Consumers’ preference for using their own bank’s ATM, which was prompted by the switch to direct charging for ATM transactions in 2009, has been sustained.
Reserve Bank research on the 2009 ATM network reform, published yesterday, shows that transactions at foreign ATMs (machines not owned by the cardholder’s bank) accounted for almost half of all ATM withdrawals in the four years prior to reform, but fell to around 40 per cent afterwards.
In 2009, Australia moved to a direct-fee ATM pricing model, which saw the cardholder’s account being debited by the foreign ATM owner...
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