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Home Economy

Jogi: “Banks increase transaction costs”

Preveen Hanoeman by Preveen Hanoeman
Tuesday, 8 Sep 2026 - 3:18 pm
in Economy
Jogi DNA Since 1 August, local banks have increased transaction costs for cash withdrawals and balance enquiries, costing citizens dozens of SRD extra each day, parliamentarians Jogi and Jones warn.

“Local banks have increased the costs of withdrawing money and other transactions for citizens,” DNA member Mahinder Jogi said in parliament on Monday.

The parliamentarian considers it regrettable that the banks have introduced this decision unilaterally. “The banks always do this.” He called on the government to protect society against the arbitrariness of the banks.
Fellow DNA member Ebu Jones also asked the government to pay attention to this issue. “There is a tjoetja that is being used.”

According to him, citizens are increasingly being exploited when withdrawing their own money from ATMs. The maximum withdrawal amount is SRD 10,000 per day, but it very often happens that one can only withdraw SRD 1,000 or SRD 2,000 at a time. “What use is SRD 1,000 or SRD 2,000 per day these days?” he asked rhetorically. Citizens must withdraw money at least three to four times in order to get the full amount of SRD 10,000 in hand.

The costs for cash withdrawals at ATMs have been increased since 1 August. An amount of SRD 17.60 per transaction, including VAT, is charged for a withdrawal at an ATM. Previously, this was SRD 11. Checking the balance is also not free. SRD 1.10 per transaction is charged for this.
Jones cannot imagine that citizens are being exploited in such a way. As a result, people spend between SRD 50 and SRD 80 daily, solely on cash withdrawals at ATMs.

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