Council backs removing charges for ATM use

CEBU, Philippines - The Cebu City Council is supporting the move to ask President Benigno Simeon Aquino III and the Bangko Sentral ng Pilipinas to remove fees and other charges imposed by banks on transactions made through automated teller machines.

Councilor Alvin Dizon said though to some people the P5 charge for every ATM transaction is affordable, for those who are only receiving meager pay it is already a significant dent to their finances.

Dizon successfully convinced his fellow city legislators to support his resolution backing the move of Bacolod City Rep. Anthony Golez who sponsored House Resolution 3014.

He described the resolution as a social justice measure that would help alleviate the already difficult condition of minimum wage earners who have to bear the burden of the ATM fees and charges imposed on banks on those who use ATMs to get their salaries.

In his resolution in Congress, Golez said he observed that most working or employed Filipinos already use ATMs, including those who earn minimum wage.

It was observed that some banks impose fees or charges on ATM transactions, even on payroll accounts.

The Bangko Sentral ng Pilipinas has the authority over various banks and it has the power to make orders regarding the imposition of fees or charges on ATM transactions.  (FREEMAN)