The Central Bank of Montenegro (CBCG) received a “negligible number of objections” to the fees that citizens pay when withdrawing cash from ATMs of other banks, but they often complain to the editorial office of the RTCG portal that they have to pay a minimum of €3 to €5 for this service, which is obviously too much for them. However, the CBCG recalls that banks have the right to charge a commission and that this is in accordance with the Law on Payment Transactions.
If you withdraw money from banks which you are not a client of, it can cost you a minimum of €3 to €5 to withdraw the minimum amount of money, which, depending on the bank, ranges from €10 to €20.
Banks can take a percentage of the transaction value, from 2.5% to 3%, but most of them have defined minimum amounts that they can cahrge. For cash withdrawals with debit cards at other banks’ ATMs, Hipotekarna Bank takes a minimum commission of €5, and the same is the case with NLB and Crnogorska Komercijalna Bank (CKB).
Erste Bank charges €4 for this service, Addico and Adriatic charge €3 each.
Several citizens have complained to the editors of the RTCG portal, saying that these commissions are too high for them.
Leader of the Movement of Pensioners (north of Montenegro) Svetozar Cabarkapa agrees with the assessment that the commissions are too high.
The CBCG says that its Department for the Protection of the Rights of Clients of Credit Institutions and Users of Financial Services received a negligible number of complaints on this issue, because users of bank services are familiar with the tariffs for withdrawing money from other banks’ ATMs.
