Charges for transactions from one bank to another set to drop
[SHUTTERSTOCK]
The long-awaited decision of the Competition Commission for banks is expected to bring a reduction in the charges that are incurred when withdrawing cash from an ATM of a different bank to the client’s.
Although the reductions will not be horizontal, it is estimated that they will bring about some relief in said charges, in the order of 25-30%.
This practically means that the total charge a consumer will have when they withdraw money from an ATM of a bank other than that in which they have their account, which currently ranges from 2.60 to 3.75 euros, depending on the issuing bank card and the bank to which the ATM belongs, will drop below €3.
