Every time we swipe the ATM to make a payment we are faced with the question of how many commissions we will then find in the account statement. Many electronic payment companies are reviewing the fees to be charged to banks.
The latter then, in turn, are found in various forms in our bank statements. Here is a novelty that will make everyone happy: with an ATM it is better to pay under 5 euros. In fact, from January 1, 2021 and until the end of 2023, transactions made with the PagoBancomat circuit will be zero commissions for banks.
The commission-free threshold
The initiative, promoted by the company that owns the payment circuit, has set the maximum no commissions threshold at 5 euros. 35 million Italians, therefore, can pay small amounts of expenses without burden. At the same time, 2 million merchants who use the payment circuit will not be charged any more. The introduction of the plan cashless is stirring the waters.
The introduction of cashless
The company has decided to follow at the same pace what will happen for the cashless plan and then eventually extend the service to subsequent years. The declared objective is to promote the use of PagoBancomat cards. Therefore, when you go to buy the newspaper or have coffee, paying with the ATM will not be further burdensome for anyone. In fact, all daily operations up to 5 euros have no circuit and interbank commissions.
Few micropayments in Italy
It must be said, however, that micropayments are certainly not the Italian problem even if this type of transaction represents 2.3%. In fact, over 7 million Italians, despite having an ATM, do not use it for small amounts. This move can also incentivize the use of Pos. Many small merchants, in fact, are not equipped with tools for electronic payments, despite the constant invitation from the bodies in charge.
Therefore paying with PagoBancomat or Bancomat Pay will not incur additional commissions. Italy is starting to incentivize no cash payments and with an ATM it is better to pay under 5 euros.
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