Sandro Marcos pushes bank fee waivers

House of Representatives Majority Leader and Ilocos Norte Rep. Ferdinand Alexander Marcos has urged banks and other financial service providers to waive fees amid the Middle East conflict. Marcos said in a statement that House Resolution No. 905 urges the removal of banking fees, which are now at P18 per automated teller machine (ATM) withdrawal and P25 per online fund transfer.

While small, Marcos said these fees can accumulate and take a portion of workers’ take-home pay or overseas Filipino workers’ remittances. Consumers, motorists and the transport sector are still reeling after the fifth straight week of fuel price hikes, sending the cost of gasoline to over P95 per liter and diesel to around P150 per liter.