NBS will limit agents' prepaid fees for investment products

The central bank NBS will limit agents' prepaid fees for investment products, meaning clients’ funds will be invested from the first payment. The move responds to complaints from clients who received almost nothing back after prematurely canceling investment or insurance products after 2–3 years. Nearly the entire amount invested went toward fees, which vary based on the target amount for long-term savings. Agents and financial institutions will still be able to set fees at any level, whether one-off or ongoing. For ongoing fees, NBS expects that a proportionate part will be returned to the client in the event of early termination.

(forbes.sk, finsider.sk)