Aug 19, 2019 RAISING ATM SERVICE FEE WILL FURTHER IMPOVERISH ALREADY POOR FILIPINOS
Millions of Filipino workers and 4Ps beneficiaries will be affected
Labor groups led by the National Congress of Unions in the Sugar Industry of the Philippines (NACUSIP) and its allied organizations opposes plans of the Banko Sentral ng Pilipinas (BSP) to increase the ATM charges after the cap on such fee was lifted after the end of the 6 year moratorium.
NACUSIP President Roland de la Cruz calls on BSP to exercise prudence in deliberating the ATM fee increase and make the deliberations open to the public in order for ATM users to participate.
“The increase from P10.00-15.00 to P30.00 per withdrawal is not only arbitrary and confiscatory but it will further impoverish already poor Filipinos. There are more than 4 million 4Ps beneficiaries who are ATM card holders and more minimum wage earners received their wages thru the ATM cards provided by their employers. Increasing the existing ATM fees will rob them of almost 10% of their daily wage”, de la Cruz further claimed.
“Intra-bank withdrawals in most bank are free but in the case of 4Ps beneficiaries, there are no Landbank branches in all towns in the country, 4Ps beneficiaries will either have to withdraw from other banks where they will be charged inter-bank ATM fees or they will have to travel to where Landbank ATMs are located, increasing risk and cost of receiving their benefits.
ATM charges should be free as this is an added service for their customers whose money is being used by the banks in order to further their business” de la Cruz added. END. Contact Person – Roland C. de la Cruz National President NACUSIP Mobile: 09209797784; Email: email@example.com