BPI, Metrobank to increase ATM fees

[oj88]

The fee is only applied when withdrawing your money from an ATM other than your own bank. I'm no expert but I think that there's already some sort of bank-to-bank transfer involved.

Also, the fee would self-police people from swarming into the only bank nearby to withdraw their money. Otherwise, kawawa naman yung branch at laging ubos pera ng ATM that would've otherwise served their own depositors. Only those who have an immediate need of the cash would then have to shoulder the fee.

[sirkosero]

Badtrip yan pag lagi offline ang atm ng banko mo. :thumbdown:

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metrobank ba tinutukoy mo dito bro? haha

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[Retz]

pag nag withdraw ka sa metrobank using other atm card and then na debit ka, mababalik pa ba ung Php15 sayo?

[xwangbu]

^ bayad ka daw 15 to get the fee back. :D

[Retz]

^

Sabi na nga ba sir.

[Mguy]

AFAIK, almost all banks will raise their fees. Na-highlight lang BPI and Metrobank dito. The increase is due to interconnection fees and the increased operating expense of ATMs.

[_Qwerty_]

iba iba lang dates.. yung sa UCPB.. effective Nov. 1 naman..

[Galactus]

Hehe, the banks are finally emulating the business model of financing companies, i.e., generating more income from other areas (fee-based income, service income, etc.) rather than the traditional bread-and-butter interest income.

Well, they're a little too late as financing companies have shifted to that paradigm years ago.

[vinj]

Badtrip yan pag lagi offline ang atm ng banko mo. :thumbdown:

True. And i know of at least one bank who profits well from their ATMs because they keep the network running efficiently and fast so they get a lot of interbank transactions.

Setting up and maintaining an ATM machine can cost over Php 1M so matagal din ang bawi neto if you look at it profit-wise.

[shadow]

BSP issues status quo na daw regarding this. So stop muna yan interbank connection additional charges.


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#retzing