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Published March 16, 2021, 5:05 PM Philippine National Bank (PNB) president and CEO, Jose Arnulfo “Wick” Veloso is the new president and chairman of the Bankers Association of the Philippines (BAP), following the retirement of Bank of Philippine Islands’ Cezar P. Consing.  “I am very honored to be elected as president of the BAP. I look forward to collaborating with the government to support their efforts and look for ways to speed up the recovery of the economy,” said Veloso. He also commits to work closely with lawmakers and banking regulators such as the Bangko Sentral ng Pilipin...

Under acquirer-based ATM fee charging, interbank withdrawal fees are expected to range from ₱10-₱18 beginning April compared to the current ₱10-₱15. The Bangko Sentral ng Pilipinas shall also review all requests from banks for ATM fee adjustments.

The Bankers Association of the Philippines (BAP) on Wednesday said the adoption of the ATM pricing method using acquirer-based fee principle will offer more competitive rates. “We are appreciative of the BSP’s (Bangko Sentral ng Pilipinas) move to adopt this pricing philosophy that is market driv