Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City

FIFTEENTH CONGRESS
First Regular Session

HOUSE BILL No. _93

Introduced by Rep. TEDDY A. CASINO

EXPLANATORY NOTE

‘This bill seeks to provide for a standard rate of transaction fees and charges on automated
teller machines (ATMs) and require the posting of a notice of said fees and charges on ATMS
screens and monitors prior to the completion of any transaction.

The advent of ATM banking has allowed bank account holders to access their accounts any
time of the day or night. However, this convenience does not come without a price. Banks
offering ATM services impose fees and charges, normally to ATM users who are non.
depositors of their bank, for each transaction successfully made. ‘The amount of fees and
charges varies from one bank to another depending on the type of transaction made,

With different ATM transaction fees and charges, ATM users often get confused as to the
remaining balance of their bank accounts after making a transaction or scrics of transactions
Worse, some ATM users are not informed of the fee or charge imposed or automatically
deducted ftom their bank account. This often results in agitation from unwary ATM users
when they belatedly find out about these prohibited fees and charges.

Banks with A’'TM facilities should therefore serve the public and spare them from unnecessary
trouble or anxiety by imposing a standard rate of ATM transaction fees and charges. Likewise,
banks should be required to post a notice of these transaction fees and charges on their ATMs
sercens or monitors prior to the completion of any transaction in order to adequately inform
and protect ATM users against any hidden fees or charges.

In view of the foregoing, passage of this bill is carnestly sought.

Appron

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TEDDY A. CASINO:

Bayan Muna Party-list


Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City

FIFTEENTH CONGRESS
‘rst Regular Session

HOUSE BILL No. _ $343

Introduced by Rep. TEDDY A. CASINO

AN ACT
PROVIDING FOR A STANDARD RATE OF FEES AND CHARGES FOR
AUTOMATED TELLER MACHINE (ATM) TRANSACTIONS AND FOR OTHER
PURPOSES

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assentblecs

SECTION L. Short Title This Act shall be known as the “ATM Standard Fee Act?”
SECTION 2. Declaration of Policy — It is the policy of the State to promote the general welfare
of the people. Pursuant to this policy, this Act seeks to set a standard rate of fees and charges for
automated teller machine (ATM) transactions and require banks to post these fees and charges on
their automated teller machines.

SECTION 3. Standard Transaction Fees ~ All banks operating and providing automated teller
machine services shall, within two (2) months from the effectivity of this Act, charge a standard
sate of transaction fees for members and non-members alike.

For purposes of this Act, “transaction” shall include, but not limited to, balance inquiry, deposit,
withdrawal or fund transfer.

Banks are likewise required to disclose the amount of fees they charge and collect from ATM
users for every transaction. The fees shall be conspicuously posted on the screens of automated
teller machines prior to the completion of any transaction.

SECTION 4. Penalties ~ Any director, officer ot agent of the bank who will violate this Act
shall, upon conviction, be punished with a fine of not less than Twenty thousand pesos
(P20,000.00) but not more than Fifty thousand pesos (P 50,000.00) or imprisonment of not less
than two (2) months but not more than one (1) yeat, or both, upon the discretion of the court

SECTION 5. Implementing Rules and Regulations ~ ‘The Bangko Sentral ag Pilipinas shall,
within sixty (60) days from the effectivity of this Act, issue rules and regulations as may be
necessary to effectively carry out the provisions of this Act.


SECTION 6. Repealing Clause ~ All laws, decrees, executive ordets, rules or regulations and
other issuances, or parts thereof, which are inconsistent with the provisions of this Act, are hereby
repealed or amended accordingly.

SECTION 7. Effectivity ~ This Act shall take effect fifteen days (15) days after publication in
the Official Gazette or in two (2) national newspapers of general circulation,

Approved,