MANILA, Philippines — House of Representatives Majority Leader Ferdinand Alexander “Sandro” Marcos has formally urged the banking and digital finance sector to suspend transaction fees, citing the cumulative burden on Filipinos struggling with the fallout from the ongoing Middle East conflict.
In a statement released on Friday night, April 10, 2026, the lawmaker announced the filing of House Resolution (HR) No. 905, which calls for the temporary removal of interbank and digital transfer charges to provide “immediate, practical relief” to workers and families.
The resolution highlights that while individual fees may appear small, they accumulate quickly for those relying on cashless systems due to hybrid work-from-home or four-day workweek schemes.
- ATM Fees: Interbank withdrawal fees currently average P18 per transaction.
- Online Transfers: Digital fund transfer charges can reach as high as P25.
- Target Beneficiaries: Marcos emphasized that waiving these fees would directly benefit Overseas Filipino Workers (OFWs) sending remittances, as well as students, small entrepreneurs, and daily wage earners who use e-wallets for bills and food.
Marcos argued that the move is a matter of “economic fairness” as the nation deals with a weaker purchasing power caused by the global oil shock.
- Fuel Context: The call for fee waivers comes as domestic diesel prices remain near P150 per liter, following five consecutive weeks of massive price hikes.
- BSP Role: The resolution urges the Bangko Sentral ng Pilipinas (BSP) to lead the initiative by encouraging private banks to adopt these relief measures, while calling on government financial institutions to set the example.
The filing of HR No. 905 is part of a larger legislative push to mitigate the impact of the Middle East crisis.
- Excise Tax Suspension: The President recently signed a law allowing for the suspension of fuel excise taxes if Dubai crude prices exceed $80 per barrel for a month—a move that could take effect as early as April 12.
- Crisis Committee: Malacañang is also finalizing a specialized crisis committee to manage the supply and pricing of essential goods.
“Each reduction from payments will be added to the people’s budget for food, fares, and their everyday needs,” Marcos stated. The House is expected to deliberate on the resolution next week as part of its ongoing joint committee hearings on the energy crisis.