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Bancomat Spa presented a project to reform the remuneration system for the cash withdrawal service that could lead to increased costs for users. The decision is in the hands of the Defense of Competition that must give the green light to the request.
2021 could start badly for Italian savers. Everything is in the hands ofAntitrust who must decide on the project to reform the remuneration system of cash withdrawal service presented by Spa ATM. If the approval of the Authority arrives, the effects for savers could be a cost increase me uncertainty about fees applied.
Most banks nowadays offer the possibility of making withdrawals for free (or at low and certain costs) with the ATM on the counters ATM from other institutes. In some cases, the commission paid depends on the sum withdrawn and is present only for small amounts.
This mechanism that works and is satisfactory to users is not good at Spa ATM, a company that manages ATM and that is controlled by 125 subjects with in the head Understanding (25%) e Unicredit (19%).
The proposed reform provides that your bank will no longer contractually fix the withdrawal cost but the institute ATM owner.
As reported by the Sole 24 Mineral, Spa ATM He would have justified the request by speaking of “efficiency of the service and a more transparent remuneration for users.”
Curious reasons given that the reform, if applied, could have exactly the opposite effects. First, the user would no longer have the certainty of commissions to be paid, since these would no longer depend on your bank but on individuals ATM used. Costs that the saver can only know when preparing to withdraw cash.
Second, logical reasoning leads to predicting a rate increase compared to those that are paid today. As the Sole 24 Mineral “What reason could induce a bank to apply lower costs to people who are not its customers?”
The hope (for savers) is that it’s theAntitrust prevent reform by rejecting the request for Spa ATM. However, this scenario is unlikely because it is clear that a true crusade against the cash. With the good (cashback) or with the bad (increased withdrawal fees at ATMs) for Italians it will be less and less convenient to pay cash compared to using electronic payment cards.
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