Cheat sheet: Here's how much different banks will hike ATM fees by April 7
The fees for using the automated teller machines of banks where you are not a cardholder of are set to go up by April 7.
The change is in keeping with a policy change by the Bangko Sentral ng Pilipinas that lifted the moratorium of ATM fees with the aim of inducing more market competition among banks to lower rates.
The new method is called acquirer-based charging, which marks a departure from the issuer-based method where fees are set by the bank issuing the card.
Rates differ across banks, but fees are set to go up by about P3 from the previous set-up.
Here are some of the new rates as announced by the banks themselves.
| New ATM fees effective April 7 | ||
| Balance inquiry | Withdrawal | |
| BDO | P2 | P18 |
| BPI | P2 | P18 |
| Metrobank or PSBank | P2 | P18 |
| Metrobank card on PSBank ATMs (and vice versa) | Free | P7.50 |
| UnionBank | P2 | P12 |
| PNB | P2 | P15 |
| DBP | P2 | P15 |
| UCPB | P2 | P15 |
| Security Bank for Cirrus/Maestro | P60 | P300 |
(Banner and thumbnail photo from The Philippine Star file)