Romania considers law for custom ATM cash withdrawal amounts

A new bill introduced in the Romanian Senate seeks to empower ATM users by allowing them to withdraw any specific amount of cash, rather than being restricted to pre-defined sums. The initiative, proposed by several senators, aims to modernize the ATM experience for all customers, including those using cards from different banks.

Currently, many ATMs present users with a limited menu of withdrawal amounts. The bill's proponents argue that this limitation is often a matter of interface design rather than technical impossibility. This forces customers to choose from the available options, even if their desired amount differs, potentially leading them to withdraw more money than needed. The senators also highlighted that users often incur fees for cross-bank ATM withdrawals, and this restriction exacerbates the issue by preventing precise withdrawals.

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This bill aims to establish the obligation for ATM operators to provide users with the ability to enter a personalized amount for cash withdrawal.

"This bill aims to establish the obligation for ATM operators to provide users with the ability to enter a personalized amount for cash withdrawal," the legislative proposal states. The initiators believe this change will ensure equal treatment for all users of cards issued by authorized payment service providers in Romania. They emphasize that the project does not eliminate quick withdrawal options or force ATMs to dispense amounts beyond their technical capacity. Non-compliance with the new rules would be subject to penalties under existing law.

The senators anticipate that the law will enhance consumer protection, strengthen users' rights to access their funds freely, and reduce instances where individuals are compelled to withdraw excess cash. They also project increased transparency and accessibility in cash withdrawal services, ultimately boosting confidence in payment services and the financial market. The proposed modifications are expected to be primarily software-based, with no anticipated impact on the state budget.

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The project aims to ensure equal treatment for all users of cards issued by authorized payment service providers in Romania, eliminating differences in access to cash withdrawal functionalities determined solely by the card issuer.