Customers walk to avoid ATM fees

About 160,000 people a day changed their choice of automatic teller machine at which to withdraw cash during the month of March 2009, Reserve Bank of Australia payments data suggests.

The proportion of people who collected cash at an ATM owned by another bank (or an independent) fell to 40.0 per cent during March, down from an average proportion of 46.8 per cent at another bank's ATM in the three preceding months, according to analysis of the data by MWE Consulting in their monthly report.

Under new industry practices introduced in early March owners of ATMs must highlight the fee the owner of that ATM will charge to a customer. These "convenience" fees replaced the "foreign" ATM fees that used to apply.

Source: The Sheet

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