Colombia requires banks to limit ATM fees

Posted on December 22, 2011 • Filed under: Business, Colombia

Cost of an ATM transaction in a network different from the user entity exceeds $ 7,500 to a maximum of $ 3,965.
Banking users that obligation must make withdrawals at ATMs other than those in your organization now enjoy a substantial reduction in the cost of this operation.To accomplish this effectively, the Ministry of Finance gave them financial institutions limit the value of such operations, are at levels considered unreasonably high for the ability to pay the Colombians and even compared to rates prevailing in other countries. Read Article

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