BPI, Metrobank, and PSBank to raise ATM withdrawal fees to ₱15 for transactions done via other banks’ machines; Fee increase will be in ef
We’re guessing not everyone will be happy about this.
Maricel Burgonio of InterAksyon.com reports that BPI, Metrobank and PSBank will start charging their customers a higher rate of ₱15 starting this October for every withdrawal they do using the ATMs of other banks.
According to the report, "Metropolitan Bank and Trust Co. said its cardholders will be charged ₱15 when using other banks’ ATMs and ₱7.50 when using Philippine Savings Bank ATMs." Metrobank ATM cardholders, however, will not be charged anything if they use the bank's own ATM. The bank's latest advisory said the new fee structure would take effect on October 1.
The Bank of the Philippine Islands (BPI), meanwhile said in a separate advisory that it would start charging its ATM cardholders P15 per transaction starting October 22-up from ₱10-"when withdrawing through any of the ATMs of Bancnet, Expressnet and Megalink." The bank said the increase is necessary to enable it "to maintain its service standards even for transactions using other banks’ ATMs."
For more on this story, log on to InterAksyon.com.