Banks reducing fees on cash withdrawals
February 7, 2019 12:35 pm
Fiji Association of Banks Member Saudi Minam [left]
Banks in Fiji are slowly applying a fifty cents fee on ATM withdrawals.
During their submission to the Standing Committee on Economic Affairs on the Reserve Bank of Fiji Aug 2017 – July 2018 Annual Report, Fiji Association of Banks Member Saudi Minam says they have applied the no fee when using EFTPOS and are slowly replicating this with ATMs.
“These are the steps which the association looks into it, towards working towards with the government as well as the regulators where the benefits can be passed on to the end user and it becomes more practicable.”
Minam says ANZ used to charge $1.50 for cash withdrawals but is now charging 50 cents.
He says other banks are following suit.