Banks increase the cost of cash withdrawal at ATMs

Withdrawing cash from ATMs will have a higher cost. Both private banks such as publics decided to make this annual adjustment depending on the Inflation projection for this yearwhich is estimated around 25%. In some cases, according to sources collected by Scopeeven this update is below that expectation. Increases affect not only cash extractions, but also accounts and maintenance of credit cards.

The Central Bank has as regulations for financial entities, that cost increases for its clients must be carried out in advance of 60 days. For that reason, Many have already begun to receive mails with cost increases on this date, but they will apply since May.

How much will it cost to remove cash from the ATM

It is important to note that many banks They offer bonuses in cash extractionswhich vary according to the type of client. In generalclients with the highest category have 100% of the bonus or some even have a partial bonus according to the amount deposited in account. In addition, in all private banks, The cost will be lower if the withdrawal is done in ATMs of the same network. If ATMs of other networks are used, The cost per extraction will become $ 5,000.

“The salary packages have no cost and there are bonuses for certain requirements. The costs of commissions, use of cashiers and card replacement will also increase. Customers usually know how to optimize their retreats to avoid costs, especially in the banks themselves,” said one of the main private banks to this medium.

From the Province Bankthey said that they will soon go out with a campaign to highlight the lowest commissions in the market, in all operators. However, beyond that, in this bank the use of the ATM network is free for debit card holders associated with salary accounts, payment of retirement or social plans, who can use any cashier at no cost, regardless of which bank or network they belong. This entity had a 20% rise to extract cash in the ATMs of another entity but from the same network, going from $ 1,900 to $ 2,280, and to withdraw money from ATMs of different network, climbing from $ 2,200 to $ 2,640.

The Comafi Bank also confirmed that its customers can access their own Banelco ATMs with a cost of $ 3,346.56 and other networks, $ 3,450.92.

Argentines use less and less effective

ANDl Use of electronic money continues to rise among Argentines. According to the latest most recent report from the Central Bank on retail payments, Digital transfers continue to expandwith virtual wallets highlighting as the preferred tool for this type of operations.

In January this year, The growth of immediate transfers was notable in pesos and dollars. In pesos, 544.1 million transactions were recorded for a total of $ 51.5 billion, which represents an annual increase of 41.6% in the number of operations and 45.8% in the amounts. An interesting fact of the report is that more than 75% of these transactions were made between accounts associated with a uniform virtual key (CVU)that is, accounts in virtual wallets.

On the other hand, The use of the QR code to make payments was another of the great protagonists. In January, more than 71 million operations were carried out, which represented an increase of almost 147% compared to the same month of 2024. 57.6% of the transactions were made from accounts in view, while the remaining 42.4% came from payment accounts. As for businesses, 37.5% accredited in account accounts and 62.5% in payment accounts

Finally, It is relevant to highlight the behavior of the Payway index, which measures the use of ATMs. In the last quarter of 2024, extractions in ATMs decreased by 4.21% compared to the third quarter of that same year. In addition, if the comparison between the last four -month period of 2024 and the same period of 2023 is made, the fall is even more pronounced, exceeding 12%, marking the consumer trend to use less effective prioritizing other means of payment.