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BDO to start charging Php2 for every ATM withdrawals

Upon learning of the news that BDO (Banco de Oro) will start charing Php2 for every ATM withdrawals in their network, I went to the nearest BDO ATM station to double-check.

Indeed, there was an announcement in the screen of the terminal that starting September 1, 2012, BDO will be charging 2 pesos on every withdrawals made by depositors of the very same bank.

Yugatech 728x90 Reno7 Series

Normally, charges are applied when there’s inter-bank or inter-network withdrawals. This time, BDO is charging its own customers for using its own network.

I tried taking photos of the terminal but the announcement was so quick, it could have been only displayed in a second or half a second. I made several transactions but the announcement would not come up again. I think they really made that announcement so obscure hoping that people will not notice.

After repeated attempts and not getting a screenshot, I withdrew all the money that I could from the ATM.

Update: We’re receiving additional reports on similar sightings in BDO ATMs that indicate the Php2 charge is only applicable to BDO Cash Cards. This will not affect the regular savings ATMs.

We’re getting additional verifications from folks from BDO.

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Avatar for Abe Olandres

Abe is the founder and Editor-in-Chief of YugaTech with over 20 years of experience in the technology industry. He is one of the pioneers of blogging in the country and considered by many as the Father of Tech Blogging in the Philippines. He is also a technology consultant, a tech columnist with several national publications, resource speaker and mentor/advisor to several start-up companies.

41 Responses

  1. Avatar for Ariel Ariel says:

    Any updates/confirmation from BDO on this? I think they are making a very big mistake. I for one will pull out all my accounts from them if ever.

  2. Avatar for UT-Man UT-Man says:

    I had bad experienced with BDO, service is pretty bad they let you stand on a line while waiting for your turn for bank transactions they do not have seats at their banks compared to other banks where you can seat until called. Bad for the elderly, it’s frustrating to stand waiting for your turn to withdraw or deposit your own money. They should add more ATMs to cope up with large number of clients.

  3. Avatar for tuwid na daan tuwid na daan says:

    how did bdo became that big, they used the funds of sss/gsis members to acquire a much bigger bank in equitable-pcibank, courtesy of the previous admin. laki cgro ng commission dun,

  4. Avatar for baskinificent baskinificent says:

    well, actually we all have different points of view here. lets just save and spend our money wisely. do not withdraw from time to time. t’will charge ya much. be wise. think twice.

  5. Avatar for Mongol Mongol says:

    UCPB wala ata charge yung cash card

    • Avatar for Kendra Kendra says:

      if there’s a fee in getting the card like in bpi express cash then the cash withrawal is free as far as i know…

  6. Avatar for Salma Salma says:

    Citibank and HSBC savings account (ATM) doesnt have any own-bank charge for withdrawal as well as no interbank charge for withdrawal sa ibang bangko (ATM machines)…

  7. Avatar for Rural Rural says:

    There should be a collective responsibility for employers who employs the bank to shoulder the additional fees for their employees (I’m talking about the prepaid ATM used for payroll here).

    Although I understand that maintaining ATM’s comes at a cost there should be regulations and an ample minimum preparatory period before implementation… which we do not have governing laws as of this moment (for those who didn’t yet know).

    Quoted from Bangko Sentral (bsp.gov.ph):

    “As a matter of policy, the BSP does not put a ceiling on the amount of fees or charges that banks may collect from their depositors and credit card clients. While banks as intermediaries of funds between savers and users, play an important role in economic development, they are also in business for profit. Thus, banks are given the liberty to impose certain charges. At the same time, however, these banks have the responsibility to keep their clients aware of bank charges to help them make informed decision on their banking transactions.”

  8. Avatar for jr jr says:

    I know of some banks that charge P5 for each ATM withdrawal, but only for those accounts with zero maintaining balance. But for their accounts with regular maintaining balance requirements they don’t charge ATM withdrawal fees.
    I’d rather wait for a detailed information from BDO before I decide to pull out my money from their bank.
    #firstworldproblems

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