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These ATM Fees will Shock You

It’s the time of year again when automated teller machines (ATMs) would never run out long lines of people eager to withdraw cash, inquire about their balances or make balance transfers to other accounts. Yes, you shouldn’t only be worrying about credit card charges because even your debit card transactions have significant costs.

For those who have a debit card or ATM card, withdrawals and inquiry balances are the usual thing. But of course, every transaction done on ATMs comes with several fees.

Here is to give you a clear view of the bank charges imposed on necessary ATM activities done in other bank’s machines:


For those who have a debit card or ATM card as most people like to call it, withdrawals and inquiry balances are the usual thing. But of course, every transaction done on ATM machines comes with several fees and charges.

ATM fees are actually charged to cover the cost of operating the automated teller machines. ATM charges are comparative and vary from bank to bank. Charges will also differ for every transaction like withdrawal, balance inquiry, and interbank fund transfer. Usually, the charges range from ₱1 to ₱60 for universal and commercial banks. For thrift banks and rural banks, charges may range from ₱1 to ₱100. So to help you be aware and avoid spending for unnecessary ATM fees, here are the banks that charge the highest for every ATM transaction that you do.

Before delving into details, it is good to know that there are four classifications of banks in the Philippines: universal banks, commercial banks, thrift banks, and rural banks. Each bank is classified according to main product and service offerings.

Bank classifications

It is also good to know that there are four classifications of banks in the Philippines: universal banks, commercial banks, thrift banks, and rural banks. Each bank is classified according to main product and service offerings.

  • Universal banks combine wholesale banking, investment banking, and retail banking services. They can offer diversified products including loans, asset management, securities transactions, financial analysis, and other permitted activities.
  • Commercial banks are financial institutions offering essential banking products like deposits, checking account services, mortgage loans, personal loans and savings accounts to individuals and businesses. Most of the products are insured by the PDIC or the Philippine Deposit Insurance Corporation.
  • Thrift banks are composed of private development banks, mortgage banks, stocks savings, microfinance and loan associations. Thrift banks accumulate depositors’ savings and invest them while allowing consumers to access long-term financing, short-term working capital, and other financial services.
  • Rural banks are also known as cooperative banks. They aim to expand the rural economy to help rural communities by providing financial services. Rural banks are owned and managed by private individuals while cooperatives or even union of cooperatives organize cooperative banks.


ATM fees: Highest withdrawal charges

For universal banks, the top four banks with the highest ATM fees for withdrawals are Bank of the Philippines Islands, BDO Unibank, Inc. – Smart Money, Union Bank of the Philippines, and Rizal Commercial Banking Corporation (RCBC). BPI charges ₱15.00, while BDO charges ₱11 on debit cards for every withdrawal transaction. Union Bank charges ₱12.00 the same with RCBC.


For commercial banks, the highest charge is ₱12.00 and applies to Chinatrust (Phils.) Commercial Bank Corporation. Thrift banks like BPI Family Savings Bank, Inc. charges ₱15.00 for every withdrawal. Pacific Ace Savings Bank charges ₱12.35 and First Consolidated Bank, Inc. charges ₱100 in excess of the four allowable withdrawal transactions in a day.

Rural banks have higher ATM fees for withdrawals like the Rural Bank of Cauayan, Inc. and Mallig Plains Rural Bank (Isabela), Inc., which charges ₱28.00. The Bank of Florida, Inc. and Golden Rural Bank of the Philippines charges even higher at ₱35.00 and ₱46.00 respectively for every ATM withdrawal.

ATM fees: Highest balance inquiry charges

Compared to withdrawal charges, ATM fees for balance inquiry are far cheaper. The highest ATM charge for inquiry among universal banks is ₱2.5 from BDO Unibank, Inc. – Smart Money. The rest apply the standard ₱2.00 charge like Land Bank of the Philippines, Philippine National Bank, Allied Banking Corporation, Union Bank of the Philippines and more.


For commercial banks, the same amount of ₱2.00 is applied to every balance inquiry transaction. Thrift banks require higher fees starting from ₱2.50 like Equicom Savings Bank, Inc. and Queen City Development Bank, Inc. Rural banks have the highest charges like Golden Rural Bank of the Philippines, which charges ₱10.00 for every balance inquiry with receipt.

ATM fees: Highest interbank fund transfer charges

Other ATM fees to be aware of are an interbank fund transfer or IBFT charges. This feature on the ATM machine allows a customer to transfer funds instantly between banks from their account to another one without writing cheques or making orders. The fund transfer is quick with IBFT so charges are much higher compared to the usual ATM withdrawal and balance inquiry transactions.

All major universal banks like Allied Banking Corporation, Development Bank of the Philippines, EastWest Banking Corporation, Standard Chartered Bank, United Coconut Planters Bank, and Union Bank of the Philippines charge ₱25.00 for IBFT transactions. The only exception is Philippine National Bank, which charges as much as ₱60.00 for inter bank fund transfers.


Most commercial banks also follow the standard ₱25.00 IBFT ATM fees. Thrift banks like RCBC Savings Bank take ₱27.50 while Equicom Savings Bank, Inc. charges ₱50.00. The highest IBFT fee is ₱100.00 in every excess of the minimum two allowed transactions in First Consolidated Bank, Inc. Rural banks do not have any IBFT feature, thus they do not have any information on these ATM fees.

Be financially wise. Aside from making yourself aware of the avoidable ATM fees, you can obtain more financial insights by visiting GoBear’s blog.

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