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Fees for Balance Inquiry and ATM Withdrawal in the Philippines

Fees for Balance Inquiry and ATM Withdrawal in the Philippines
"""Because customers do not have to personally visit the bank to withdraw money or check the balance of their account, automated teller machines, or ATMs, make banking simpler and more convenient. However, every cardholder ought to be aware that ATM cash withdrawals and balance inquiries frequently result in transaction fees. ,'_com-box-3','ezslot_4',183,,_('div-gpt-ad-_com-box-3-0');
Even if the transaction was made at an ATM operated by a different bank, the cardholder's bank used to set ATM transaction fees in the Philippines. All of that changed on April 7, 2021, when the Bangko Sentral ng Pilipinas (BSP) implemented the ""Acquirer-Based ATM Fee Charging"" model. In this model, owners of ATMs can set fees for transactions made by cardholders of other banks, but their own customers can use them for free.
For instance, BDO cardholders are entitled to free balance inquiries and withdrawals, while BPI and other bank cardholders are subject to a withdrawal fee of 18 and a balance inquiry fee of 2. ,'_com-medrectangle-3','ezslot_5',191,,_('div-gpt-ad-_com-medrectangle-3-0');
Customers will have more freedom to select ATMs with lower transaction fees thanks to the new ATM fee model, which is expected to foster competition among ATM operators. If their own bank's ATM is unavailable, customers can choose to transact there to take advantage of free withdrawals and balance inquiries, or they can look for an ATM with the lowest fees. The customer can decide whether or not to proceed with the transaction after seeing the associated fees and charges on the ATM terminal.
Through InstaPay and PESONet, customers can also make full use of digital banking services and other payment options like debit cards and online fund transfers to save money on transaction fees.
We have compiled a list of the ATM withdrawal and balance inquiry fees that are charged by various banks in the Philippines for your reference. If you want an ATM with the lowest fees possible, you can look at this list. 300,250],'_com-medrectangle-4','ezslot_6',192,,_('div-gpt-ad-_com-medrectangle-4-0');
The following is an up-to-date list of ATM withdrawal and balance inquiry fees charged by a number of commercial banks in the Philippines. Please note that only non-customers or cardholders of other banks are eligible for the listed transaction fees. Customers who use their own bank's ATM to conduct business will not be charged.
For instance, if you use your PNB card to make a withdrawal from a BPI ATM, you will be charged the BPI ATM withdrawal fee, which is 18 rupees. However, there will be no withdrawal fee if you use your PNB card at a PNB ATM.

ATM Owner/OperatorATM Withdrawal FeeBalance Inquiry FeeBank of Commerce182 BDO Unibank, Inc.182 Bank of the Philippine Islands (BPI)182 China Banking Corporation (Chinabank)162 Development Bank of the Philippines (DBP)152 East West Banking Corporation111 Land Bank of the Philippines101 Metropolitan Bank and Trust Company (Metrobank)182 Philippine Bank of Communications (PBCOM)
Keep in mind that your bank does not set ATM transaction fees. Instead, the owner or operator of the ATM sets them. Fees can change at any time without notice. '_com-box-4','ezslot_7',193,,_('div-gpt-ad-_com-box-4-0');
Click the image to enlarge it. Conclusion Now that you are aware of the ATM transaction fees charged by the various commercial banks in the Philippines, it is time to put this information to use. Using an ATM with the lowest transaction fees can help you save money on your withdrawals. Better yet, use the ATM at your own bank to make free withdrawals and check your balance." - https://www.affordablecebu.com/
 

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"Fees for Balance Inquiry and ATM Withdrawal in the Philippines" was written by Mary under the Technology category. It has been read 356 times and generated 1 comments. The article was created on and updated on 01 February 2023.
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