ATM fees total half-a-billion dollars annually

By John Collett
Updated July 31 2014 - 10:08am, first published July 20 2014 - 12:15am

More than half-a-billion dollars is paid annually in ATM fees, five years after Reserve Bank reforms designed to reduce the fee amount paid. Under the Reserve Bank of Australia’s 2009 changes, if a withdrawal fee is to be charged it has to be disclosed at the time of the withdrawal and customers are asked if they want to continue.

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