ATM fees result in bank users abandoning banks
Thursday March 19, 2009
After the recent changes in ATM fees, bank customers have begun turning their backs on ATM usage with a reported 12 percent decline in ATM visits in the two weeks since the changes were put in place.
Data is based on figures from Customers Ltd, owner of the biggest ATM network in Australia, has the majority of its ATM's in service stations and convenience stores. The changes made by the Reserve Bank of Australia resulted in direct charging from ATM owners as opposed to the card-issuing bank.
After recent publicity on the subject, the National Australia Bank has removed its 50 cent surcharge that it had attached to ATM transactions while smaller banks such as the Bank of Queensland and Bendigo & Adelaide Bank have kept their new fees attached.
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