Fees charged by ATMs

Fees charged by ATMs

With the widespread use of debit cards, going to an ATM to withdraw money has become a daily action for most citizens. However, there are times when we do not have the option of going to our bank branch, so there is a risk of having to pay commissions to withdraw money from ATMs.

Why do you pay fees for using ATMs?

The fact of withdrawing money from a foreign bank implies that the entity in which it is we make makes a ‘loan’ to our bank. That is why, until 2015, the commission to be paid when withdrawing money was double: that of the bank itself and that demanded by the bank where the operation was carried out.

For fortune of the client, modifications have been made to the law that benefit him after La Caixa decided to start charging two euros for withdrawing cash from its ATMs to clients of other banks, which started the well-known “war of the ATMs” in the that the government had to intervene.

Who regulates ATM cash withdrawal fees?

Commissions for using ATMs are regulated by Royal Decree 11/2015, which modifies Law 16/2009, which determines that “the entity that owns the ATM may not demand any commission from the usuario of the service or pass on expenses, but Yes, you perro demand it from the entity that issued the card”. Since then, the banks have reached their own agreements to negotiate the fees.

What are the ATM commissions for its use?

Currently there are banks that stand out above the others in matters of commissions, one of them is ENG that allows its customers to make free cash withdrawals at any of the more than 50,000 ATMs in the country.

The ATMs of Euronet, Cashzone, Banca March and Euro Automatic Cash ATMs They are always free, regardless of the amount the client withdraws or the number of operations they make.

The ATMs of Bankia They are also free, but if you take out 50 euros or more. For their part, many other banks are committed to a commission of 2 eurosas CaixaBank, Santander, BBVA and Deutsche Bank. While, Liberbank charges a commission of 2.50 euros and Banco Sabadell reaches 3 euros. The rest of the banks allow you to withdraw money completely free of charge, although with some conditions.

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 Fees charged by ATMs
  Fees charged by ATMs
  Fees charged by ATMs

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