Banks will no longer receive double commission charged to some users to use the ATM to withdraw cash. The most immediate effect is that, from now, card holders will not have to pay these fees to the entities cashiers but, on the contrary, can do to issuers of “plastic”.
And now there is also a ceiling: maximum amount which may not be exceeded. This article provides all the keys to understanding how to affect the double fee for withdrawing cash from ATMs.
End of the double fee for taking money!
The double commission from ATMs and may not be charged to users in any respect. As a result of the measure that has been approved by the Spanish government, the screen of the ATM also be informed of the maximum amount that may be charged to withdraw money.
But does this mean that there will not be paying any fee for cash withdrawal? Unfortunately not. The company owns the device the user can not collect it, but that issues the card and the end result may cargarsela customer.
The end of the double commission is a measure which, although it has already been approved, has a transition period that will last until January 2016, date on which the entities will have to tell the client what to do with this operation, if anotarsela or not, and under what amounts.
Either way, the banks this year have applied the double commission decided to eliminate its commercial strategy (Santander, BBVA and La Caixa). This will mean that from now on will be a greater unification of the criteria as a result of this government regulation.
In credit and debit cards
It now remains to understand what the differences will be taken into account to get cash, depending on whether one is used are credit card or debit card. Because, in fact, when the first one is used, it is contemplated that the issuing of “plastic” entity may charge an additional commission, which will be linked to the granting of credit, amount but not exceeding the amount so far applied bank owners of ATMs.
Holders of a debit card, however, will benefit most from this change in the pricing of bank charges. This is because cash withdrawals charged to account only passed on will be satisfied with the owner of the automatic device, the issuer shall commission, but in no case with other fee or additional expense.
How users will notice?
This model represents a substantial change from the old system, which was based on owners of ATMs were charged together 0.65 euros per operation. But, in the end, the customer paid more for their removal, because the card issuer would charge a second fee.
The main effect on the users of this payment method is the elimination of several commissions for the same service, avoiding duplication, but not set a limit for the same. As an alternative to pay less money for these operations, there will be recourse to seek an ATM of your own bank.
Commissions from ATMs
The disappearance of the double commission from ATMs not entail the cancellation of these fees, which are charged as was done until now on the cards. However, the amount will depend on the network to which belongs the cashier at which the transaction is formalized.
In this situation, it is advisable to avoid other outside the “plastic” user networks, as their commissions will always be higher, and if possible, use of the entity, which will enable it perform for free in the provisions debit.
Currently, there are three ATM networks: Euro 6000, 4B and ServiRed. In any of them, it is mandatory that they inform users of the commission and the costs of the operation before it is made, so it can be approved or not by the owner.
And, if developed at ATMs belonging to the issuer of the card will indicate the exact amount of the fee and expenses or if not, the maximum fee that may be charged the issuer of the card (the exact amount depends on I agreed in the contract between the client and the CA).