Central Bank of Venezuela increases banking service fees

The Central Bank of Venezuela (BCV) has implemented significant increases in banking service fees and account maintenance costs, as detailed in Official Gazette No. 43.427. These new rates, effective as of August 2026, replace the previous limits established in late 2025.

For mobile payment services (Pago Móvil), the minimum commission for person-to-person (P2P) transactions has risen from Bs. 2.00 to Bs. 14.00. Person-to-commerce (P2C) transactions between different banks will carry a commission of up to 1.50%. Failed transactions and reversals will also incur a fee of Bs. 14.00.

Point-of-sale (POS) terminal fees have seen a substantial rise, with monthly maintenance caps for bank-owned equipment increasing nearly sevenfold, from Bs. 3,521.60 to Bs. 23,771.00. Debit card commissions are set between 1.5% and 2%, while credit card commissions range from 3% to 5%.

Other adjustments include higher costs for corporate account maintenance, printed bank statements, and references, which can now reach up to Bs. 54.00. Additionally, fees for returned checks due to insufficient funds have been set at a maximum of Bs. 587.00 for individuals and Bs. 662.00 for legal entities. For foreign currency transactions, a 0.50% commission applies to currency sales for individuals, and a 1.50% commission applies to the use of prepaid cards abroad.