Euronet ATM charges pocketed by Portugal's banks

Cash machine operator, Euronet, claims that the stiff fees charged to dual-function debit and credit cards is down to the banks, not Euronet.

"The fees charged by banks to their customers on certain dual functionality debit /credit cards for cash withdrawals at our ATMs in Portugal are not charged by Euronet, nor does Euronet receive these fees in whole or in part," the company said in a statement.

The commissions are, "charged by the customer bank to its cardholders in Portugal."

Under discussion is the processing of dual function cards (debit and credit), when used on the Euronet ATM system which treats such cards as credit cards and charges accordingly, without informing the customer.

"Euronet's ATMs are not connected to the ATM network, despite several requests from Portuguese ATM operator, SIBS.

“SIBS's refusal to allow this connection is the reason why these cards are processed by the international card networks, which leaves Portuguese cardholders paying fees to their banks," read the Euronet statement.

"Only SIBS, as the Multibanco owner, can read and process these dual function cards within the Multibanco network," and Euronet clarified that it has no control over commissions charged by the banks.

"Euronet has, on its ATMs, information before the conclusion of the transaction about possible charges that issuing banks can make whenever credit cards are used," concludes the statement.

See also: 'Avoid Euronet cash machines at all costs'

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