House Leader Sandro Marcos Advocates for Sweeping Financial Fee Relief
House Majority Leader and Ilocos Norte Representative Ferdinand Alexander "Sandro" Marcos has championed a significant initiative aimed at providing immediate financial relief to millions of Filipinos. The proposal calls for sweeping relief from automated teller machine (ATM) fees, online transfer charges, and remittance costs to deliver tangible savings directly to citizens.
House Resolution 905 Gains Plenary Adoption
The proposal, formally incorporated into House Resolution (HR) 905, which was authored by Marcos, was adopted by the House plenary before Congress adjourned for its break last month. This resolution urgently appeals to banks, remittance centers, and financial technology platforms to implement temporary waivers or reductions in transaction fees. The goal is to cushion the severe impact of escalating living costs on Filipino households.
Current financial transaction fees present a substantial burden: interbank ATM withdrawal fees are fixed at P18 per transaction, while online transfer charges can soar up to P25 per operation. For countless workers, these recurring expenses steadily erode their take-home pay. Overseas Filipino workers (OFWs) face an additional strain, as remittance fees further diminish the value of the funds received by their families back home.
Immediate and Practical Relief for All Filipinos
In a statement released on Friday, April 10, 2026, Marcos emphasized the broad-reaching impact of this initiative. "The adoption of House Resolution No. 905 is not only about helping our OFWs – it is about providing immediate, practical relief to every Filipino who relies on the banking and digital financial system in their daily lives," he declared.
Marcos elaborated on the widespread reliance on digital financial services, noting, "Today, millions of Filipinos use ATMs, online banking, e-wallets, and fund transfer services just to pay bills, buy food, send money to family, or manage basic household needs. But each transaction comes with a cost – fees that may seem small individually, but collectively impose a real burden, especially during a time of rising prices."
Addressing Economic Pressures from Global Crises
House Resolution 905 explicitly links the need for fee relief to broader economic pressures. It notes that surging fuel prices, driven by ongoing tensions in the Middle East, have triggered increases in transportation, electricity, and food costs. These rising expenses squeeze household budgets tightly, forcing families to depend more heavily on frequent financial transactions for daily survival.
The resolution calls for comprehensive, across-the-board relief that covers both overseas remittances and domestic transactions. This includes ATM withdrawals, digital payments, and fund transfers that are extensively utilized by the general public. HR 905 urges financial institutions to enact short-term relief measures as global oil price shocks, stemming from the Middle East conflicts, continue to send ripples through the Philippine economy.
Urgent Intervention Amid Persistent Inflation
The resolution issues a stark warning: despite staggered adjustments in fuel prices, the full impact of these increases "will still be excessively prohibitive to every Filipino worker," particularly as inflation remains persistently high. With no immediate resolution in sight for the Middle East crisis, the House stresses the critical need for urgent intervention.
Marcos reiterated the call to action, stating, "That is why we are urging banks, remittance centers, and financial technology platforms to temporarily waive or reduce transaction fees across the board – not only for remittances from abroad, but also for everyday ATM withdrawals, online transfers, and digital payments used by the general public."
This proactive legislative move aims to shield Filipino families from the compounding financial strains caused by global economic disruptions, ensuring that essential financial services remain accessible and affordable during these challenging times.
