• Contact
  • Feedback
Banking Day
  • News
  • Topics
    • All Topics
    • Briefs
    • Major Banks
    • Authorised deposit-taking institutions
    • Insurance, funds and super
    • Payments, mobile & wallets
    • Consumer lending
    • Mortgages
    • Business lending
    • Finance regulation
    • Debt capital markets
    • Ratings agencies
    • Equity capital markets
    • Professional services
    • Work & career
    • Foreign news
    • Other topics
  • Free Trial
  • Subscribe
  • Resources
    • Industry events
  • About us
    • About Banking Day
    • Advertise
    • Feedback
    • Contact Banking Day
  • Search
  • Login
  • My account
    • Account settings
    • User Admin
    • Logout

Login or request a free trial

Convenience working for ATM owners

13 April 2012 4:13PM
Operators of ATM fleets have clawed back more than A$5 million a month in fees charged to users of machines that charge for using the "wrong" ATM - that is one not part of the fee-free network operated or affiliated with the customer's bank.Monthly data on the use of automatic teller machines published by the Reserve Bank of Australia shows that the proportion of cash withdrawals at ATMs owned by an institution different to that of the cardholder was 41.1 per cent in February 2012.This is the highest proportion since the shift to the new model for charging ATM fees came into force in March 2009.Prior to that change around 47 per cent of ATM withdrawals were made at the "wrong" ATM. This dropped to a little less than 40 per cent once the new fees - these were prominently displayed at ATMs - came into force. The percentage fell to as low of 37.3 per cent in April 2011, with the fall possibly explained by the general caution in discretionary spending by all households.ATM operators are also experiencing a revival, albeit modest, in the growth in the number of transactions. Transaction numbers fell over most of 2010 and during the first half of 2011. Growth, on a 12-month basis, re-emerged in the third quarter of last year.Consolidation is underway in the ATM sector with EzeATM taking over the fleet operated by iCash Payments, while DirectCash (from Canada) seeks shareholder approval for a take-over of Customers Limited.

I'm a returning subscriber

*
Password reset *
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day

Consumer lending

  • Latitude, Harvey Norman liable for interest free GO card con

Copyright © WorkDay Media 2003-2025.

Banking Day is a WorkDay Media publication

WorkDay Media Unit Trust

  • Privacy policy
  • Terms of access and use