Some banks raise commission for cash withdrawals at ATMs to 3%; CB commented

Information has spread on the Internet that some banks have increased the commission for withdrawing a large amount of cash from ATMs up to 3%.

Photo: Kun.uz

In particular, blogger and economist Otabek Bakirov drew attention to this issue. He said that one of the commercial banks, as an experiment, set a commission of 1.5 to 3% for withdrawing a large amount of cash from ATMs (from 1 million soums). According to him, the commission for cashing out up to 1 million soums remained at 1%.

The Central Bank commented on this information and emphasized that commercial banks themselves have the right to set a commission for withdrawing cash from ATMs and at the moment its size does not exceed 1%.

“If some banks, as an experiment, have established differentiated commissions for cash withdrawals, then this experiment will not justify itself, since consumers will use the services of other ATMs, in which the commission for cashing out is 1%,” the regulator said in a statement.