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Pricing of Banking Services: More Clarity Please

by Jérôme Cavaliero, Head of Cash Management France, UniCredit CIB France

Is anything more important than confidence in the relationships between a company and its bank?

It is the responsibility of bankers to provide their customers with clarity in all points: services they can deliver, implementation deadlines… and obviously pricing. Unfortunately in the payments and cash management domain, this has not always been the case. This has to change as hidden costs lead to complaints from customers even after the most detailed tenders, and to wrong assessments of competitiveness of banking offers (distortion of concurrence).

Indeed, there are many items which are more or less hidden and represent a cost for customers even if they are not an actual direct fee. These include:

  • transaction fees;
  • booking fees;
  • percentage on debited amount;
  • floats;
  • value dates;
    …and more.

In reality, how could a foreign company be expected to know about the Austrian Manipulationsgebühr fee or the float on the French Titre Interbancaire de Paiement?