BSP urged to remove fees on ATM transactions

MANILA, Philippines - An administration lawmaker urged Malacañang and the Bangko Sentral ng Pilipinas (BSP) yesterday to remove fees and other charges imposed by banks on transactions made through automated teller machines (ATMs), especially on accounts of employees earning minimum wage.

Bacolod City Rep. Anthony Golez filed House Resolution 3014 urging President Aquino and the BSP to promulgate rules and regulations on the imposition of ATM fees.

“Most working or employed Filipinos already use ATMs but foremost in mind when I filed House Resolution No. 3014 are the workers or employees who earn minimum wage and get their salaries through ATMs,” Golez said.

“Some banks impose fees or charges on ATM transactions, even on payroll accounts. Though to some people, ATM fees or charges are negligible, but for those who receive meager salaries, these make a significant dent on their finances.”

He said since banks already benefit from the deposits they get from ATM accounts, they should not be allowed to impose fees or charges, or the BSP should at least regulate or set a limit on the amount of charges being imposed on ATM usage.                                  

“The BSP has authority over banks and the power to make an issuance regarding the imposition of fees or charges on ATM transactions,” Golez said.

The lawmaker said filing a bill on the matter would be untimely because Congress is already winding up.

“I hope he (Aquino) endorses the matter to the BSP and asks appropriate offices to take action. I hope something happens with this proposal, this is a great help for Filipinos.” 

He said the “meteoric” growth rate achieved by the administration for 2012 could be complemented with the proposal.

“If fees or charges on ATM transactions are removed, this will automatically mean additional money to spend,” Golez said.