Two bankers attributed it to ensuring the security of operations and the safety of transfers

Merchants complain about the high cost of online banking services

Banks take care to ensure that banking operations related to online payment are taken seriously.


Traders reported that banks exaggerate the fees and guarantees they require in return for providing electronic payment services for the products they sell online to their customers, stressing that banks require a guarantee of at least 1% of expected sales, in addition to a full dirham fee for each sale, noting that These sums sometimes reach between 150,000 and 200,000 dirhams annually, which is a great cost to them, according to what they said.

In addition, two bankers said: “The banks take precautions to ensure the seriousness of banking operations related to online payment, that they are sound and that there is no suspicion of money laundering or anything else, in addition to that the amount of the guarantee comes in exchange for the security of these payments, and to ensure that they are not exposed to breaches, fraud or otherwise, This is a cost on the banks that must be covered by the beneficiary customer.

Corporate accounts

In detail, (S.A.), a merchant, said: “He offered to the bank in which his companies’ accounts are located to provide electronic payment services for his products. The bank requested 1% of a deductible amount of the expected total sales throughout the year, which amounted to 70,000 dirhams, in addition to fees. (Full dirhams) for each transfer, and an interest rate on sale outside the country at approximately 1.5%, noting that these amounts total annually approximately 200 thousand dirhams, which is a very large amount compared to the service provided.

In the same context, (A.S.), a merchant, said: “His bank stipulated a guarantee amount of 50 thousand dirhams, in addition to 50 fils for each sale made in exchange for the provision of electronic payment services.” He asked: “What is the cost that the bank bears in return for All these expenses? ».

He pointed out that he calculated the final cost that he would bear and found it to be approximately 150,000 dirhams, which is a very large amount, deducted from the return on sales, at a time when everyone knows the current market conditions.

Service fees

In turn, (A.A.), a merchant, said: “There is an exaggeration in the fees for electronic banking services, by some banks, and there are no specific fees by the central bank. Rather, the banks themselves set them according to their internal policies,” noting that he pays nearly annually 70 thousand dirhams, between a deposit and a fee for each transfer, demanding that a ceiling be set for these fees and their regulation, especially in light of the tendency of sales in all outlets to rely on "online".

Great cost

On the other hand, the banking expert, Muhammad Issa, said that “banks bear a great cost in providing and securing electronic banking services, especially payment services, as they require high levels of security to protect clients' funds from any breaches or fraud, in addition to the existence of requirements related to ensuring the seriousness of transfers. "It is a fact and not money laundering."

And he indicated that "the banks study the request of each company separately, and the fee is imposed accordingly, and there are no fees that are imposed except based on the data of this study."

For her part, the banking expert, Sheikha Al-Ali, said that “there are strict instructions from the Central Bank to banks regarding making sure that any financial transfers are real and not a cover for money laundering operations, especially in light of the increase in reliance on electronic payment after the (Corona) pandemic”, noting that Rehabilitation of a high-security technical infrastructure to implement financial transfer and electronic payment operations is very expensive, and banks annually bear millions of dirhams, and it is natural that this cost is transferred to the dealers, explaining that "the matter also varies according to the company's position in the market, its age, and the nature of the sales it provides to the customers."

Sheikha Al-Ali:

"Banks annually bear millions of dirhams to carry out transfers, and it is natural for them to transfer this cost to the dealers."

Mohammed Issa:

"The banks bear a great cost in providing and securing electronic banking services."

Banks requested 1% of the total expected sales throughout the year.

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