Fed:Consumers urged to use own bank's ATM to avoid fees
02 Mar 2009 1:34 PM
CANBERRA, March 2 AAP - Consumers are being urged to use their own bank's ATMs to minimise transaction charges under a new regime that will be introduced from Tuesday.
Under new arrangements endorsed by the Reserve Bank of Australia, when a bank customer uses an ATM not operated by their bank or not in a networked arrangement, the ATM will display an operator fee on the screen before the transaction is completed.
Customers can cancel the transaction at no cost if they decide not to proceed with the transaction.
"Customers need to understand how they can minimise fees once these changes start," Australian Bankers' Association chief executive David Bell said in a statement.
"The cheapest option will be to find your own bank's or a networked ATM.
"There's no reason why you have to pay ATM direct charges. Customers have a choice and it might be as easy as walking around the corner to find your own bank's ATM," Mr Bell said.
