The CEO of Bancomat SpA reveals who the recipients of the withdrawal commission money are
Increases in ATM fee payments at other branches are holding up during this period. Indeed, ATM Spa proposes to change the withdrawal commission which will be decided directly by the bank that owns the ATM. The customer will be aware of the price only and only when will withdraw the money. In his explanation to the newspaper.it, the administrator reveals something that perhaps not everyone was aware of.
ATMs, to whom the commission money goes
As stated by the manager, Alessandro Zollo, the money from the commissions that you pay when you withdraw from the branch of a bank different from the one where the account is held, they go to the latter, that is, to their own bank. Many thought that the commissions were a cost due to the bank where the withdrawal was made with your card. Furthermore, from the interview the cost which is borne by the bank making the payment.
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Each operation at the counter, in fact, has a cost for the management company equal to 1 euro: “The management, maintenance and amortization of the ATM have a cost, estimated up to 1 euro for each withdrawal. The bank where the withdrawal takes place, therefore, provides a service at a loss, because receives only 0.49 euros. A service that is no longer sustainable “. The manager recalls that 70% of ATM withdrawals take place at the counters of his own bank, ie the bank issuing the card.
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The question of the increases concerns the 30% of withdrawals which takes place, on the other hand, at bank branches other than those of the bank where the account is held. It is on this 30% that the incoming increases decided by the company Bancomat Spa of which 120 credit institutions are shareholders and which manages the ATMs of the banks could weigh on.
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