The Central Bank of Paraguay (BCP) has reaffirmed that simple transfers between bank accounts, including person-to-person transactions, will remain free of charge. The confirmation was provided to clarify new regulations that establish maximum fee limits for specific services of the Paraguayan Payments System (Sipap).
The regulatory body explained that the free service is guaranteed by Law No. 7503 and that the new limits apply only to payment services provided to commercial establishments. The objective of the measure is not to set prices, but rather to organize and standardize fee concepts, ensuring transparency and comparability in the amounts charged.
The services affected by the caps include direct debits, payment initiation (such as those made via QR SIP), payment requests, and the sponsored participant service, which allows cooperatives to access Sipap through a bank. For the first three, the maximum fee is 1.5% of the transaction value, including VAT. For the sponsor service, the limit is 1% with a maximum value of G. 5,500.
The rule also extends to payments initiated by QR, NFC, or other technologies that use private infrastructures, subjecting them to the same 1.5% cap. The measure aims to create equal conditions for comparable services and foster a competitive environment, benefiting both merchants and end users.