BDO denies P2 charge per ATM withdrawal

BDO Unibank Inc. on Monday denied a report that it will charge P2 for all ATM withdrawals starting next month.

According to ABS-CBN News, BDO clarified that only ATM withdrawals using cash cards or BDO pre-paid cards will be charged starting September 1. The policy change will not affect bank customers who are holding regular savings account.

“The P2 fee will only be effective on withdrawals of clients using cash cards (or BDO prepaid cards), similar to what other industry players are implementing. This is to partially recover our cost on cash handling. BDO account holders are not affected by this development,” BDO’s cash management services head Jaime Nasol reportedly said in a statement.

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A BDO Cash Card is a re-loadable prepaid electronic debit card which is similar to Smart Money and the BPI Express Cash card, the report said.

The report titled “BDO imposes P2 fee for every depositor’s ATM withdrawal” was published on TV5’s website, Interaksyon.
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