Bank charges ruling delayed again

The Office for Fair Competition is expected to take a decision "imminently" in connection with the introduction of bank charges by HSBC last year. The results of the inquiry were expected to be concluded by mid-July and were then delayed to...

The Office for Fair Competition is expected to take a decision "imminently" in connection with the introduction of bank charges by HSBC last year.

The results of the inquiry were expected to be concluded by mid-July and were then delayed to mid-August.

A spokesman for the office said yesterday the media would be alerted as soon as HSBC was informed about whether action would be taken in its regard.

The Malta Financial Services Authority had requested the office to investigate HSBC's decision to impose a 75c charge on handling pension cheques issued by the Central Bank.

It also asked it to investigate a Lm4 administration fee imposed by HSBC if the average of the combined balances of an account holder's savings and current accounts did not exceed Lm75.

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