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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Continuing commissions even if the card is not used.. Baghdad Council calls for “monitoring Sweeg”

    Rocky
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    Continuing commissions even if the card is not used.. Baghdad Council calls for “monitoring Sweeg” Empty Continuing commissions even if the card is not used.. Baghdad Council calls for “monitoring Sweeg”

    Post by Rocky Thu 20 Jun 2024, 4:18 am

    [size=35][size=35]Continuing commissions even if the card is not used.. Baghdad Council calls for “monitoring Sweeg”[/size]
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    Economy

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    2024-06-20 | 04:15
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    Al-Sumaria News - Economy

    A member of the Baghdad Provincial Council, Ahmed Mohsen, stressed today, Thursday, the need for the Central Bank to follow up on the work of the “Swig” company for electronic payment cards, with increasing complaints about the presence of large commissions deducted by the company, as well as the difference in the dollar exchange rate when transferring.


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    Mohsen said in an interview with Al-Sumaria News, “One of the most prominent problems with Sweeg is the poor service, in addition to the commission rate, which is considered very high and does not match the service it provides.”

    Regarding the difference in the dollar and the transfer cost due to commissions, he explained that “this problem is solved in the hands of the Central Bank, as it has the legal authority to determine the transfer commission rate,” indicating that “there is a hypothesis of mutual benefit between the company and the agencies concerned with monitoring it, and the simple citizen pays its price.”



    He stressed the necessity of "following up the work of Swig Company by the Central Bank, as well as determining the percentage of transfer operations in proportion to the size of the amounts being transferred, as it is not possible to take the commission percentage from the citizen at levels equal to investment companies."

    Data related to the company show strange numbers for the commissions and fees it deducts. For example, the company deducts a minimum of 1,500 dinars, or 1.5%, or 15,000 dinars out of every million, just for filling up a card. It also deducts 1,000 dinars only for inquiring about the card balance at the ATM. Automatic, in addition to deducting a thousand dinars as a “card management” commission only if the citizen does not use it for 30 days.

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      Current date/time is Mon 15 Jul 2024, 4:11 pm