Bank ATMs to implement varying interbank fees

Johanna O. Bajenting
·3 min read

SOME banks are set to impose higher ATM (automated teller machine) interbank fees as the Philippine banking industry will implement acquirer-based fees for ATM transactions effective April 7, 2021.

In an advisory, Ayala Group’s Bank of the Philippine Islands (BPI) said Acquirer-Based ATM Fee Charging (ABFC) is a charging model wherein the fees charged to a cardholder for a withdrawal transaction or balance inquiry will be based on the fees of the other banks or ATM owners.

At present, all banks are uniform in using the issuer-based system that asks for a P15 fee.

With the ABFC model, fees may vary from P10, P15 or P18 depending on the bank that owns the ATM machine.

All banks are required by Bangko Sentral ng Pilipinas to adopt the ABFC model.

BPI said if a non-BPI cardholder withdraws or does a balance inquiry on a BPI ATM, BPI will charge the non-BPI cardholder P2 for balance inquiry and P18 for cash withdrawal.

BPI clients can continue to use their BPI Debit cards on BPI ATMs at no cost.

The withdrawal fee shall be automatically added to the amount withdrawn. The balance inquiry fee will be shown as a separate debit amount which will be reflected in one’s Statement of Account on the day the transaction was made.

BDO does not charge its clients for using BDO-owned ATMs.

For non-BDO cardholders transacting at a BDO ATM, it charges P2 for balance inquiry and P11 for withdrawal.

Unionbank Philippines charges P2 and P12 for balance inquiry and withdrawal, respectively, for non-Unionbank clients.

For RCBC, the bank said it will no longer charge fees for withdrawal and inquiry transactions done at non-RCBC ATMs. New fees set by the owner of the ATM will apply.

It advised RCBC cardholders to check the fees set by the ATM before doing the transaction.

Development Bank of the Philippines (DBP) said if a non-DBP cardholder withdraws or does a balance inquiry at a DBP ATM, DBP will charge the non-DBP cardholder P2 for balance inquiry and P15 for cash withdrawal.

It remains free for their clients if they will transact in a DBP ATM.

Security Bank said its interbank ATM withdrawal fee will be P10 and P300 for Cirrus/Maestro and Interbank ATM balance inquiry fee will be at P1 and P60 for Cirrus/Maestro.

Ayin Visitacion, an illustrator, said the move will not affect her banking habits.

“This doesn’t really affect me since I always withdraw from my own bank’s ATM to avoid fees in general, but I can imagine the annoyance of a higher fee if you’re in an emergency and need to withdraw money from the nearest ATM,” she told SunStar Cebu.

Writer Rachel Rosal said she prefers transacting with her own bank as well to avoid the fees.

“It is okay with me if my bank ATM is far. I will go there to avoid fees and save as much as I can help it. If I ever withdraw from another ATM, it will be my last resort, perhaps in an emergency,” she said.