Some customers are immediately upset when they find out that some banks will also increase their ATM transaction fees.
From April 7, the charge per withdrawal transaction will be P10 to P18, while the balance inquiry will be P1.50 to P2 if the terminal is not in your bank.
ATM transactions will remain free if your bank machine is used.
“Medyo mabigat na rin po lalo na ngayon pandemic po ngayon, crisis, so ‘yung P18 po ngayon puwede na pamasahe sa bus pauwi galing sa trabaho,” Camill Gomez said.
The Bankers Association of the Philippines defends that higher fees will help to expand and improve ATM services in the country.
But Laban Konsyumer insists, the increase in ATM fees is not appropriate because it is contrary to the cashless policy of this pandemic.
The group added that the banks have recovered their investment and expenses at the ATMs so there is no need to increase ATM transaction fees.
“In the absence of new technology and new infrastructure expenditures, banks have recovered their capital investments in the ATM facilities,” said Vic Dimagiba, president of the group.
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Consumers complain about increase in ATM transaction fees
Metropolitan Bank & Trust Co. (Metrobank) and its bank arm Philippine Savings Bank (PSBank) announced they would P18 fee per withdrawal and P2 per balance inquiry for non-Metrobank and PSBank cardholders using their ATM networks.
However, Metrobank debit or prepaid cardholders are still free of charge. PSBank cardholders would be charged a special rate of P7.50 per cash withdrawal on Metrobank ATMs.
Likewise, Metrobank cardholders using PSBank ATMs would get a special rate of P7.50 per withdrawal.
Meanwhile, BDO Unibank Inc. also urged its cardholders to utilize their over 4,000 ATMs as they also set to impose higher ATM transaction fees (cash withdrawal and balance inquiry) outside of their networks.
“We encourage BDO cardholders to use our 4,000 + BDO ATMs to continue to withdraw for free. Using your BDO card at non-BDO ATMs will incur fees which may vary depending on the bank,” BDO said in an advisory.