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Reduced ATM limit Maestro bank cards

Discussion in 'Banking - Investing - Finances' started by Vicmico, Sep 16, 2014.

  1. Vicmico

    Vicmico DI Member

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    I'm almost certain that this will apply to Europeans only, but so be it. Anyone of you that has a debit card (ordinary bank card - so no VISA/MASTER/Etc. credit card) and would use this card to get cash from a BPI ATM will find out (or already found out) that the PHP 10,000 you could normally get is no longer available. The machine will spit out a ticket stating that you exceeded the limit for non-US cards. However, it does not show (nor does the screen of the ATM) what amount CAN be obtained. An extensive e-mail correspondence between me and BPI revealed that the BPI management had decided that PHP 10,000 was too much and they decided, in their infinite wisdom, that PHP 4,000 was enough. Tricky point in this whole affair is that under the 'old' regime a withdrawal of PHP 10,000 would cost you PHP 200 in bank charges, and that this PHP 200 fee still applies, even though the amount has been reduced. It will thus cost PHP 500 to get the PHP 10,000 in increments, or a jump from 2% to 5% costs. One is inclined to call this a disguised long-nose tax, as especially tourists from Europe will be confronted with this example of p*ss-poor management. Suggest you inform visitors planning on staying in the Phils for a vacation of this scam, and make sure they use credit cards for cash withdrawals.
     
  2. expatron

    expatron DI Forum Patron

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    More fun for the Bankers in the Philippines?
     
  3. Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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  4. Jack Peterson

    Jack Peterson DI Forum Luminary Highly Rated Poster SC Connoisseur Veteran Air Force

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    All Debit cards?


    Vicmico, Guys and Gals, Sorry If I sound a little Confused here, does this mean all Debit Cards or just our own Bank issued Cash Card. I have and use two,

    1. Is a UK Bank issued Cash Card.( I guess this falls into the category you are talking about)

    2. Is a Visa Issued Debit Card. ( now this is the one I wonder about) not a C/C purely a Debit card But accepted as a Visa, subject to funds held in the account.


    Will no 2 fall into this category?

    Do we know if it is only BPI at the moment? ( I guess others may follow though)


    Morning all, JP
     
  5. Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    Visa manufactures the cards but they are not the issuing bank. If your bank that issued you the debit/credit card is in the UK then the new rules will apply to it as well.
     
  6. Jack Peterson

    Jack Peterson DI Forum Luminary Highly Rated Poster SC Connoisseur Veteran Air Force

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    Sorted then!

    Thank You for Clearing that up!
    I will check at PNB later this morning and see what they are up to.

    JP
     
  7. denpet

    denpet DI Senior Member Highly Rated Poster Blood Donor Veteran Air Force

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    I was hit by a similar limitation from my issuing bank a few years ago that they will not authorise more than ~4000p due to lack of EMV support by the Philippine banks ATMs. Now, I rarely withdraw from my Swedish account anymore so I don't know if it still applies.
     
  8. Brian Oinks

    Brian Oinks That's Mr. Pig to you Boy! :) Highly Rated Poster

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    How will this go for over the Counter Withdrawals, or is it only ATM there? I know we used my Debit Card at Robinsons in Dumaguete, and I do not understand what happened, but we entered the BPI Bank to enquire about withdrawal and I think we were directed to use the ATM outside... Sorry, but I did not get the lingo and asawa was equally confused as she have never possessed a Debit card before.

    Do ANY of the Banks there allow over the Counter withdrawals as I am in the process here changing Aussie Banks so that Pinay First can transfer my money from my Aussie Bank to a nominated Bank in the Philippines. I am considering using Pinay First as I think someone here posted links regards those who manage/process funds and their fees weren't too bad at the time...

    Honestly I HATE Cards period, but I assume when asawa and I open a Joint Account we will need to have one to be able to make our Withdrawals :confused:

    What are the traps/ pros/ cons to look out for when dealing with the Banks there? :confused:
     
  9. Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    If your current bank is overseas you can't withdrawal from that account in the Philippines over the counter. You can use ATMs with any card you like but there is a fee for each transaction.

    Once you have a bank account in the Philippines you will not need a card to withdrawal cash over the counter....so long as you are in the right bank. :wink:
     
  10. expatron

    expatron DI Forum Patron

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    Some and possibly all won't give you an ATM card on a joint account. At least that's what happened to me....
     
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