ATM cash withdrawal fee
To find out what fee you may be charged for withdrawing cash from ATMs, there are several factors to take into account. On the one hand, whether you withdraw cash using a debit or credit card and, on the other hand, whether the ATM belongs to your own bank or to another bank.
- If you withdraw cash using a debit card:
- o At an ATM belonging to your bank, you cannot be charged any fee.
- o At an ATM belonging to another bank, your bank does not charge you any fee, but it may pass on to you the fee applied by the bank that owns the ATM.
- If you withdraw cash using a credit card:
- o At an ATM belonging to your bank, a percentage amount with a minimum amount tends to be applied.
- o At an ATM belonging to another bank, a percentage amount with a minimum amount tends to be applied, and your bank may pass on to you the fee applied by the bank that owns the ATM.
Before proceeding with the cash withdrawal, a screen at the ATM will warn you by means of a message whether the service is free or the cost it entails, with regard to both your bank and the bank that owns the ATM, and you must be given the option to stop the transaction.
What requirements must be met in order to charge this fee?
- The fees charged by banks are unrestricted, except in cases where they are limited by law. The ATM cash withdrawal fees are regulated in Royal Decree-Law 11/2015 of 2 October Royal Decree-Law 11/2015 of 2 OctoberAbre en ventana nueva.
- In order for the bank to be able to charge this fee, you must be previously informed of its conditions and you must expressly or tacitly accept them.