The new legislative regulation for banking fees on cash withdrawals from ATMs is expected to take effect from August 11, following the amendment that was submitted and voted on Friday 25/07 by Parliament.
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ATM: What are the four main pillars provided
- Elimination of charges for cash withdrawals from bank ATMs.
- Abolition of charges in municipal communities where only one ATM operates, whether it belongs to a bank or a third-party provider.
- Setting a cap of 1.5 euros for withdrawals from third-party provider ATMs in other cases.
- Free balance inquiries and harmonization of providers with bank charges for transfers.
What applies to areas with only one ATM
Regarding transactions using ATMs for cash withdrawals from ATMs of companies or legal entities that operate ATMs, in municipal communities where there is only one ATM, this case now also applies to municipalities consisting only of municipal units.
The measure, with the changes noted, also applies to municipal units, as it was added: “This case also applies to municipalities consisting only of municipal units“.
In which cases is fee elimination provided
- Transactions using ATMs for cash withdrawals, operated by payment service providers using credit or debit cards issued by payment service providers that are members of the company “DIAS- Interbank Systems”.
This regulation eliminates fees when a cardholder with a card issued by a bank that is a member of DIAS (e.g., all systemic banks, CREDIA, Optima) makes a withdrawal from a bank’s ATM.
VIVA cardholders do not fall under this provision and are outside the regulation, just as foreign bank cardholders do not fall under this provision and are outside the regulation.
Regulation in cases where a bank and an ATM operator have a relationship
- Transactions using ATMs for cash withdrawals from ATMs operated by companies or legal entities, using credit or debit cards issued by payment service providers who participate directly or indirectly in the management or capital of the company or legal entity operating that specific ATM.
This regulation applies in cases where a bank and an ATM operator have a relationship. In this case, there is no charge for cash withdrawals.
What applies to business fees and charges
- The fees and all types of charges by companies or legal entities operating ATMs do not exceed, per transaction, the amount of 1.50 euros for cash withdrawals from ATMs using credit or debit cards issued by payment service providers.
This regulation sets a 1.5 euro cap for cash withdrawals from ATMs belonging to ATM operators, provided the card issuer and ATM operator have no relationship.
The pricing policy of foreign bank charges is followed without a cap.
