7 banks to hike ATM fees
MANILA, Philippines - The country’s top banks – Banco de Oro, Metropolitan Bank and Trust Co. and Bank of Philippine Islands are increasing their automated teller machines (ATMs) charges starting next month to P15 from the present P10 per transaction.
BDO, in an advisory, said BDO ATM debit and cash cardholders withdrawing through any of the ATMs of BancNet, ExpressNet and MegaLink would be charged a fee of P15 per transaction effective Nov. 4, 2013.
The change in withdrawal fee from P11 to P15, BDO said, is an industry-wide development to basically cover the cost of operating the ATMs.
Meanwhile, BDO said their cardholders would not be charged with any fee if withdrawal transactions are done through any of the over 2,000 BDO ATMs nationwide.
Ty-led Metrobank, on the other hand, said effective Oct. 1, Metrobank cardholders would be charged P15 fee for the use of other bank’s ATMs; while PSBank, its subsidiary, would charge P7.50 per transaction. Using Metrobank ATMs, meanwhile, would be free of charge.
As of end-June 2013, Metrobank maintains about 1,822 ATMs nationwide.
BPI, for its part, had already increased its fees for withdrawals using BancNet, Expressnet, and MegaLink ATMs to P15 since Oct. 22, 2012. ATM withdrawal fee in BPI ATMs would still be free.
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