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News and price increase for savers who want to withdraw cash through an ATM from a bank other than their own. Not only cost increases but, above all, uncertainty regarding the fees applied at the time of withdrawal, since the reform establishes that the total to be applied to the operation will no longer be determined by the bank itself but by the one to which the ATM used belongs. A study carried out by the European Central Bank would have found that 53% of Italian savers do not pay any commission on withdrawals made by ATM terminals, regardless of the credit institution to which they belong, while 35% would sometimes see these additional costs applied to the same transaction. There would even be 12% of Italians who are completely unaware of the fees charged by their banking institution, never having paid attention to them at the time of the contract.
To date, the largest number of banks tend not to apply rates for withdrawals with your clients’ ATM, or to keep costs very low. It often happens that the amount of the commission is strictly related to the amount withdrawn and is applicable only for small amounts of money. Now some lenders have decided to bear the burden of these fees anyway and therefore not charge any commission to customers who withdraw from other ATMs, while other banks will also charge up to 2 euros.
Therefore, Bancomat Spa presented the reform project directly to theAntitrust, which it wants to see clearly before giving the green light to the changes, planned for the end of 2021. The company talks about a solution designed to guarantee “Efficiency of the service and more transparent remuneration for users”, although it is clear and obvious that it will be precisely the savers who will be affected, not knowing what fee will be applied at the time of withdrawal at an ATM remittable to another banking institution. In the text submitted to Antitrust, Spa ATM wanted to specify that it is a reform necessary to“The increase in costs incurred by banks in managing ATMs, linked to the technological evolution of such equipment and the greater risks associated with fraudulent initiatives. Costs that in many cases would be higher than the amount of the exchange rate ”. ATM talks about the “Substitution of exchange rates with the application to the cardholder of a possible commission defined autonomously by each bank that owns the ATM and therefore provides the withdrawal service through its own team. This commission would be disclosed to the cardholder of the card before authorization for the withdrawal operation “. Obviously, since a bank will have to define the withdrawal costs of its ATMs by non-customers, there is no reason that could push them to comply with these users with discounted rates. This will likely be the focal point of Antitrust’s analysis of conditions on possible price increases.
