BDO denies Php2 charge for all ATM Withdrawals

BDO Unibank Inc. just denied a report that it will start imposing a Php2 charge for all withdrawals on its ATMs starting next month. According to ABS-CBN News, BDO clarified that a Php2 fee will only be imposed for ATM withdrawals using cash (debit) cards or BDO pre-paid cards, starting September 1. More details after the jump.

"The P2 fee will only be effective on withdrawals of clients using cash cards (or BDO prepaid cards), similar to what other industry players are implementing. This is to partially recover our cost on cash handling. BDO account holders are not affected by this development," BDO’s cash management services head Jaime Nasol reportedly said in a statement.

BDO was reacting to a recent report published on TV5’s Interaksyon website titled "BDO imposes P2 fee for every depositor's ATM withdrawal." According to Interaksyon, starting September 1, it will cost a BDO cash card holder Php2 every time he/she withdraws his/her own money from