FIN-FSA postpones resolution on guidance concerning charges levied on customers for ATM cash withdrawals
Russia's invasion war has also posed risks to the financial sector. Therefore, the Financial Supervisory Authority (FIN-FSA) postpones its resolution on the guideline and recommendation on the pricing of cash withdrawals at ATMs.
In autumn 2021, the FIN-FSA requested comments on whether the guideline and recommendation concerning the pricing of cash withdrawals using ATMs are justified in the current market situation:
- FIN-FSA guideline on determining the corresponding national payment, referred to in the Cross-Border Payments Regulation (924/2009, codified in 2021/1230), in cross-border cash withdrawals made using ATMs, and
- FIN-FSA recommendation on the pricing of cash withdrawals made in Finland using ATMs other than Otto. network ATMs.
The FIN-FSA has decided to postpone decision-making regarding the continuation of the guidance. Russia's attack on Ukraine has also posed major uncertainty to the financial markets. The FIN-FSA considers that, under current circumstances, it is not appropriate to make resolutions affecting ATM services.
In accordance with the valid guideline on the application of the Cross-Border Payments Regulation, the charge levied on customers for cash withdrawals in euros made in another EU country must be the same as corresponding charges at Otto. ATMs. In connection with issuing the guideline on the application of the Cross-Border Payments Regulation, the FIN-FSA also recommended that service charges levied on customers for cash withdrawals made at different operators’ ATMs in Finland cannot be higher than when using Otto. ATMs. For the duration of the postponement, the guideline and recommendation will remain valid as such.
For further information, please contact
Samu Kurri, Head of Department, telephone +358 9 183 5247 or samu.kurri(at)fiva.fi