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Are the ATMs at Banco Nacional cheating?

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The Banco Nacional ATM shows that there is a $4 fee for cash disbursements.  But when you confirm that you agree to this, the receipt shows it deducts $5.25.  My husband discovered this at the Boquete Banco Nacional ATM.  Today, I saw this again at a Banco Nacional branch in David.

When I addressed this with the Customer Service person at the Boquete branch she rather defiantly said, "check your statement.  If in fact, there is a $5.25 deduction, your bank must dispute it, and our bank will settle it with your bank."

I checked my statement and sure enough, there are all $5.25 fees from the Banco Nacional ATM.

I called Schwab, who issued our ATM card.  They actually reimburse the ATM fees back into our account; so it's them whose being cheated.  It doesn't matter to me who is paying the bill, it appears to be cheating on the part of Banco Nacional.

Maybe someone can enlighten me, but it seems that when we agree to the $4 fee, that is a contract between the client and the ATM owner.

Schwab had no idea that this was going on and they were alarmed that it was happening.  Unfortunately, at least at the level of management that I was dealing with, they said it was not in their authority to pursue the bank.

But if anyone reading this has to have the ATM fee taken from their personal account, please check your statements and be aware that it appears that Banco Nacional is cheating.  When I told the Customer Service person that this appears to be fraud since we agree to the $4 fee, and then they assess a $5.25 fee.  The Banco Nacional representative didn't seem the least bit interested, apologetic, or interested in trying to explain it--as if there is a legitimate explanation.


Edited by Sassy Blake
accidentally submitted before I was finished writing
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Sassy, I believe it’s saying $4.00 goes to the Clave system in addition to any fees which may be charged by your Bank, probably $1.25.

Having your fees reimbursed by Schwab is a huge benefit for those who keep their Bank in the U.S.

Edited by Keith Woolford
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Hm-m-m.  I sent them the photo of the screen, which is in English, and Schwab didn't indicate that, and neither did the Banco Nacional Rep.  But it's an interesting thought.  But why wouldn't the other ATMs from other banks have a similar message/disclosure?

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All the ATM's at all the banks charge $5.25 per transaction. At least for the last 2 years that I have been here.

Everyone screen I have seen disclosed the $5.25. Your screen shot is the first time I have seen only $4 . I have been to Banco National in the past as well

Edited by Jude Schmidt
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  • 1 year later...

Banco Nacional is a joke. Incompetent people, bad service. They look at every document (checks, payments for property taxes, etc.) like they've never seen one like it before. This $5.25 charge vs the $4.00 that appears on their screen has been going on for at least 2 years.

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