Monday, July 22, 2024
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acquirer-based fee charging

Hike in ATM deployment seen as new fee charging model takes effect

Under the acquirer-based fee charging (ABFC), which took effect on Wednesday, April 7, banks can set the ATM fees they want to charge on cardholders of other banks who use their machines.

New fee rules to help banks strengthen ATM networks

Starting April 7, the Acquirer-Based ATM Fee Charging (ABFC) model will take effect wherein the bank that owns the ATM will be the one charging the fee for each withdrawal or balance inquiry.

PH banks set to adopt acquirer-based ATM fee charging

With acquirer-based ATM fee charging, a bank can set ATM fees for non-customers, while continuing to offer free ATM withdrawal and balance inquiry services to its customers.
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