MANILA — House of Representatives Majority Leader Ferdinand Alexander “Sandro” Marcos of Ilocos Norte is pushing for the temporary removal or reduction of fees on ATM withdrawals, online transfers, and remittances to provide relief for Filipinos affected by rising costs.

The proposal is contained in House Resolution (HR) 905, which Marcos authored and was adopted by the House plenary before Congress went on break last month. It calls on banks, remittance centers, and financial technology platforms to temporarily waive or lower transaction fees to help cushion the impact of higher living expenses.

Interbank ATM withdrawal fees currently stand at PHP18, while online fund transfers can reach up to PHP25 per transaction. Marcos said these charges, though small per transaction, accumulate and reduce workers’ take-home pay over time.

For overseas Filipino workers (OFWs), remittance fees also reduce the amount received by families.

“The adoption of House Resolution No. 905 is not only about helping our OFWs – it is about providing immediate, practical relief to every Filipino who relies on the banking and digital financial system in their daily lives,” Marcos said in a statement.

“Today, millions of Filipinos use ATMs, online banking, e-wallets, and fund transfer services just to pay bills, buy food, send money to family, or manage basic household needs. But each transaction comes with a cost – fee that may seem small individually, but collectively impose a real burden, especially during a time of rising prices.”

HR 905 also links the proposal to rising fuel prices driven by tensions in the Middle East, which have pushed up transportation, electricity, and food costs and increased reliance on digital financial transactions.

The resolution urges short-term relief measures covering ATM withdrawals, digital payments, fund transfers, and overseas remittances, noting that financial pressures on households continue to mount.

It also warns that despite staggered fuel price adjustments, the full impact of rising costs remains “excessively prohibitive to every Filipino worker,” especially as inflation persists.

“That is why we are urging banks, remittance centers, and financial technology platforms to temporarily waive or reduce transaction fees across the board – not only for remittances from abroad, but also for everyday ATM withdrawals, online transfers, and digital payments used by the general public,” Marcos said.