More banks to charge higher ATM fees

Banks are set to impose higher fees for ATM transactions done by non-bank clients using their networks starting April 7.

Under the new method, a cardholder would be charged for a withdrawal transaction or balance inquiry based on the fees of other banks or ATM owners.

This is a complete deviation from the current issuer-based method, wherein the fee is set and charged by the issuing bank and the amount charged to the cardholder remains the same regardless of who the ATM acquiring bank is.

Metrobank and its thrift bank arm PSBank are set to impose an 18-peso fee per withdrawal and two-peso per balance inquiry for non-Metrobank and PSBank cardholders using their ATM networks.

Philippine National Bank will impose a 15-peso fee for withdrawals by non-PNB cardholders.

BDO is set impose an 18-peso per ATM withdrawal and two-peso per balance inquiry done by non-BDO cardholders in its network.

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