In Portugal, raising money in the ATM is seen as a routine act and, as a general, at no cost. The National System, managed by SIBS, ensures that debit card surveys associated with order accounts cannot have commissions, ensuring the consumer a free use of this network. However, there is an exception that many are unaware of and can transform a simple operation into a significant charge, and there may be commission for a multi -crowning survey.
The situation in question arises when the card used has active credit function. In these cases, the survey is not treated as a simple movement of its own funds, but as a advance in cash, known as Cash Advance.
Here, the bank provides customer credit and, for this reason, the operation is subject to commissions and interest, as in any other financing.
Applicable legal basis
Banco de Portugal clarifies that debit card surveys cannot have commissions in Portugal. However, credit cards are governed by their own rules. Article 16 of Decree-Law No. 133/2009, which transposed the consumer credit directive, allows the collection of committees associated with credit operations, provided that they are provided for in the contract.
The seal tax code also applies, providing for a 4% rate on the amount of the committees charged.
Costs that may arise
In practice, banks apply commissions that combine a fixed value with a percentage over the amount raised, which also adds the seal tax. In many cases, interest is also charged from the date of the survey to the payment of the debt.
In public prices, there are examples such as 3.95% plus 3 euros per operation, which adds the tax due. In a survey of 200 euros, the cost can exceed 11 euros even before interest accounting, according to the same source.
Added risk in mixed cards and private ATMs
The confusion is greater in the case of mixed cards, which accumulate debit and credit functions. If, at the time of operation, the credit option is inadvertently chosen, the transaction is registered as cash advance. The same happens in some automatic boxes outside the Multibanco/SIBS network, as is the case with several Euretet machines, which defect the credit function, according to the same source.
What to do to avoid surprises
The best way to avoid unexpected commissions is to use debit cards exclusively for surveys. If you use a mixed card, it is essential to confirm in the terminal screen that the operation is being done from the order account.
It is also advisable to regularly consult the bank’s price, available at Portal do, to learn the conditions associated with the credit card.
In short, raising money from debit card in Portugal is free, but when using the credit function in the ATM the law allows the collection of both commission or interest. Knowing this difference is fundamental to avoid unnecessary charges and to understand that, in the ATM, not all surveys are equal.
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