Bancomat, the battle to change withdrawal fees

In the case of the direct access fee, the direct access feein fact, it is the bank that owns the ATM that establishes the amount of the commission to be charged to the customer who withdraws cash with the debit card of another institution. Although it provided for the quota of 1.50 euros as the maximum ceiling for the Dafthe Bancomat spa solution, according to the authority, would have restricted competition and raised pricesenabling customers to pay more.

The banks in favor of the rejected option will therefore have to look other solutions to cover branch management costs: about 90 cents per withdrawal, according to surveys carried out by the Bank of Italy.

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Consumer comment

For the National Consumer Union, the choice made by the Antitrust represents excellent news. “We said right away – says the president Massimiliano Dona – that the project was sheer madness and that it was going to be a clear abuse to the detriment of consumers. In fact, it was not understood under what title, with what modality and to what extent that levy was triggered, and how the consumer could possibly contest it, not having contractual relationships with the credit institution where the ATM is located”.

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ATM response

ATM has made it known that “while reserving the right to investigate the reasons for the provision, confirms the validity of the proposal – also supported and shared by many consumer category associations – which has as its primary objective that of maintaining the capillarity of the cash distribution network, guaranteeing citizens throughout the national territory simple and economic access to their savings by promoting a form of pricing clearer and more competitive”, so much so that the company is preparing to appeal the verdict.

For the company,”the essential feature of the new model is in fact that of allow the cardholder to interface directly with the bank that manages the ATM from which you intend to make withdrawals, check the rate applied and, if necessary, proceed with the operation by paying a commission directly to the bank that owns the ATM, without being burdened from additional fees applied by the bank that issued the card”.

For Bancomat today the service costs for the banks that manage the ATMs are higher than the profitability for each transaction. An aspect that adds up to the gradual closure of branches and their branches (about 600 per year). “According to the proposal – explains the company – the commission paid by the customer would in fact be collected directly by those who are then called to invest and bear the costs of managing the network, thus helping to reverse the trend of reduction and relocation of ATMs on the territory”.