Regulatory Alerts2016-03-21
Circular 3/2016 of the Bank of Spain on ATM Withdrawal Commission Information
The Bank of Spain issued Circular 3/2016 to mandate that ATM operators and card issuers report withdrawal commission details to the regulator. This requirement ensures transparency for fees charged between entities, whether governed by bilateral agreements or unilateral national rates. Reporting must be submitted electronically via specific forms, with annual updates in January and immediate notifications for any changes to agreements or fee structures.
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