BDO to charge Depositors Php2 for every ATM withdrawal

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Beginning 2nd day of September, BDO will start charging its depositors 2 pesos for every successful ATM withdrawal, anywhere in the BDO terminal.

This was according to the advisory being flashed on the bank’s ATM terminal during the 4 non-working holiday. This is the first time that I’ve heard such announcement from a bank regarding its charging fee. And it’s just worth knowing because if you’re having frequent transactions with ATM machines, collected 2-pesos per transaction is considered high enough!

This is apart from the existing fees the bank charges to its depositors such as 2 pesos for balance inquiry at the ATMs of other banks, 11 pesos for withdrawal at the ATMs of other banks, US$ 1.00 balance inquiry fee at MasterCard Cirrus and Visa Plus ATMs and US$ 3.50 withdrawal fee at MasterCard Cirrus and Visa Plus ATMs.

BDO users were mixed (some went into rage) upon learning the news in Interaksyon’s portal. Some even said they’ll start withdrawing money and close their account on BDO.

“starting closing may accountsss on BDO , almost 10yrs na yun account ko sa knila , until now wala pang credit card , inientertain ka lang nila if magloloan ka ng kotse or bahay (1m and up), pero pag business , pahirapan…
planning to open a new account sa BPI kasi pwede daw magloan doon ng business loan , na walang masyadong pahirapan.” — Carl Sayson

“ok sana yan kung ung interest na binibigay nyo sa mga depositor e malaki, ginagamit nyo na ung pera namin e kayo pa tutubo ng malaki..” — Tomaneng Christian

“DI KAYA SOBRANG PANG IIPIT NA ITO SA MGA TAO? DI NAMAN KAYO MALAKI MAGBIGAY NG INTEREST PAG GINAGAMIT NINYO PERA NAMIN..” — Juan Carlos

“BDO Atm charge P12 if not their depositor, tapos ngayon they will charge P2 sa depositors nila.. sobra naman sila kumita!!!” — Benjamin Baltazar

“ok ilipat ko na ang pera ko na nakadeposit sa tatlong BDO bank sa manila dun sa metrobank, pnb, rcbc at BPI.” — Jilljack Camacho

Victor Agustin in his article assumed that with the 2-peso charge multiplied by 2 withdrawals a month could be  potentially translate to P48 million a month in extra income for the banks.

Recent report from Abiel who failed to capture a photo of the BDO ATM’s announcement indicates that the 2-peso charge is only applicable to BDO Cash Cards and not on the regular savings ATM. Yuga is still on confirmation to some BDO folks regarding the news.

We will also update this post once all the reports have been verified for clarification. Stay tuned.

Last modified: August 20, 2012

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