currency a in made is transaction the the accountofpayer,payeeorbothwasnotopenedinSEPAarea; - - - Standard account SEPA+ SEPA To-order cheque Standing order Cheque containing the words ‘à ordem’ (to order), which the beneficiary can sign it on to a third party,byendorsingthecheque. to on it sign can beneficiary the which order), (to ordem’ ‘à words the containing Cheque Norway, SanMarino,Switzerland,UnitedKingdomandVatican). cerned (27MemberStatesoftheEuropeanUnion,Andorra,Iceland,Liechtenstein,Monaco, the rulesandstandardsrelatedtooperationofpaymentsystemsincountriescon Single EuroPaymentsArea,whichwasdesignedundertheMonetaryUniontoharmonise ment accounttomaketransfersatregularorpredeterminedintervals. Instruction given byapayertothe payment serviceproviderwhichholdsthe payer’s pay A singlefeeischargedtomanagetheaccountandprovideassociatedservices. that sellsit: Standardised accountthatincludesthefollowingservicesregardlessofcreditinstitution See ‘standingorder’,‘credittransfer’,‘SEPA’and‘Non-SEPA+’. Expression usedtodesignatestandingordersandcredittransferswhere: and asinglesetofpaymentinstruments(credittransfers,directdebitscards). geographical locationandusingasinglepaymentaccountlocatedinanycountrythatarea in eurounderthesameconditions,withrightsandobligations,regardlessoftheir payments receive and make may agents economic other and companies citizens, SEPA, In • • • • • • • • • • • • and intrabankcredittransfers; Enabling deposits, cash withdrawals, payments for goods and services, direct debits of cashwithdrawalsintheirbranchestothreethesamemonth); and mobilebankingservicesoverthecounter(institutions may limitthenumber Providing accesstomaketransactionsfromtheaccountthroughATMs,online Providing adebitcardtomaketransactionsfromtheaccount; Opening andmaintainingacurrentaccount; the transactionismadeineuro,SwedishkronaorRomanianleu. the paymentaccountsofpayerandpayeeareinSEPAcountries; - - 5 Glossary