Advisory: BPI Debit Cards
The Philippine banking industry will implement acquirer-based fees for ATM transactions effective April 7, 2021.
BPI clients can continue using their BPI Debit cards at BPI ATMs free of charge.
Transaction fees may vary when using local non-BPI ATMs via BancNet. The withdrawal fee shall be automatically added to the amount withdrawn. The balance inquiry fee will be shown as a separate debit amount which will be reflected in your Statement of Account (SOA) on the day the transaction was made.
Implemented across the Philippine banking industry, Acquirer-Based ATM Fee Charging (ABFC) is a charging model wherein the fees charged to a cardholder for a withdrawal transaction or balance inquiry will be based on the fees of the other banks or ATM owners.
Bangko Sentral ng Pilipinas (BSP) adopted an acquirer-based charging model, as the ATM owners or banks play a significant role in maintaining their wide ATM network. These ATM owners are responsible for deployment and maintenance of terminals, cash servicing, ATM monitoring, among others. Costs are subject to approval of BSP.
Published on February 5, 2021
- BPI Debit Cards ABFC Advisory