Law Preventing Double Commission Charges At ATMs Effective Today

October 5, 2015

As from today the law regulating commissions for cash withdrawals at ATMs belonging to third party banks enters into effect, after being approved Friday by the Spanish Council of Ministers. 

The owner of the terminal may not charge a fee directly to the customer, but instead to the issuer of the card, which then may or may not affect the user fee, in whole or in part. In addition, the ATM screen will inform the user of the maximum amount that may be charged.

The Government has given banks until January 1, 2016  to adapt their payment systems to comply with the new requirements. 

In the case of cash withdrawals by debit card, the card issuer may only pass on the amount of commission charged by the terminal owner, but may not charge any additional charge. If the cash is taken out using a credit card the card issuer may charge an additional fee to the terminal owner, linked to the amount of credit granted. This amount may not exceed the charge to customers for withdrawing cash on credit.

 The government estimates that more than 900 million cash withdrawal operations take place in Spain annually using more than 50,000 machines.