Bank users turn back on banks as ATM fees jump up
19 March 2009
ATM visits have declined by 12 percent in the two weeks after recent ATM charges were put into effect on March 3rd 2009. The owner of the biggest ATM network in Australia, Customers Ltd, released the data.
The Reserve Bank of Australia changed its rules on ATM fees whereby no longer direct charging the card-issuing bank but the ATM owners instead, with owners now charging their own fees on customers.
Bank charges attached have been somewhat restricted with the National Australia Bank being the only bank to charge an extra fee initially, this has since been removed due to public pressure and it being the only one of the four major banks of Australia to attached charges.
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