Thursday, September 28, 2023

Which ATM charges the highest commission for withdrawals to another bank?

The commission is usually different for each bank. Here we provide detailed information about the costs

If you plan to withdraw cash during these holidays, a ATM The Commission National to protect and defend users of financial services (Drive) advises you to be careful with your spending as certain ATMs from banks other than the bank card you currently have charge fees, whether for cash withdrawals or balance inquiries.

It is important to mention that due to the use of ATMs, the commission amounts of banking institutions apply, but this largely depends on the location and industry in which they are installed.

For example, ATMs in supermarkets, shopping malls, airports, bus stations, convenience stores, pharmacies and gas stations generally charge a fee. Commission larger than those installed in bank branches.

According to data from the Bank of Mexico in August, Santander charges a Commission higher for cash withdrawals if the card is not from that bank, which incurs a fee of 27 pesos plus VAT.

Drive recommends that you take the following measures when withdrawing cash from ATMs.

· Plan your cash needs and withdraw the appropriate amount.

· Make sure there are no foreign objects or foreign items installed in the card reader slot.

· Cover the keypad with your hand when entering your PIN.

· Avoid using your card (credit or debit card) in places of dubious reputation.

· Avoid using ATMs in dark and uncrowded places, especially at night.

· To avoid paying commissions, it is preferable to use ATMs located in the branches of your issuing bank.

· If you use an ATM other than your bank’s ATM, remember that the commissions must be displayed on the screen so that the user can decide whether he agrees to continue the operation.

· Keep your receipts so that you can check the transactions listed in your bank statement and identify any irregularities in good time.

Nation World News Desk
Nation World News Desk
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