In Portugal, the use of Automatic Automatic boxes is a common practice and, most of the time, free of costs for users. However, it is essential to be aware of possible hidden rates that can be applied in certain situations.
1. Surveys in automatic boxes: When can they have costs?
According to the surveys with automatic box (ATMS) debit cards are generally free, regardless of the Network to which the ATM belongs. However, if the survey is carried out with a credit card, it may be subject to committees associated with the granting of credit and possibly interest. This is because, in this case, the survey is considered a credit operation, also known as “cash advance”.
2. Immediate transfers: costs equated with traditional
Immediate transfers allow funds to be made available to the beneficiary’s account within seconds, 24 hours a day, every day of the year.
From January 2025, with the entry into force of Regulation (EU) 2024/886, banks are required to practice immediate transfers at a cost equal to or less than traditional transfers.
This measure aims to encourage the use of this service for its speed and efficiency.
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3. Surveys abroad: Attention to fees
When it comes to surveys abroad, especially outside the eurozone, Portuguese banks can apply significant committees.
For example, Caixa Geral de Depósitos charges a commission of 3.75 euros plus 3.60% of the amount raised in countries outside the European economic space.
In addition, using credit cards for surveys may imply even higher rates.
4. Use of ATMs outside the ATMs network
In Portugal, in addition to the ATMS network, there are other ATMs networks, such as Euretet.
Surveys conducted in these terminals may be subject to additional rates, especially if they are considered as “cash advance”, as explained.
For example, a 50 euros survey may imply 7 euros payment on fees and commissions.
5. Survey limits in automatic boxes
ATMs in Portugal allow surveys between 10 and 400 euros per day, with a maximum of 200 euros per transaction.
These boundaries may vary depending on the card issuing and the internal policies of each institution.
Conclusion
Although the use of automatic boxes in Portugal is, for the most part, free for basic debit card operations, it is crucial to be informed about possible rates associated with credit card surveys, ATM operations outside the ATM network and abroad transactions.
Staying up to date on your bank’s policies and carefully reading the information presented at terminals can avoid unexpected costs.
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