Hike in ATM fees not automatic with lifting of moratorium —BSP

Automated teller machine (ATM) fees will not automatically increase even after the lifting of the moratorium on such, the Bangko Sentral ng Pilipinas (BSP) said Tuesday.

"I understand that the moratorium on fee adjustment was just finished. Pero hindi naman automatic na they can adjust," BSP Governor Benjamin Diokno told reporters on the sidelines of an event in Quezon City.

His remarks come after Makati City Representative Luis Campos Jr. called for a probe on what he claimed was the "looming increases" in ATM fees.

The BSP on July 19, 2019 released Memorandum 2019-020, which effectively lifted the moratorium on ATM fees imposed on September 27, 2013.

According to Diokno, the lifting of the moratorium came as the prescribed period for preventing any change in ATM fees has already lapsed.

"Wala kaming active move to stop (the moratorium), to authorize another arrangement. Basta natapos na lang 'yung period," he explained.

Diokno noted, however, that should banks decide to increase ATM fees, they will first have to seek the approval of the central bank to do so.

"Just in case, 'pag nag-propose sila ng adjustment, we will go through it, the BSP. 'Pag ka hindi namin gusto, we'll just tell them: 'Change the modality or something'," he explained.

For his part, BDO Unibank Inc. chief executive officer (CEO) Nestor Tan said the Sy-led lender is now looking into the possible adjustments.

"I don't what it is now, but there will be some adjustments. But we're working, I don't think it's going to be immediate," he said.

"The industry and the BSP are trying to see if we can have a process so that the consumer is not burdened with this pricing," added Tan. —NB, GMA News