The Bank of Spain urges banks to charge only one fee for withdrawing money from ATMs but does not notifies fines

FACUA-Consumers in Action complains that the Bank of Spain (Banco de España) has not announced fines to banks charging twice for withdrawing money from ATMs, even though the body has confirmed that this is an illegal practice in a press statement released this Friday.

The association criticises the lack of severity of the Bank of Spain given this is a fraud that has been happening since March, when La Caixa decided to start applying this double fee. BBVA and Santander have recently announced that they will also apply it.

This Thursday, FACUA submitted a complaint to the Bank of Spain in which it requests fines for the double fee. The fines should be proportional to the extra profit that the banks are making with this practice since La Caixa started it.

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