MANILA, Philippines — A lawmaker on Thursday called on the House leadership to expedite the passage of a bill that would set interbank transactions in automated teller machines (ATM) at a maximum amount of P5.
Bayan Muna Rep. Carlos Zarate is referring to House Bill No. 4019 or the ATM Fee Regulation Act of 2019 that seeks to regulate the rate of fees and charges that banks imposed for ATM transactions.
Zarate filed the measure back in 2019 with fellow Bayan Muna Reps. Ferdinand Gaite and Eufemia Cullamat.
Under the measure, all banks operating and providing ATM services shall charge a standard rate of transaction fee for members and non-members alike according to th…
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