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BDO's P2 Withdrawal Fee Draw Public Ire

Starting September 1, it will cost a BDO depositor P2 every time he/she withdraws his/her own money from any BDO terminal.

The new fee advisory was being flashed on the bank's 1,596 ATM-network as each terminal dispensed wads of cash for the duration of the four-day weekend.

The country's biggest bank, BDO is the first local bank to reintroduce the unpopular fee since the industry recoiled amid a storm of consumer protest more than a decade ago.

Since then, local banks, no matter the size, have always exempted their own depositors from any ATM fee so long as the withdrawal is made from the depositor's own bank ATM network.

But withdrawals made on other bank's ATMs are hit with P10-11 fee for every transaction.
Individual banks do not normally publish their depositor base or the number of transactions that their own home networks process each day. [Source]



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