Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City

SIXTEENTH CONGRESS
First Regular Session

2105

HOUSE BILL No.

Introduced by BAYAN MUNA
Reps. CARLOS ISAGANI T. ZARATE and NERI J. COLMENARES

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

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 A'TMs’ 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 theit bank accounts after making a transaction or series of transactions.
Worse, some ATM usets ate not informed of the fee or charge imposed or automatically deducted
from 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 ATM 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’
screens of 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 eamestly sought.

Approved,

Rep: one Keereny ZARATE

Bayan Muna Party-list



Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City

SIXTEENTH CONGRESS
First Regular Session

HOUSE BILL No. _2105

Introduced by BAYAN MUNA
Reps. CARLOS ISAGANI T. ZARATE and NERI J. COLMENARES

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 assembled
SECTION 1. Short Title -'This Act shall be known as the “ATM Standard Fee Act.”

SECTION 2. Declaration of Poligy ~ tis the policy of the State to promote the general welfare
of the people, Pursuant to this policy, this Act secks 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 ~ Ail banks operating and providing automated teller
machine services shall, within two (2) months from the effectivity of this Act, charge a standard
rate 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 sctcens of automated teller
machines prior to the completion of any transaction.

SECTION 4. Penalties — Any director, officer or 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 nor more than Fifty thousand pesos (P 50,000.00) of imprisonment of not less
than two (2) months but not more than one (1) yeas, or both, upon the discretion of the court.

SECTION 5. Implementing Rules and Regulations — The Bangko Sentral ng 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 orders, rules or regulations and
other issuances, or parts thereof, which are inconsistent with the provisions of this Act, are hereby
2


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,