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What is ABFC and will I now be charged for withdrawals using my Komo debit card?

On April 7, 2021, banks in the Philippines will switch to a new charging model called the Acquirer Based Fee Charging model. This means that starting April 7, the bank which owns the ATM will be the one charging all fees. Despite this change, Komo customers will continue to enjoy unlimited free withdrawals at EastWest ATMs and up to 4 free withdrawals per month for other BancNet ATMs until further notice.

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