fee model for SINPE operates as follows:
■ A client originating a
transaction (sending client) pays their financial entity for the
transaction cost, consisting of the "SINPE fee" plus the "service fee"
(comisión por servicios), and the amount is negotiated between
such client and the entity.
■ The rate established by the
System of Payment Regulations is applied to every transaction, rather
than as a percentage of the transacted amount. However, because free
market competition applies, the entity providing the service may use
this method after negotiating with the client.
■ The fee established by an
entity for its clients covers all transaction
costs, and therefore, no other costs should be deducted afterward.
■ Fees charged by the entities
for the various SINPE services offered should be posted on the web
site, and such entities may charge a lesser or an equal amount than
those fees, depending on their relationship with each client.
■ The destination client must
receive the total amount of the funds. In other words, the receiving
entity should credit its client’s account the full amount of the
operation, and therefore it may not deduct or charge any fee.