Frontpage News 2013 The Danish Bankers...

The Danish Bankers Association launches new price portal

16 September 2013

Starting today, the Danish consumers can click through to a new price portal, and see what a basic deposit account costs in the Danish, Greenlandic and Faroese banks. 
The Danish Bankers Association is behind basalindlå The idea for the price portal originated from a meeting back in January between the then Business and Growth Minister Annette Vilhelmsen and the Danish Bankers Association. It was agreed that the Danish Bankers Association should ensure that banks from now on, on a comparable basis, are to provide information on what it costs to have access to a basic deposit account.
"I am delighted that the price portal has been completed and that so many Danish, Greenlandic and Faroese banks, savings and cooperative banks have chosen to be a part of it, even though it is voluntary," says Executive Director in the Danish Bankers Association, Susanne Dolberg.
In May, the European Commission published a price survey of fees for a basic deposit account in the 27 EU countries. The study showed that Danish banks were among the cheapest. Only banks in Belgium, Holland and Luxembourg had lower average fees. The Danes pay an average of approximately 375 million in annual account fee, while the figure, for comparison, is almost five times as high in Italy.
On basalindlå, consumers can find information on both set up costs and the annual costs associated with a basic deposit account. They can also see the price on the card type that various banks offer for the account. And finally, they can find prices for other services in the individual banks such as the price for cash handling and cash withdrawals in banks' ATMs.
"By this, consumers have a very simple and user-friendly option for finding prices on banks' most basic products," said Deputy Director, Susanne Dolberg.
Read more at www.basalindlå


Fact: What is a basic deposit account

It is an account where the customer can deposit and withdraw money, get wages or social benefits transferred to, and take the money out again. The account can also serve as a NemKonto.
It is entirely up to the banks to participate in
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