News

Filipino banks may be forced to display surcharge fees on ATM screens

February 15, 2005

ABS-CBN News: The Bangko Sentral in the Philippine Islands is considering requiring banks to display on screen what ATM users will pay for cash withdrawals at machines not owned by their financial institutions.

Currently banks must post rates near their ATMs, not on their screens.

"That [matrix of charges] should be the first thing that will come out on the ATM screen so that the guy withdrawing knows about it," said Bangko Sentral Governor Rafael Buenaventura.

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