Jump to content

New ATM surcharge.


Jess Bartone

Recommended Posts

The only ATM I have seen recently that does not have a 150 peso surcharge for using a foreign issued ATM card is BPI. In the U.S. this is common practice if you withdraw money from another bank"s ATM. I think Bank of America started the trend. Only relief is to make the largest withdrawals possible and minimize the number of withdrawals. My personal feelings about Bank of America can't be posted on a family forum.

 

I think Cary got it right when he said 'Kano' tax as in it is not a foreign card tax but related to a US bank charge. I have NEVER been charged one Centavo in 4 years for using an ATM here using my British Visa Debit card.

 

I, or my wife, have been using Australian ATM cards in the Philippines for three years+, and never copped this new surcharge ("tax") before, which commenced March 20 2010 (as was posted). The international ATM system (Cirrus/Maestro) is owned by Visa (can anyone confirm this?), so I'm not surprised a Visa debit card attracts no fees. But I'm sure the card does attract some monthly fees.

 

These ATM fees, fees for using a foreign card are now going worldwide, Chile, Thailand, Argentina and now Philippines are charging them.

 

That's true ........ visa system is notorious for charging foreign withdrawals in ATM cards. Your bank could probably be not just a visa card issuer but also a Link network member and would also carry the link logo as well as the visa logo. In the early days Link networked members doesn't charge atm withdrawals. But bank card issuers who are also link network members had been fighting the right to charge ATM withdrawals. And they are increasing in numbers. But most building societies link member doesn't charge for atm withdrawals for ATM cards that are issued by other banks/societies as long as they carry the link logo.

 

However, foreign banks whether a member of the Link Network or not charge for ATM withdrawals but not as high as visa. So, I was rather pleased to read that you are not charged in PI (ATM withdrawals) as Europe-outside UK does.

 

Jesse does MG have Philippine bank account?! Why not try this site, if its any use to you. Its cheaper sending the money online where you pay a flat fee and MG can collect it in her PI bank account either thru personal withdrawal or using ATM cards (PI issued card). I haven't use this myself so I cannot really vouch this. I used PNB but as I think there is no PNB-Australia yet. But most Australian OFW use this site instead. They seems to have a good exchange rate too ..........

 

http://www.pesoepadala.com/index.php

 

You are correct in that my card is in fact part of the LINK network but I believe that only applies to UK ATM's. With the exception of the new BDO (guess who wont use theirs anymore) charge, I pay zero extra on RP bank ATM's. My ONLY cost is 1% on all transactions by Visa, whether payment or ATM. This is charged by a reduction on the exchange rate ie P70 I would get a little over P69

 

Uzi

Link to post
Share on other sites
  • Replies 34
  • Created
  • Last Reply

Top Posters In This Topic

  • Jess Bartone

    5

  • UZI

    4

  • lazydays

    3

  • CardiacKid

    2

Top Posters In This Topic

Popular Posts

And it's the local banks that do it!   China Bank seems to have a lot of branches in the Philippines - http://www.chinabank.ph/personal/

Athena

 

You are correct in that my card is in fact part of the LINK network but I believe that only applies to UK ATM's. With the exception of the new BDO (guess who wont use theirs anymore) charge, I pay zero extra on RP bank ATM's. My ONLY cost is 1% on all transactions by Visa, whether payment or ATM. This is charged by a reduction on the exchange rate ie P70 I would get a little over P69

 

Uzi

 

The Link network also has an affiliated foreign network/bank. Check with your Link card issuer of its foreign affiliated network and/or logo so you can either get free of charge ATM withdrawals or a small fee per withdrawals. Mind you, in europe-outside UK, I have yet to see an affiliated Link network that is free of charge. Small fee - yes, free of charge -NO!

 

 

The Link networks stated aim in the early days is for free atm withdrawals. I guess they were not successful in fighting the foreign banks to stop charging ATM withdrawals. As even in UK there is a strong opposition of these from banks and other networks

Link to post
Share on other sites
Jess Bartone

......

Jesse does MG have Philippine bank account?! Why not try this site, if its any use to you. Its cheaper sending the money online where you pay a flat fee and MG can collect it in her PI bank account either thru personal withdrawal or using ATM cards (PI issued card). I haven't use this myself so I cannot really vouch this. I used PNB but as I think there is no PNB-Australia yet. But most Australian OFW use this site instead. They seems to have a good exchange rate too ..........

 

http://www.pesoepadala.com/index.php

 

Thanks for this Elinel. MG has an account with Land Bank of the Philippines. We're hoping she'll be here soon, but we can use this to send Mama some allowance.

Link to post
Share on other sites

You are correct in that my card is in fact part of the LINK network but I believe that only applies to UK ATM's. With the exception of the new BDO (guess who wont use theirs anymore) charge, I pay zero extra on RP bank ATM's. My ONLY cost is 1% on all transactions by Visa, whether payment or ATM. This is charged by a reduction on the exchange rate ie P70 I would get a little over P69

 

Uzi

 

The Link network also has an affiliated foreign network/bank. Check with your Link card issuer of its foreign affiliated network and/or logo so you can either get free of charge ATM withdrawals or a small fee per withdrawals. Mind you, in europe-outside UK, I have yet to see an affiliated Link network that is free of charge. Small fee - yes, free of charge -NO!

 

 

The Link networks stated aim in the early days is for free atm withdrawals. I guess they were not successful in fighting the foreign banks to stop charging ATM withdrawals. As even in UK there is a strong opposition of these from banks and other networks

 

The Link Network states:

 

LINK members have cash machines in France, the Channel Islands, the Isle of Man and Gibraltar, as well as throughout the United Kingdom.

 

No mention of other international use especially RP. I don't think it is anything to do with Link as I use Metrobank, BPI, BDO (until their new charge on ALL foreign cards) & any other using the BANCNET network. Never been charged.

 

Uzi

Link to post
Share on other sites

Wow my SS checks come here to BDO cost three US dollars a month ,and u only need $100 to open a savings actt the one that starts with a K and you need only a zero balance after it is open and your checks are already comming each month best deal i have found. good luck!!!

Link to post
Share on other sites
Guest
This topic is now closed to further replies.

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use, Privacy Policy and Guidelines. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue..

Capture.JPG

I Understand...