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Brazil's Superior Court allows ATM banking fees once monthly limit is reached

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Brazil's Superior Court allows ATM banking fees once monthly limit is reached

Brazil's Superior Court of Justice has ruled in favor of banking fees once a client makes a fifth ATM withdrawal in a month, Valor Econômico reported.

The decision overturned a 2008 motion filed by the federal district's public ministry that questioned such charges from ABN Amro Real, which was acquired by Banco Santander (Brasil) SA, the report said.

The ruling is in line with regulations from the Banco Central do Brasil regarding the matter, the publication noted.